What Is MAS FEAT Principles?

MAS FEAT Principles — the Monetary Authority of Singapore's 2018 principles for responsible AI in financial services, covering Fairness, Ethics, Accountability, and Transparency.

FEAT remains the primary AI governance framework for Singapore financial institutions a decade after publication. The MAS has supplemented it with the Veritas consortium tools (methodology for assessing FEAT compliance) and the AI Verify framework. FEAT is non-binding but supervisory expectations signal that large financial institutions are expected to demonstrate FEAT alignment. The four FEAT principles map reasonably well to later frameworks — NIST AI RMF Govern covers accountability, the EU AI Act covers transparency and fairness.

Source: MAS Principles to Promote Fairness, Ethics, Accountability and Transparency (FEAT) (2018)