Course funding
IBF Funding Programme
What is the IBF Standards Training Scheme?
The IBF Standards Training Scheme (“IBF-STS”) provides funding for training and assessment programmes accredited under the Skills Framework for Financial Services. More information regarding the scheme can be found below.
Our IBF Accredited Courses!
Data Analytics, IT Management, Governance and Regulatory Compliance, Business Development and Strategy Management
(Funding support from 1 Jan 2024)
IBF-STS Funding Quantum
Training Programmes commencing 1 Jan 2023
Self-Sponsored
- Singapore Citizens and PRs: 50% of direct training cost(capped at $3000 per participant per course).
- Singapore Citizens aged 40 years old and above: 70% co-funding of direct training costs (capped at $3000 per participant per course).
Company Sponsored Individuals*
- Singapore Citizens and PRs: 50% of direct training cost(capped at $3000 per participant per course).
- Singapore Citizens aged 40 years old and above: 70% co-funding of direct training costs (capped at $3000 per participant per course).
*Companies eligible to submit claims for company-sponsored participants:
- Singapore-based financial Institutions regulated by MAS (licensed or exempt from licensing by MAS)
- FinTech firms certified by Singapore FinTech Association
For more information on the IBF Standards Training Scheme (IBF-STS)
Trainings delivered by Sapience which are supported under the IBF Standards
Training Scheme will be subjected to the following terms and conditions.
Training Venue
- Attendance will be taken twice daily.
- Masks will need to be worn during the conduct of the class
- Participants who are physically unwell will not be allowed to attend the class.
- Attendance will be taken twice daily.
- Your camera will need to be turned on for the duration of the training
- The entire training session will be recorded for audit and compliance purpose
Company Sponsored Delegates
Sapience reserves the right to change the date, time and trainer due to factors outside of its control.
Sapience is not responsible for any loss or damage as a result of an alteration, postponement or cancellation of a course under any circumstances.
Sapience does not provide refund for cancellation if the delegate is unable to attend. A substitute delegate is welcome at no extra charge. The invoiced sums are payable in full within 30 days of the invoice date.
For Singaporean/PR delegate who drops out halfway through the course OR did not attend the course in full OR did not pass the assessment associated with the course (if any), you will not be eligible for the course fee subsidy and the IBF Credit.
Self-Sponsored Delegates
Sapience reserves the right to change the date, time and trainer due to factors outside of its control.
Sapience is not responsible for any loss or damage as a result of an alteration, postponement or cancellation of a course under any circumstances.
Sapience does not provide refund for cancellation if the delegate is unable to attend. The invoiced sums are payable in full prior to course commencement date. You may however reschedule your course to another date (of the same course or a different course of lesser value). Amendment must be done via written email to [email protected] before course confirmation is sent to you. No amendment will be allowed once the course is confirmed.
For Singaporean/PR delegate who drops out halfway through the course OR did not attend the course in full OR fail the assessment associated with the course, you will not be eligible for the course fee subsidy, IBF Credit and Training Allowance Grant.
Attendance Requirements
To qualify for IBF-STS or FTS funding, participants must successfully complete the IBF recognised courses (including passing the relevant assessments, where applicable).
In-course Assessment
The In Course Assessment will be conducted at the end of the IBF-STS endorsed programme. Delegates must pass the in course assessment in order to qualify for the corresponding IBF Fundings
In the event delegates are not able to pass the in course assessment on the first attempt, the delegate will be offered a second attempt at the in course assessment immediately after the results have been released. This second attempt will be offered at no cost to the delegate.
Should the delegate choose not to take up the second attempt at the in course assessment immediately and opt to reschedule the in course assessment to a later date, an administrative processing fee of SGD$100 will be charged.
For third and subsequent attempts at the in course assessment, an administrative processing fee of SGD$100 will apply for each attempt.
A maximum of 5 attempts will be allowed for each delegate.
Appeals
Delegates requesting for a review of their in course assessments results are required to submit a email request to [email protected]
An administrative processing fee of SGD$100 will be charged for each appeal review. This processing fee will be refunded to the applicant should the appeal be successful.
Appeal reviews will be completed within 14 business days and a official response will be provided by email to the delegate.
Clawback of Subsidies
IBF-STS Subsidies is provided to participants on the condition that the participant
a) completes the course with the necessary attendance requirements
b) obtain a pass grade in the in course assessment conducted at the end of the course.
In the event that a participant is not able to fulfill either or both conditions a) and b) listed above, participants will be required to pay to Sapience Consulting the full value of the course as indicated in the invoice.
Post-course
IBF Certification
IBF Certification is an industry endorsed mark of quality for finance professionals in Singapore. Individuals who successfully complete an eligible IBF-Standards Training Scheme (“IBF-STS”) accredited training and assessment programme and meet the relevant criteria may apply for IBF Certification.
Why be IBF Certified, and certification levels
Funding Available
Terms and conditions apply.
Please visit our IBF STS programme page for full details. PSEA page for more info.
Terms and conditions apply.
Please visit our SkillsFuture Credit page for full details.
Terms and conditions apply.
NTUC members can use the Union Training Assistance Programme (UTAP) to partially cover the cost of their training.
Visit our UTAP page for more info.
Terms and conditions apply.