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MAS and Swiss authority to promote financial data connectivity

The Monetary Authority of Singapore (MAS) and the Swiss State Secretariat for International Finance (SIF) have announced plans to promote data connectivity for financial services. The aim of MAS and SIF is to promote consumer-focused, innovative, integrated, and efficient global financial markets while maintaining the stability and integrity of the global financial system. Confidentiality of customers’ data and protecting personal information and privacy globally rank among their priorities as well. MAS and SIF said cross-border data connectivity in financial services may support economic growth and the development of innovative financial services and may benefit risk-management and compliance programmes. Among the connectivity's goals is allowing the sharing of information within financial groups or with business partners across borders via electronic means.

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