How Much Does Managed IT Services Cost for a Financial Services Company in Singapore?

Managed IT services for financial services companies in Singapore typically cost between S$115 and S$175 per user per month, with most security-focused firms paying S$120 to S$155 per user per month for a licensed, compliance-aware solution. 

For financial firms with 20 to 80 employees, pricing depends on cybersecurity depth, audit expectations, regulatory exposure, and whether the company operates solely in Singapore or across Asia Pacific. Unlike general SMB IT support, financial services firms require structured governance, documented controls, and often licensed cybersecurity oversight which directly impacts cost. 

The Regulatory Cost Factor Most Financial Firms Overlook 

In Singapore, cybersecurity providers delivering certain managed security services must hold a license under the Cybersecurity Act, issued by the Cyber Security Agency (CSA). 

This means not every IT provider is positioned to deliver regulated-grade cybersecurity services. 

When evaluating pricing, financial services firms should ask: 

• Does the provider hold a CSA Cybersecurity Services License (if applicable to their services)? 

• Are they Cyber Essentials Certified? 

• Do they maintain documented governance processes? 

• Are their controls aligned with MAS Technology Risk Management (TRM) principles? 
  

Licensed and certified providers typically fall within the S$120–S$155 per user range, reflecting the higher operational and compliance standards required to support financial institutions. 

This creates a meaningful barrier to entry for low-cost, general IT providers. 

What Is Included at Different Pricing Levels? 

1.  S$100–S$115 per user/month – Basic IT Support 
   

Typically includes: 

• Business-hours helpdesk 

• Basic device monitoring 

• Patch management 

• Standard antivirus 
  

Often lacks: 

• 24/7 monitoring 

• Advanced endpoint detection 

• Formalized governance documentation 

• Compliance-aligned reporting 

• Licensed cybersecurity oversight 
  

For financial services firms, this tier may expose operational and audit risks. 

2.  S$120–S$155 per user/month – Security-First, Compliance-Aware MSP (Most Financial Firms) 
   

Typically includes: 

• Unlimited helpdesk support 

• 24/7 infrastructure monitoring 

• Endpoint Detection & Response (EDR) 

• Multi-Factor Authentication (MFA) 

• Identity and access management 

• Secure, tested backup & disaster recovery 

• Vulnerability management 

• Compliance-aligned documentation 

• Structured quarterly security reviews 

• Advisory-led risk assessments 
  

Providers operating in this tier often: 

• Hold CSA cybersecurity licensing (where required) 

• Maintain Cyber Essentials Certification 

• Align controls to MAS TRM principles 

• Operate under documented security governance frameworks 
  

This pricing reflects the maturity required to support financial advisory firms, fintech startups, and investment firms responsibly. 

3.  S$155–S$175+ per user/month – Advanced Compliance & Multi-Entity Support 
   

Often includes: 

• Security Operations Centre (SOC) monitoring 

• SIEM logging and advanced threat analytics 

• Extended log retention 

• Dedicated compliance advisory 

• Multi-country infrastructure governance 
  

Common among: 

• Firms expanding across APAC 

• Companies preparing for licensing 

• Investor-backed fintech facing formal due diligence 

Why Licensed & Certified MSPs Cost More and Why That Matters 

Financial services firms face elevated risk due to: 

1. Sensitive financial and client data exposure 

2. Reputational damage from breaches 

3. Investor due diligence requirements 

4. MAS TRM–influenced governance expectations 

5. Audit evidence and documentation standards 
   

An MSP that holds: 

• CSA Cybersecurity Services License 

• Cyber Essentials Certification 

• Structured security governance procedures 
  

… must maintain internal controls, documented processes, and trained security personnel.  

This operational maturity increases cost but significantly reduces risk. 

In financial services, lower pricing often means lower governance standards. 

What Factors Influence Your Final Monthly Cost? 

Your final per-user rate depends on: 

• Number of employees (20–80 range typical) 

• Total devices and endpoints 

• Cloud infrastructure complexity 

• Security stack depth (EDR, monitoring, logging) 

• Backup frequency and recovery objectives 

• Regional APAC footprint 

• Audit or licensing readiness 
  

For example: 

• A 25-person advisory firm operating solely in Singapore may fall near S$120 per user 

• A 70-person fintech with cross-border operations may fall between S$150–S$170 per user 

What Is Usually Not Included in Per-User Pricing? 

Even at S$120–S$155 per user, most agreements exclude: 

• Major cloud migrations 

• Large transformation projects 

• Formal audit remediation programs 

• Third-party licensing fees 

• Hardware lifecycle refreshes 
  

Clear scoping avoids future billing disputes. 

How to Identify an MSP That Is Truly Qualified for Financial Services 

Before selecting a provider based solely on cost, ask: 

• Are they licensed by CSA for cybersecurity services (if applicable)? 

• Are they Cyber Essentials Certified? 

• Can they articulate how their controls align to MAS TRM principles? 

• Do they conduct structured risk assessments? 

• Do they provide formalized quarterly security reviews? 
  

If the provider cannot clearly answer these questions, they may not be operating at the standard required for financial services firms. 

Real-World Example 

A 35-person Singapore-based fintech firm transitioned from reactive IT support to a licensed, security-first managed IT provider at approximately S$130 per user per month. 

Within 6 months, they: 

• Implemented structured identity access controls 

• Centralized endpoint monitoring 

• Reduced phishing exposure 

• Standardized backup testing 

• Improved investor confidence during due diligence 
  

The predictable monthly model strengthened operational resilience and reduced unmanaged risk. 

Final Thoughts 

For financial services firms in Singapore with 20 to 80 employees, managed IT services typically cost S$120 to S$155 per user per month, with advanced compliance environments reaching S$175 per user. 

While lower-cost options exist, firms should evaluate whether those providers: 

• Hold appropriate cybersecurity licensing 

• Maintain recognized security certifications 

• Operate under structured governance frameworks 

• Understand the MAS TRM environment 

• Can demonstrate financial services specialization 
  

In a risk-sensitive industry, the true cost of IT is not just monthly fees, it is operational resilience. 

Evaluate Your Current IT Cost & Risk Exposure 

If you are a financial services firm in Singapore with 20 to 80 employees and are currently paying within or outside the S$120 to S$155 per user range, it may be worth reviewing: 

• Whether your current provider holds appropriate cybersecurity licensing 

• Whether your security controls align with MAS TRM expectations 

• Whether your governance documentation would withstand investor or audit scrutiny 

• Whether your pricing reflects true security maturity or just basic IT support 
  

We offer a structured IT & Security Posture Review specifically for financial services firms. 

This review evaluates: 

• Cost alignment vs. market benchmarks 

• Control gaps relative to MAS TRM–influenced standards 

• Licensing and certification exposure 

• Risk posture across identity, endpoint, monitoring, and backup 
  

There is no obligation. The goal is clarity. 

If you would like an independent assessment of your current IT maturity and pricing structure, you can request a consultation with our team.