SINGAPORE – Singapore banks and fintech firms that put out online financial content, such as on social media channels, say that they are well-prepared for

stricter guidelines set to kick in

from March 25.

From strengthening engagement with content creators to bolstering safeguards against misinformation, several players who spoke to The Straits Times said the guidelines are a positive step towards building trust in online financial content here.

The Monetary Authority of Singapore (MAS) published guidelines in September 2025 to establish expectations for financial institutions on responsible and professional digital advertising. It also issued a guide for online content creators.

The development came after Chocolate Finance

paused instant withdrawals on March 10, 2025

after experiencing an unusually high volume of withdrawal requests.

It was triggered by two financial influencers , or finfluencers, who posted online about plans to withdraw their funds, spurring more customers to do the same.

MAS said that financial institutions and their digital marketers are increasingly using digital media, particularly social media platforms, for advertising activities.

However, issues such as misleading and unbalanced advertisements, use of digital media for advertising without prior authorisation or use of deceptive practices to solicit leads on social media may arise if such use is not properly managed, MAS noted.

As such, the guidelines set out safeguards that financial institutions should put in place and adhere to when conducting digital advertising activities.

The guidelines include ensuring that the choice of digital media is appropriate for advertising financial products and services, as well as monitoring digital advertising activities conducted by digital marketers to ensure effective oversight.

Many of these guidelines had been raised in various consultation papers since 2023.

Chocolate Finance said that it has been preparing well ahead of MAS’ March deadline.

Said its founder and chief executive Mr Walter de Oude: “We’ve witnessed first-hand the power and influence that financial content creators have in swaying public opinion, and made the decision to reassess every digital and marketing partner we work with.”

This involved engaging influencers and creators through structured, long-term partnerships that clearly set expectations around content standards, product understanding and accountability.

Mr Jason Huan, chief marketing officer at wealth advisor and investment platform Endowus, said that the rise of short-form content, influencer-led discussions and artificial intelligence-generated material have blurred the lines between education, opinion and business solicitation.

“From a regulator’s perspective, this introduces real risks of misselling or misrepresentation, even if intentions are not malicious,” he noted.

While Endowus’ core approach remains unchanged, it has strengthened documentation, approval workflows and oversight to ensure clarity and responsibility in communications online.

But special attention was paid to engagement with external parties, especially content creators, Mr Huan said. “Key to this was ensuring that there was little to no room for misinformation and misrepresentation.”

Syfe said the new guidelines are an important step in reinforcing a shared responsibility to provide complete, transparent and contextual information across the industry.

The firm actively uses social media to engage and educate audiences in Singapore about wealth management, but every short-form post is designed to lead users to fuller context, according to a Syfe spokesperson.

StashAway said it has long had internal marketing frameworks that govern how it explains its investment solutions across all channels, including through influencer collaborations.

“All sponsorships are clearly disclosed, and we work closely with creators to develop engaging content that is accurate and educational,” said its co-founder and CEO Michele Ferrario.

Since the release of the MAS guidelines, StashAway has reviewed its existing frameworks to reaffirm its alignment with the requirements, Mr Ferrario added.

The local banks said they already have robust processes and strict controls in place to ensure their online financial content meets MAS guidelines.

DBS consumer banking group Singapore’s head of marketing Lim Bee Bee said that the bank regularly conducts rigorous reviews to ensure all product information disclosures are transparent and fair, with strict marketing controls in place.

“For instance, all our digital advertising activities involving financial content need to undergo checks that they have the necessary certifications, good track records, and ethical business practices,” she noted.

OCBC said it is already deliberate in selecting the digital channels it uses and the digital marketers it partners with to share financial information.

When choosing digital marketers and content creators to partner with, there is a robust framework to assess them including rigorous background checks, said Ms Rachel Lew, head of risk and prevention for Singapore at OCBC.

UOB has also strengthened existing safeguards to ensure responsible financial communication online, said Ms Janet Young, the bank’s head of group channels and digitalisation, strategic communications and brand.