Overcome Compliance Challenges With Cynopsis Solutions - A Look Into Tiger Brokers Use Case


Today, we would like to take the time to introduce you to one of our clients - Tiger Brokers, and give you an overview of how our solutions assist them in overcoming compliance pain points and fulfilling their regulatory needs. Tiger Brokers (Singapore) Pte Ltd, an entity regulated by the Monetary Authority of Singapore, offers online securities and futures trading platform to both retail and institutional clients. As a company offering brokerage services, it is imperative for Tiger Brokers to adhere to the laws and regulations of the jurisdictions they operate in. Due to the large amounts of money being involved in their sector, stringent KYC/AML rules have to be met, in order to deter any unwanted clients or entities, involved for example in money laundering or terrorism financing, from utilising their platform.


This is where Artemis, our automated eKYC platform comes in. Artemis helps conduct individual and corporate risk assessment and risk screening against our integrated global databases to identify whether clients are politically exposed persons, have been placed under sanctioned or adverse news, or will be potentially categorized as high-risk. Based on the risk assessment and screening results, Artemis provides risk scoring and recommended risk levels and also keeps track and conducts ongoing due diligence on clients ensuring they are being screened on a recommended basis according to their risk levels. To accelerate Tiger Broker’s compliance process, we have employed the Artemis Digital Verification feature and OCR. Digital verification functions by combining AI with advanced biometric technology and human intelligence to conduct identity and facial verification through a comparison of a client's selfie and identification photo. Artemis's optical character recognition function also known as OCR utilizes image processing to do a comparison between the client’s passport details and the given information and the client’s profile to ensure information accuracy. All the clients’ documents are digitised and are retrievable and accessible instantaneously.


“Tiger Brokers (Singapore) Pte Ltd, an entity regulated by Monetary Authority of Singapore, offers online securities and futures trading platform to both retail and institution clients. Being a fintech company, we provide fast account opening and easy access to global markets. Therefore, it is important for us to have a strong KYC/AML and transaction monitoring structure to ensure that the platform is not being used for any ML/TF activities. By engaging Cynopsis Solution services, it has strengthened our KYC/AML structure and enhanced the existing onboarding procedures.” as quoted by Ivan Koh, the Operation Manager from Tiger Brokers. We are happy to say Tiger Broker has been our satisfied client for the past year and we are continually assisting them in strengthening their KYC/AML structure and enhancing their existing onboarding procedures.


About Cynopsis Solutions

Cynopsis Solutions was established in Singapore in 2014 and offers Regulatory Technology (Reg Tech) solutions designed to automate KYC processes. It has operations in Singapore, UK, Taiwan and Vietnam. Cynopsis Solutions is a winner of MAS FinTech Awards 2018 and has been recognized as one of the REGTECH100 – an annual list of 100 of the world’s most innovative RegTech companies as determined by RegTech Analyst, a RegTech intelligence platform.


Our end-to-end solution is designed according to the global FATF recommendations, applicable in 180 jurisdictions and is already helping more than 1,600 clients in the Banking, Financial Services, Professional Services and Gaming sectors globally to achieve better regulatory outcomes, improve efficiency and reduce cost.


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