How MAS’s FEAT principles and the Veritas toolkit shape AI use in Singapore banks, insurers and asset managers — supervisory expectations, not statute.
dgm is an independent osFoundry integration partner — not affiliated with osFoundry’s maker (OS LLC), and dgm has no completed client integrations yet.
For Singapore’s financial sector, AI governance runs through MAS — chiefly the FEAT principles and the Veritas toolkit. These are guidance and supervisory expectations, not statute, but they carry real weight. Here is how they apply.
| Item | Detail |
|---|---|
| FEAT | Fairness, Ethics, Accountability, Transparency (Nov 2018) |
| Veritas | Toolkit to operationalise FEAT (esp. fairness) |
| Status | Guidance / supervisory expectations, not statute |
| New | MAS AI risk-management guidelines (consultation closed Jan 2026) |
FEAT and Veritas
MAS co-created the FEAT principles (Fairness, Ethics, Accountability, Transparency) with the financial industry, published in November 2018, to promote responsible AI and data analytics in finance. The Veritas initiative built a methodology and toolkit (2020–2023) to operationalise FEAT, especially fairness assessment. These are principles and tooling, not statute — but MAS can take supervisory action against firms that ignore supervisory expectations.
Where it is heading
MAS released a consultation on Guidelines on AI Risk Management for financial institutions (consultation closed 31 January 2026, finalisation expected in 2026). Once finalised, these will be supervisory expectations assessed in MAS reviews — not hard statute, but consequential. The industry-led Project MindForge also concluded an AI risk-management toolkit in March 2026.
What it means for AI in finance
For regulated firms, AI in credit, pricing, claims and surveillance must be explainable, fair and accountable, with model documentation and validation. Favour AI tooling you can audit and govern. osFoundry’s managed cloud pins data to the US, EU or Japan — it does not currently offer a Singapore managed region (its nearest managed region is Japan). For data that must stay in Singapore, the honest path is self-hosting osFoundry (BYO Cloud) inside a Singapore cloud region such as AWS Asia Pacific (Singapore) ap-southeast-1, Microsoft Azure Southeast Asia (Singapore) or Google Cloud asia-southeast1 (Singapore), or running models locally on-device.
Where dgm fits
dgm is an independent integration partner that helps Singapore businesses adopt osFoundry — scoping a first use case, handling the build, and connecting AI to the systems you already run. dgm is independent of osFoundry’s maker (OS LLC) and has no completed client integrations yet, so everything described here is a service offered, not a past result. If you want to scope a practical first project, dgm can help you map it out.