The use of technology in the financial services sector has been on the rise and in a bid to accommodate this global phenomenon, the Financial Services Commission (FSC) launched the FSC One Platform on 12 August 2021 in the presence of eminent political figures as well as key industry players. The event was also virtually attended by more than 250 participants.

The FSC One Platform will facilitate the transition to online means of licensing by initially proposing a seamless processing of applications and will help applicants in tracking the authorisation process. Then at a later stage, it will provide an optimised process for the filing and conduct of oversight of FSC’s licensees. Further to the Financial Action Task Force’s March 2021 Guidance on risk-based approach by supervisors, the swift implementation of this digital platform is testament to the institution’s readiness and capacity to comply at best with the guidance of international standard-setting bodies.

This coordinated vision from the FSC and key industry players has now been set in motion and is expected to improve ease of doing business in Mauritius, thus consolidating the country’s position as an International Financial Centre of high repute.

For more information, access the full communique from the FSC here