Veritas Phase 2: full FEAT assessment methodology and Toolkit v1 (concluded 4 Feb 2022)
Is this legally binding?
Guidance. Voluntary guidance. Best practice, not obligation, until a contract or a regulator cites it.
Phase 2 developed the full FEAT assessment methodology and Veritas Toolkit version 1, with core teams on fairness for insurance predictive underwriting (Swiss Re, Accenture), ethics and accountability for customer marketing and insurance fraud detection (UOB, AXA, Accenture), transparency for credit risk scoring and customer marketing (SCB, HSBC, Truera), and the toolkit (Accenture, Bank of China). Five white papers published.
From the source
“MAS announced the conclusion of Veritas Phase 2 on 4 February 2022”
MAS Veritas page: Project Phases, Phase 2
What this connects to
3 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
Phase of the Veritas project
Cited by2
- ConceptVeritas use case: insurance predictive underwritingGuidance
Phase 2 fairness methodology use case (insurance)
- ConceptVeritas use case: fraud detectionGuidance
Phase 2 ethics & accountability use case; Phase 3 Google Pay application
Learn this properly
This page tells you what this instrument is and whether it binds you. The AI Governance program teaches the whole discipline, with dedicated coverage of the Singapore governance stack and the MAS regime, and every topic is passed by explaining it back in your own words, graded against the source.
See the AI Governance programVerified against the official source on 2026-08-17. GAGE is not affiliated with or endorsed by any agency named here, and nothing on this page is legal advice. How this is built and checked.
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