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A Guide To IBF Funded Courses [IBF Singapore 2022]

by | May 13, 2022 | Blogs | 0 comments

First of all, what does IBF stand for?

IBF stands for the Institute of Banking & Finance (IBF) Singapore. It is the national accreditation and certification agency for financial industry competency in Singapore under the Skills Framework for Financial Services, which were developed in partnership with the industry. 

What is the IBF Standards Training Scheme and IBF Funding?

The IBF Standards Training Scheme (“IBF-STS”) provides funding/course fee subsidies to eligible company-sponsored individuals and self-sponsored individuals who complete training and assessment courses accredited under the Skills Framework for Financial Services. Singaporean Citizens and Permanent Residents may receive up to 90% funding support off course fees on IBF funded courses in Singapore.

Do I qualify for IBF Funding?

All Singaporeans and PRs are eligible for IBF funding. You must be physically based in Singapore and successfully complete the course (including fulfilling the minimum attendance requirements and passing the assessment component of the IBF-STS programme).

If you are a self-sponsored individual, you do not need to be from the financial industry to qualify for funding.

For more information, please visit the IBF website.

Can I utilize my SkillsFuture Credits or NTUC UTAP for the course?

The below only applies to select courses that have been approved for SkillsFuture Credits or NTUC UTAP.

​SkillsFuture Credits

All Singaporeans aged 25 years old and above can use their SkillsFuture Credits to fully offset the remaining course fees after IBF funding. Singaporeans aged 25 and above will generally have between $500 to $1,000 SkillsFuture Credits to use. You can check your SkillsFuture Credits balance here.

NTUC Union Training Assistance Programme (UTAP)

In addition, NTUC members can utilize UTAP to offset 50% of remaining course fees (capped at $250 per year).  You may find out more about UTAP here.

Vertical Institute’s IBF-accredited courses

Vertical Institute provides in-demand IBF-accredited tech courses which are also eligible for SkillsFuture Credits usage and NTUC UTAP funding. To find out more information, you may visit the links below:

The three courses consist of seven lessons each, with each lesson lasting three hours.

Classes are conducted on evenings or weekends to minimize disruption to business hours. The courses are designed to be completed within a month, and participants will be taught by industry experts who work in leading companies such as Google, Alibaba, and Gojek.

Participants who complete the IBF accredited course will receive an industry recognized certificate of completion.

How do I sign up for a course?

To register for this course, sign up here on our website. Our admissions team will get in touch with you to guide step-by-step soon after.

For further clarification on course content, schedules or fees, reach out to us at [email protected], or call/WhatsApp us at 8817 2578.

About Vertical Institute

Vertical Institute prepares individuals for the jobs of tomorrow. We specialize in teaching in-demand skills, building the next generation of changemakers and inventors through our world-class tech courses and certifications.

Vertical Institute is accredited by the Institute of Banking & Finance (IBF) Singapore. All our courses are government-subsidized by IBF, eligible for SkillsFuture Credits usage, and NTUC UTAP Funding.

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