Is FEAT Transparency assessment methodology legally binding?

Q: Is FEAT Transparency assessment methodology legally binding?

FEAT Transparency assessment methodology is guidance in Singapore. Voluntary guidance. Best practice, not obligation, until a contract or a regulator cites it. Assessment methodology for the FEAT transparency principles, developed in Phase 2 by SCB, HSBC and Truera for credit risk scoring and customer marketing use cases; published as Veritas Document 3C (Feb 2022).

ConceptGuidance

FEAT Transparency assessment methodology

Is this legally binding?

Guidance. Voluntary guidance. Best practice, not obligation, until a contract or a regulator cites it.

Assessment methodology for the FEAT transparency principles, developed in Phase 2 by SCB, HSBC and Truera for credit risk scoring and customer marketing use cases; published as Veritas Document 3C (Feb 2022).

mas.gov.sgMAS Veritas page: Phase 2 documentsShow it on the map

What this connects to

1 relations. Official relations are the ones the source documents state; anything marked GAGE analysis is our reading, not an agency's.

Cites1

InstrumentVeritas Initiative (MAS-led consortium)Guidance
Assessment methodology published by the consortium

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