Singapore: MAS revises Technology Risk management guidelines
News Highlights: Singapore: MAS revises Technology Risk management guidelines
The guidelines are designed to promote the adoption of robust technology risk management practices in the financial sector.
On January 18, 2021, the Monetary Authority of Singapore (the MAS) revised guidelines (the guidelines) to account for the rapidly changing cyber threat landscape and the increased reliance of financial institutions on cloud technologies, Application Programming Interfaces (APIs) and rapid software development. The guidelines apply to all banks, payment service providers, brokerage and insurance companies.
The guidelines, which took effect immediately on the date of issue, are designed to support financial institutions by providing them with a framework of best practices for technology risk monitoring, practices and controls to address technology and cyber risks. The guidelines are not intended to be exhaustive or prescr
With more businesses moving online, the inclusive tech space especially that of India accommodates this growth through the popularisation of no-code and low-code apps
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Developing an application involving the use of coding platforms may appear daunting at first, and can be difficult to use. As a result, 2020 saw hopefuls in the developers’ communities attending numerous coding marathons and camps in a move to upskill, but there has been a quiet and equally fascinating alterative.
Numbers for perspective
Over 500 million digital apps and services will be developed by 2023, according to ‘International Data Corporation FutureScape: Worldwide IT Industry 2020 Predictions’ report (October 2019)
Many brands are revisiting their customer experience initiatives, and are looking into investing in either a customer data platform (CDP) or customer relationship management (CRM) platform. The question is, what are the basic functions of CDPs and CRMs, which would serve a brand better for improving the customer experience, and why?
The Primary Function of a CDP
A Customer Data Platform is a software package that is used to unify transactional, demographic, and behavioral data from all of a brandâs channels, all of which are used to create a persistent, single-person view of each customer. It then makes the customer data available to other systems so it can be used for marketing, personalization, customer service, sales, and customer experience initiatives.
Opening up real-time access to data via APIs could help streamline Covid-19 vaccination programs
An API-first approach supports low-code solutions, and that is of immense value to healthcare facilities right now.
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Whether driven by private-sector innovation or government mandates, the move to Open Healthcare was underway before the Covid-19 pandemic, but 2020 has underscored the urgency for interoperability and truly digital healthcare.
FHIR implementation is poised to support rapid adoption of Application Programming Interfaces (APIs), which are enabling people, providers, plans, and governments to share more data faster and easier. APIs allow outside apps to connect with electronic health record (EHR) systems, and these can help solve massive healthcare challenges. But it is API-first thinking, not just compliance with HHS interoperability rules, that can truly unlock the potential for solutions that are secure