MAS unveils transformational roadmap for data collection processes

SINGAPORE (Mar 14): The Monetary Authority of Singapore (MAS) is implementing a number of measures from its new transformational roadmap for its data collection approach from financial institutions.

The measures will take effect from March 31 and are intended to eliminate all duplication in data requests by end-2019, automate data submission and explore the implementation of granular data collection.  

To ensure the non-duplication of data requests, MAS intends to enshrine data reusability – the ability to use data collected once for multiple purposes – in its data collection approach, such that financial institutions need not submit the same data to MAS twice.

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