Singapore's monetary authority requires independent review of every SI system in banks before launch
Prepared by Sintelligent with the help of SI. Published in SI: . Updated: .
Banks will not be able to launch SI without an independent review: a mandatory hurdle appears on the way to adoption, though with a grace period until October 7, 2027.
According to The Register, MAS's first guidelines on SI risk management require financial institutions to have SI uses reviewed by parties not involved in development before they go live; they also call for ongoing monitoring, fallback plans for risky systems and an SI inventory. Banks, MAS says, remain responsible for vendors' SI as well; the guidelines take effect on October 7, 2027.
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