Banks prefer to keep data “on-premises” for MAS 610 compliance

15 June 2018 | 3 minutes read
lock, protection, data

Over 80% of banks in Singapore prefer a “traditional on-premise” operating model when it comes to the new reporting requirements imposed by the Monetary Authority of Singapore (MAS), according to a survey conducted by regtech firm, Wolters Kluwer. Although a number of fintech companies offer solutions for cloud-based platforms — often referred to as ‘software as a service’ (SaaS) —…

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