FSTI 3.0 — Artificial Intelligence and Data Analytics (AIDA) Grant

FSTI AIDA Grant

Funds small Singapore financial firms adopting AI and analytics through MAS support for practical deployment.

The Artificial Intelligence and Data Analytics (AIDA) Grant is a co-funding programme administered by the Monetary Authority of Singapore (MAS) under the Financial Sector Technology and Innovation (FSTI) scheme and the Financial Sector Development Fund (FSDF). Launched in October 2021 and extended until 16 July 2026, the grant supports Singapore-based financial institutions and FinTechs in adopting AI and data analytics techniques across a wide range of use cases including business intelligence, regulatory reporting, data governance, cybersecurity, fraud detection, banking KYC, insurance underwriting, portfolio allocation, and fund manager analytics.

MAS provides up to 30% co-funding of qualifying expenses, capped at SGD 500,000 per application. For manpower costs attributable to non-Singapore Citizens or non-Permanent Residents, the co-funding rate is reduced to a maximum of 15%. Eligible expense categories include direct manpower, professional services, hardware, software, equipment, intellectual property rights, capability transfer training, and external auditor costs; overseas expenses are also claimable. Three applicant categories are eligible: small Singapore-based financial institutions with no more than 200 employees at the time of application; FinTechs registered with the Singapore FinTech Association (SFA); and industry consortiums. Universities and research organisations are not eligible.

Applications are submitted to fintech_office@mas.gov.sg at least three months before project commencement. Post-grant obligations include periodic project status reports with key performance indicators, an auditor's certification accompanying each reimbursement claim, and workforce training and upskilling KPIs. Because FSTI runs until 16 July 2026 and applications must be approved before that date, organisations intending to apply should initiate contact with MAS well in advance to allow sufficient processing time.