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IBF Standards Training Scheme (IBF-STS)

Financial Training Scheme (FTS)

What is the IBF Standards Training Scheme?

The IBF Standards Training Scheme ("IBF-STS") provides funding for training and assessment courses:

That cover key skills needed in the financial sector.
Accredited under the Skills Framework for Financial Services (SFwFS).

This scheme is available for both self-sponsored and company-sponsored individuals.

See all IBF-STS Accredited Programmes

Overview

Eligible Companies
  • Singapore-based Financial Institutions regulated by MAS (licensed or exempt from licensing by MAS)
  • FinTech firms certified by Singapore FinTech Association (SFA)
IBF-STS Funding Quantum

[1] Individuals who (i) attend a course in the capacity of an instructor or facilitator, e.g. presenter / speaker / panelist, or (ii) civil servants are not eligible for IBF-STS funding.

[2] Direct training cost would be based on the gross course fee charged by the external training provider or apportioned basic salaries of internal staff involved in developing and/ or delivering in-house courses. Qualifying expenses include training costs incurred for both executive and non-executive staff, as well as staff employed on a short-term basis (less than one year, inclusive of contract staff and interns). Apportioned basic salaries of full time in-house trainers involved in developing and/or delivering in-house courses will also be eligible for support.

Streamlined Funding Support

Self-Sponsored and Company Sponsored Individuals

  • Funding support for the same course will be granted only once per calendar year per participant.
  • IBF-STS Funding will be adjusted with effect from 3 October 2022.
Training Allowance Grant (TAG)

$10/hour of eligible training and assessment hours

Eligible Companies [3]:

  • Singapore-based Financial Institutions regulated by MAS (licensed or exempted from licensing by MAS).
  • FinTech firms certified by Singapore FinTech Association.
  • Only for company-sponsored individuals who are Singapore Citizens or Singapore Permanent Residents, physically based in Singapore.

[3] SkillsFuture Credit (SFC) cannot be used to co-fund the course fees of company-sponsored training courses.

Duration:

  • Only for courses commencing between 8 April 2020 and 30 June 2022 (both dates inclusive), and
  • Completed no later than 30 September 2022.

Disbursement:

TAG will only be disbursed to the eligible sponsoring companies upon the participants' successful completion of the IBF-STS accredited courses. This includes:

  • Fulfilling minimum attendance requirements.
  • Passing the assessment component of the IBF-STS course.
Find IBF-STS Accredited Courses
A list of IBF-STS accredited external courses can be found in the Programme Finder.

If you are a Financial Training Provider or Financial Institution, click here to find out how you can get your courses IBF-STS accredited.

IBF Accredited Training Providers

IBF welcomes training providers and financial institutions to join our community as accredited training providers under the Skills Framework for Financial Services and contribute toward raising the professional competencies of financial practitioners in Singapore.

Current accredited training providers include Training Providers, Institutes of Higher Learning and Financial Institutions.

 

Organisations with accredited Training Programmes

Under the Skills Framework for Financial Services

A

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E

F

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H

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L

M

N

P

Q

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T

U

V

W

A

B

C

E

F

G

H

I

K

L

M

N

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V

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A

Australian and New Zealand Institute of Insurance and Finance

AgileAsia Pte Ltd

Accord Business Solutions Pte Ltd

A.B. Maximus & Co

Agilitics Pte. Ltd.

ATD Solution (S) Pte. Ltd.ACAMS Chapter (Singapore)

B

Beacon Consulting Pte Ltd

BTS Asia Pacific Pte Ltd

C

Compas Management Consulting Pte Ltd

CFA Singapore

Capelle Academy Pte Ltd

CyberQuote Pte Ltd

Center for Creative Leadership (CCL) Pte Ltd

CAIA Association Singapore Office Limited

Chartered Banker Institute

E

Euromoney (Singapore) Pte Ltd

Eagles Flight Asia Pte Ltd

Emarsity Pte Ltd

F

Falco Academy Pte. Ltd.

Financial Planning Association of Singapore (FPAS)

Financial Life Coaching Pte Ltd

FHL Capital Pte Ltd

FinTech Academy Pte Ltd

Fitch Learning Singapore Pte Ltd

Financial Services Manager Association (FSMA)

Flame Centre Pte Ltd

Financial Perspectives Pte Ltd

Fintelligence Ltd

G

Global ICT Training & Certification Pte Ltd

Global Association of Risk Professoinals (GARP)

Garranto Pte. Ltd.

H

Hubbis Pte Ltd

Hyper Island Institute of Higher Education Pte Ltd

I

IIL Asia Pte Ltd

International Compliance Training Academy

Institute for Mergers, Acquisitions and Alliances (IMAA) (Singapore) Pte. Ltd.

IFMF Investment Academy Pte. Ltd.

Intuition Publishing Pte Ltd

Institute of Singapore Project Management

K

Kapitalminds Pte. Ltd.

Kaplan Higher Education Academy Pte. Ltd.

Korn Ferry (SG) Pte Ltd

KnowledgeHut Solutions Pte Ltd

L

Laures Solutions Pte. Ltd.

Lightbulb Capital (Singapore) Pte. Ltd.

Literacy Empowerment Pte Ltd

London School of Business and Finance Pte Ltd

M

mSolutions Pte Ltd

Monochrome Learning Solutions Pte Ltd

MB9 Private Limited

Momenta Group Pte Ltd

N

National University of Singapore - Strategic Technology Management Institute

Ngee Ann Polytechnic

NTUC Learning Hub Pte Ltd

Nayang Technologcial University, Nanyang Business School

National University of Singapore - Risk Management Institute

National University of Singapore - Institute of Systems Science

P

PRICEWATERHOUSECOOPERS RISK SERVICES PTE. LTD.

Q

Quantinsti Educational Ventures Pte. Ltd.

S

SMU - Financial Services

Singapore Institute of Management Group Limited

Sapience Consulting Pte Ltd

Salmon Thrust Pte Ltd

Singapore Quality Institute

Singapore College of Insurance Limited

SMU Lee Kong Chian School of Business

SMU Academy

Singapore University of Social Sciences

Singapore Exchange Limited

Software Education Asia Pte Ltd

SmartAcademy Pte Ltd

T

The Centre for Finance, Technology and Entrepreneurship Ltd

Tertiary Infotech Pte Ltd

The London Institute of Banking & Finance (APAC) Pte Ltd.

Trainocate (S) Pte Ltd

TMC Academy Pte Ltd

U

Unicorn Financial Solutions Pte. Limited

UAT Test for Training Providers

V

Vertical Institute Pte. Ltd.

W

Wealth Management Institute International Pte. Ltd.

Wealth Management Institute Limited

WWF-World Wide Fund for Nature (Singapore) Limited

Financial Institutions (In-house programmes)
  • Standard Chartered Bank (Singapore) Limited
  • Oversea-Chinese Banking Corporation Limited
  • BNP Paribas Singapore Branch
  • Prudential Assurance Co. Singpaore (Pte) Ltd
  • Citibank N.A.
  • Aviva Ltd
  • Credit Suisse AG
  • The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch
  • United Overseas Bank Limited
  • Goldman Sachs (Singapore) Pte.
  • AXA Insurance Pte Ltd
  • UBS AG
  • UAT Test for FI
  • Manulife (Singapore) Pte Ltd
  • The Great Eastern Life Assurance Company Limited
  • Malayan Banking Berhad
  • NTUC Income Insurance Co-Operative Limited
  • AIA Singapore Private Limited
  • Bank Julius Baer & Co. Ltd
  • Bank of Singapore Ltd
  • Citibank Singapore Limited
  • DBS Bank Ltd.
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