Newsletter - Mar'17

 
We embarked on April somewhat with a Big Bang
From participating in RemTECH Awards, speaking at Finnovasia KL,
To co-authoring The RegTech Book.
Then onto becoming a Founding Member of The RegTech Association;
Honoured to be interviewed by fintechnopreneur.com 
and to be invited to speak at ISCA 6th SMP Dialogue.
Amongst all that, we found a little time to write an article about FATF MERs.
More importantly, we also crossed the 100 clients milestone at the same time.

Interview with fintechnopreneur.com

On 20 April, Chye Kit spoke with fintechnopreneur.com and shared our journey and experience in building Cynopsis over the last 3 years. More exciting times ahead. We are thankful to Mr. Chia Hock Lai, President of Singapore FinTech Association for the great opportunity. 

ISCA 6th SMP Dialogue

On 20 April, Cynopsis Solutions was invited to speak at ISCA 6th SMP Dialogue where Chye Kit shared his views about how Accountants can overcome EP200 implementation challenges. Short of not being able to sell koyok on stage, he introduced the concepts of 9 Steps to Nirvana and 4 Pillars of AML/CTF to the "over-subscribed" event with more than 150 participants.  

Finnovasia,

Kuala Lumpur

On 21 Mar, Cynopsis was invited to speak at Finnovasia, KL 2017. During the RegTech Workshop, we spoke about our experiences in product development as well as application of RegTech beyond the typical large banks and financial institutions. 

Artemis & Athena Participate in RemTECH Awards

Cynopsis Solutions has submitted its entry for the RemTECH Awards organised and developed by remittance expert Mr. Hugo Cuevas-Mohr in partnership with Mohr World Consulting and IMTC Conferences. Our Double-Ace products, Artemis + Athena participated in the Category of Compliance / KYC / AML / CTF. 

Cynopsis Joins The RegTech Association as

Founding Member

On 30 Mar, Cynopsis is proud to join The RegTech Association as a Founding Member. It is also the only Singapore-based RegTech company amongst the other 11 Founding Members with Australian origin. In time to come, the idea is expand the collaboration across more RegTech companies in the world.

The RegTech Book

It is with great pleasure to announce that our abstract has been selected to be part of the inaugural publication of The RegTech Book by Wiley.  Out of a total of 235 submissions, 76 authors are selected for this publication. Chye Kit will co-author in the Chapter on RegTech Applicability Outside of The Financial Services Industry. There is a fair bit to talk about here in respect of AML/CTF and DNFBPs. Publication scheduled to be in Jan 2018. Stay tuned. 

FATF Mutual Evaluations

In March 2017, FATF published a consolidated assessment ratings of 30 jurisdictions that have gone through the 4th Round of MERs against the 2012 FATF Recommendations, using the 2013 FATF Methodology. The actual publication can be found here.

 

We did a quick Chi-Square statistical analysis on the results to determine if technical compliance of the 40 Recommendations (R) across the 30 jurisdictions assessed has any significant correlation/association with the effectiveness of AML/CTF program as reflected through the 11 Immediate Outcomes (IO).