fbpx
🎉 Stay safe and learn from the convenience of your home. All classes are conducted virtually. 🧑‍💻

What is the IBF Standards
Training Scheme (IBF-STS)?

The IBF Standards Training Scheme, offered under the IBF funding, provides course fee subsidies for training and assessment programmes accredited under the Skills Framework for Financial Services. It is open to both eligible self-sponsored individuals and company-sponsored individuals.

Eligible for SkillsFuture Credits - Vertical Institute

Am I eligible for IBF Funding?

The eligibility requirements are:

  1. Applicants must be a Singaporean citizen or a Permanent Resident (PR) that is physically based in Singapore.
  2. Applicants must successfully complete the course, which includes fulfilling the minimum attendance requirements and passing the assessment component of the programme.

IBF-STS Funding Quantum

  Course commencing between
1 July 2022 - 31 December
2022 (Both dates inclusive)
Course commencing
1 Jan 2023
Eligible Singapore Citizens and PRs Funding amount for direct training costs:
  • 70% capped at S$7,000 per participant per course
Funding amount for direct training costs:
  • 50% capped at S$3,000 per participant per course
Eligible Singapore Citizens aged 40 years and above Funding amount for direct training costs:
  • 90% capped at S$7,000 per participant per course
Funding amount for direct training costs:
  • 70% capped at S$3,000 per participant per course

How do I obtain the IBF Funding?

IBF funding support operates on a nett fee model. Eligible self-sponsored and company-sponsored individuals are only required to pay the unsubsidised portion of the course fee. The nett fee can then be fully paid with your SkillsFuture Credits.

Training providers will claim the course fee subsidy from IBF directly.

How to Claim IBF Funding

1. Self-sponsored Individuals
Self-sponsored individuals are not required to submit claims for the subsidy. Upon successful completion of the course, your training provider will help to submit the course fee subsidy claims to IBF.

2. Company-sponsored Individuals
Company-sponsored individuals must be working in an eligible company such as the following:

  • Financial Institutions that are regulated by the Monetary Authority of Singapore
  • Singapore FinTech Association (SFA) certified FinTech Firms

What courses can I sign up for with the IBF funding?

Upskilling in tech has become the new norm for many individuals, especially with technological
advancements and a shift in job operations. With the IBF funding, you’ll be able to kickstart your upskilling
journey and learn high-growth tech skills. Vertical Institute offers tech courses that are eligible for IBF
funding. For more information, please visit the links below:

Data Analytics course - Vertical Institute
5

Data Analytics

Master Excel, SQL and Tableau. Learn how to leverage data to make
critical business decisions.

From $425 after funding*
Claimable with SFC and UTAP

Digital Marketing Website Icon - Vertical Institute

Digital Marketing

5

Gain digital marketing skills in SEO, SEM, Facebook, Instagram, TikTok and more.

From $280.50 after funding*
Claimable with SFC and UTAP

UX Design course - Vertical Institute

UX Design

5

Learn to design meaningful digital experiences and build your portfolio.

From $280.50 after funding*
Claimable with SFC and UTAP

Data Science course - Vertical Institute

Data Science

5

Learn Python and machine learning to drive powerful predictions through data.
 

From $425 after funding*
Claimable with SFC and UTAP
All four courses consist of seven lessons each, with each session lasting three hours.
To better fit your schedule, classes are held on evenings and weekends.
Beginner-friendly and structured to be completed in a month, the lessons are conducted by industry
Experts that come from top tech companies such as Google, Gojek, and Apple.
Upon successful completion of the course, participants will receive a professional certification

To join our courses, simply sign at Vertical Institute. Our admissions team will get in touch with you shortly after for step-by-step guidance.

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

Frequently Asked Questions

What does IBF refer to?

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 was established in partnership with the industry.

What is IBF funding?

There are two main schemes provided under the IBF funding – IBF Standards Training Scheme (IBF-STS) and IBF Financial Training Scheme (FTS). Under these schemes, eligible individuals may receive up funding support off course fees on IBF funded courses in Singapore.

How do you qualify for IBF funding?

For Self-Sponsored:
All Singaporeans or Singapore Permanent Residents (PRs) that are physically based in Singapore and successfully complete the course will be eligible.

  • Be a Singaporean Citizen or PR physically based in Singapore
  • Minimum of 75% attendance (this means that you must attend at least 6 out of 7 lessons)
  • Pass the assessment

 

For Company-Sponsored:

  • Be from Financial Institutions that are regulated by the Monetary Authority of Singapore (MAS) (either licensed / exempted from licensing) or Fintech companies that are registered with the Singapore Fintech Association.
  • Be a Singaporean Citizen or PR physically based in Singapore
  • Minimum of 75% attendance (this means that you must attend at least 6 out of 7 lessons)
  • Pass the assessment