SmartFunding has in place the following arrangements to protect Investors:
Client Money Account (CMA)
- In compliance with the MAS regulatory requirement, we have created a Client Money Account (CMA) with DBS bank for monies transferred by our Investors and Borrowers.
- If SmartFunding must cease its operations, monies held in the CMA account will not be liable for any payments owed by SmartFunding. This also ensures that deposits made by Investors to their Investor Wallet (that are not yet invested), can be safely withdrawn to their preferred bank account at their own discretion.
Backup Provider
- We have in place a Backup Service Arrangement Agreement with a service provider which, in the event of SmartFunding’s bankruptcy, will take over SmartFunding’s roles and obligations, including :
(a) facilitating of payments between our Investors and Borrowers;
(b) initiating debt collection from Borrowers who have defaulted;
(c) facilitating investor’s instruction for the withdrawal of funds from the CMA account .