MAS poised to update rules on banks’ outsourcing arrangements amid growth in fintech partnerships

11 February 2019 | 2 minutes read

The Monetary Authority of Singapore (MAS) has proposed adding a new section to the Banking Act in a bid to improve supervision over banks’ outsourcing arrangements and better protect client data as more financial institutions enter into partnerships with third-party tech vendors. Last week, the Singapore regulator published a consultation paper on outsourcing by banks and merchant banks, setting “legally…

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