Regulatory Alerts2020-06-09
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Outsourcing Arrangements Involving Services Wholly Provided by GovTech or Agents Appointed by GovTech
The Monetary Authority of Singapore issued Circular ID 26/20 to clarify that outsourcing arrangements involving services wholly provided by the Government Technology Agency or its appointed agents are exempt from the Guidelines on Outsourcing. This exemption applies to specific Strategic National Projects, such as National Digital Identity services, due to the robust oversight and controls implemented by GovTech. The circular lists eligible services including Retrieve, Login, Verify, Identiface, and Authorise with SingPass, as well as the API Marketplace, and directs financial institutions to an official website for the most current list.
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