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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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T

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V

W

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C

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I

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A

A.B. Maximus & Co

Accord Business Solutions Pte Ltd

AgileAsia Pte Ltd

Agilitics Pte. Ltd.

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

Australian and New Zealand Institute of Insurance and Finance

B

Beacon Consulting Pte Ltd

BTS Asia Pacific Pte Ltd

C

CAIA Association Singapore Office Limited

Capelle Academy Pte Ltd

Center for Creative Leadership (CCL) Pte Ltd

CFA Singapore

Chartered Banker Institute

Compas Management Consulting Pte Ltd

CyberQuote Pte Ltd

E

Eagles Flight Asia Pte Ltd

Emarsity Pte Ltd

Euromoney (Singapore) Pte Ltd

F

Falco Academy Pte. Ltd.

FHL Capital Pte Ltd

Financial Life Coaching Pte Ltd

Financial Perspectives Pte Ltd

Financial Planning Association of Singapore (FPAS)

Financial Services Manager Association (FSMA)

FinTech Academy Pte Ltd

Fintelligence Ltd

Fitch Learning Singapore Pte Ltd

Flame Centre Pte Ltd

G

Garranto Pte. Ltd.

Global Association of Risk Professoinals (GARP)

Global ICT Training & Certification Pte Ltd

H

Hubbis Pte Ltd

Hyper Island Institute of Higher Education Pte Ltd

I

IFMF Investment Academy Pte. Ltd.

IIL Asia Pte Ltd

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

Institute of Singapore Project Management

International Compliance Training Academy

Intuition Publishing Pte Ltd

K

Kapitalminds Pte. Ltd.

Kaplan Higher Education Academy Pte. Ltd.

KnowledgeHut Solutions Pte Ltd

Korn Ferry (SG) 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

MB9 Private Limited

Momenta Group Pte Ltd

Monochrome Learning Solutions Pte Ltd

mSolutions Pte Ltd

N

National University of Singapore - Institute of Systems Science

National University of Singapore - Risk Management Institute

National University of Singapore - Strategic Technology Management Institute

Nayang Technologcial University, Nanyang Business School

Ngee Ann Polytechnic

NTUC Learning Hub Pte Ltd

P

PRICEWATERHOUSECOOPERS RISK SERVICES PTE. LTD.

Q

Quantinsti Educational Ventures Pte. Ltd.

S

Salmon Thrust Pte Ltd

Sapience Consulting Pte Ltd

Singapore College of Insurance Limited

Singapore Exchange Limited

Singapore Institute of Management Group Limited

Singapore Quality Institute

Singapore University of Social Sciences

SmartAcademy Pte Ltd

SMU - Financial Services

SMU Academy

SMU Lee Kong Chian School of Business

Software Education Asia Pte Ltd

T

Tertiary Infotech Pte Ltd

The Centre for Finance, Technology and Entrepreneurship Ltd

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

TMC Academy Pte Ltd

Trainocate (S) Pte Ltd

U

UAT Test for Training Providers

Unicorn Financial Solutions Pte. Limited

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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