Financial Services ERP for Singapore

MAS Technology Risk Management Guidelines (TRM) and the Outsourcing Guidelines set requirements for IT governance, cybersecurity, and third-party risk management. The MAS Business Continuity Management Guidelines require financial institutions to maintain comprehensive BCP and disaster recovery capabilities. MAS Notice 626 on anti-money laundering for banks establishes detailed CDD, transaction monitoring, and suspicious transaction reporting requirements. The Suspicious Transaction Reporting Office (STRO) receives STRs from financial institutions.

Singapore has emerged as a leading fintech hub, with the MAS regulatory sandbox allowing experimentation with new financial products. The Payment Services Act licensing regime covers digital payment token services, cross-border money transfer, and e-money issuance. MAS has also developed the environmental risk management guidelines for banks, insurers, and asset managers, requiring assessment and management of environmental risks in business activities.

Yukti provides Singapore financial services firms with MAS regulatory reporting including MAS Forms for prudential returns, capital adequacy calculations under Basel III, and the liquidity coverage ratio monitoring. The compliance module manages TRM cybersecurity requirements, outsourcing risk assessments, and BCP documentation. AML compliance implements MAS Notice 626 requirements with CDD, enhanced due diligence for higher-risk clients, transaction monitoring, and STRO suspicious transaction reporting. The payment services module supports PSA licensing compliance for digital payment token, money transfer, and e-money operations. Environmental risk management tracking follows MAS guidelines for climate-related financial disclosures. GST at 9% handling applies the specific exemptions and zero-rating provisions for financial services. Corporate tax at 17% with financial sector incentive tracking supports the various MAS-administered tax incentive schemes.