RAS had joined forces with the Singapore Fintech Association to support our members in adopting technology for business and compliance, including blockchain and cryptocurrency.
The sub-committee is planning a wealth of educational seminars for members of both associations on how talent acquisition and digitisation will support them in staying compliant with regulations now that the new Payment Services Act has come into force.
Officially announced in May 2021, the creation of the SFA Sub Committee is an important milestone for RAS. It aims to foster the development and growth of a remittance and cross-border payment ecosystem in the financial sector in Singapore by working collaboratively on four key areas of focus:
Engagement with Regulators – We engage with regulators on current and future regulations, market structure and practices within the financial sector as an independent voice and a bridge between the regulators and the remittance ecosystem.
Engagement with Industry – We organise events to promote the adoption of technology solutions, support the remittance ecosystem by providing key market insights in the industry and be the bridge between the financial industry, the RegTech ecosystem and the regulators.
Ecosystem Development – – We work with other associations in and outside of Singapore to grow the remittance ecosystem and facilitate partnerships, collaboration and the growth of remittance ventures.
Talent Development – We work with tertiary institutions in Singapore to promote the concept of modern cross-border payments and their best practices, facilitate the adoption of international expertise in Singapore through the exchange of knowledge, and attract talent as well as connect with industry experts to advise and mentor remittance companies here.
RAS had joined forces with the Singapore Fintech Association to support our members in adopting technology for business and compliance, including blockchain and cryptocurrency.Download Document
RAS & SFA collaboration will be a huge boon for RAS members
The SFA Sub Committee was created in May 2021 with an aim to foster the development & growth of the remittance industry in the cross border payment in the financial sector in Singapore. The RAS- SFA committee is a key milestone for RAS.
This sub committee will focus on working hand in hand on four key areas, namely, regulators (to work on present & future regulations), industry (for adopting new tech), ecosystem development (to join hands with more associations) & talent acquisition (connect with industry experts).
Seminars & workshops to educate members on talent & technology
Lots of educational seminars & workshops are being planned for members of both RAS & SFA to help them learn about talent acquisition & digitalization to support them in staying compliant with regulations like the new Payment Services Act that has come into force recently.READ MORE
Serving as a bridge between the remittance community & the regulators
The SFA Sub Committee hopes to engage with regulators as an independent authority on current & future regulations, market structure & existing practices in the financial sector and be a bridge between the regulators and the RAS SFA members.READ MORE
Support members in adoption of new technology in the financial industry
We regularly conduct events to promote the adoption of technology solutions by our members in the remittance industry. The sub-committee also supports the remittance ecosystem by giving the best & the simplest tech solutions based on key market insights in the industry.READ MORE
Partnering with other remittance associations to promote growth
The RAS SFA sub-committee helps in the growth of remittance ventures by aiding partnerships & collaborations with other associations in and outside of Singapore to improve the scope of the remittance community.READ MORE
Promote advanced cross border payment practices with expert help
We aim to connect our members with industry experts who would advise & mentor remittance companies in Singapore. We want our members to have access to international expertise & talent in Singapore through the exchange of knowledge work with tertiary institutions. This will in turn promote the concept of modern cross border fund transfers.READ MORE
Help Your Remitance Business Win!
The Remittance Association (Singapore) was initiated by a small group of 12 founding members who had contributed immensely to the formation of the Association along with the valuable support from the Monetary Authority of Singapore.
The Association was registered in April 2014 with an aim to promote best practice across the industry, raise the standard of AML/CFT compliance and act as a collective voice for all members.
RAS - SFA Committee Members
The RAS SFA subcommittee has a unique set of members from both RAS & SFA. They are skilled in various streams of the finance & tech industry and bring in their varied expertise to the knowledge panel.
You may contact us by using the form here. Alternatively you may email or send us a message via Whatsapp.
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