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Institute of Banking and Finance Standards Training Scheme (IBF-STS) covers funding for training and assessment courses that address key skills needed in the financial sector.

Only Singapore citizens and Permanent Residents (PR), physically based in Singapore are eligible to apply.

IBF-STS funding is available for both self-sponsored and company-sponsored individuals (company-sponsored individuals must be from financial institutions based in Singapore, and FinTech firms certified by Singapore FinTech Association (SFA). 

Self-sponsored individuals can also utilize their SkillsFuture credits along with the IBF-STS. 

Currently only the Prosci Change Management Certification Program (in-person delivery) is approved under the STS.

How to register:

  1. Submit your interest in the form on this page.
  2. Register on the Prosci Change Management Certification Program. Note to select payment option ‘payment via invoice’
  3. An e-invoice will be sent to your email address with net fees reflected, after deduction of funding amount.
  4. Payment must be made prior to the course commencement date for your seat to be officially confirmed

IBF-STS Funding Quantum

 Funding Quantum

  
  • For training programmes commencing 1 Jan 2023
  • Singapore Citizens and PRs: 50% capped at S$3000 per participant per course
  • Singapore Citizens aged 40 years and above: 70% capped at S$3000 per participant per course

 Eligible Individuals #
  • Both self-sponsored and company-sponsored individuals (company sponsored individuals must be financial institutions based in Singapore, and FinTech firms certified by Singapore FinTech Association (SFA). 
  • Singapore Citizens or Singapore Permanent Residents, physically based in Singapore; and
  • Successfully completed STS recognised programme (including passing all relevant assessments and examinations).

 

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.

Include licensed representatives such as luxury agents, financial advisors, and remisiers supported by FI principle and General Insurance (GI )agents registered with the General Insurance Association (GIA) Agent Registration Board.

^SkillsFuture Credit: (SFC) cannot be used to co-fund the programme fees of company-sponsored training programmes.

Funding Illustration 

(For illustration purposes only - please refer to program and funding links for current pricing)

Course Fee (SGD)  $5,950
9% GST $ 535.50

Funding Support

IBF-STS (70%) deduction capped at $3000 

 $ 3000
Total fee payable for company-sponsored individuals (SGD) $ 6,485.50 - $ 3000 = $ 3,485.50
SkillsFuture deduction (depending on credits available) $ 500
Total fee payable for self-sponsored individuals (SGD) $ 2985.50