The MAS has officially launched the Cyber and Technology Resilience Experts (CTREX) Panel, a pioneering initiative aimed at enhancing the operational resilience of the financial sector through advanced technology and cybersecurity measures.
This new panel, which replaces the former Cyber Security Advisory Panel, extends its focus to include not only cybersecurity but also the broader aspect of technology resilience.
With the digital transformation accelerating in the financial sector, MAS recognizes the urgent need to address potential technology risks and threats that could undermine the sector’s stability. The CTREX Panel is tasked with advising MAS on emerging technological risks and crafting strategies to fortify the cyber and technology resilience of Singapore’s financial institutions.
The panel is composed of 13 distinguished global industry thought leaders, experts, and practitioners from both cybersecurity and technology resilience fields. These members are slated to hold their inaugural meeting in mid-2025, marking a significant step forward in MAS’s commitment to maintaining a robust and secure financial environment.
MAS Managing Director, Mr Chia Der Jiun, highlighted the critical role of the new panel in ensuring the technological readiness of financial institutions. “As financial institutions become increasingly reliant on technology to deliver services, it is critical for them to be able to maintain technology resilience and manage cyber risks well. We look forward to tapping on the CTREX Panel to provide global perspectives to MAS and the industry on building these important capabilities, as we continue to forge ahead on our digitalisation journey,” said Mr Chia.
The establishment of the CTREX Panel underscores Singapore’s proactive approach to safeguarding its financial ecosystem against the evolving landscape of cyber threats and technological disruptions, ensuring that its financial sector remains secure and resilient in an increasingly digital world.
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