Increasingly around the world, governments are tightening up regulatory controls over the latest “in” thing — FinTech. These changes make it difficult for companies to keep up and comply to the regulatory requirements unerringly. While large corporates may have the resources and capabilities to keep their regulatory compliance practices in check, smaller companies still struggle to meet these regulations under cost and time restraints. These companies including FinTech and Blockchain startups, may not yet have the capacity to stay on track as quickly. Recognising such issue, FinTech Association of Hong Kong (FTAHK) organised the RegTech Live! on 15th May, gathering some of the world’s most innovative RegTech solutions for emerging KYC and AML needs.
In sight of rising cases of money laundering and terrorism financing, many new and stricter regulations are put in place for the FinTech industry. FinTech companies now face the challenge of building a seamless compliance process in the most resource-efficient way. Cynopsis Solutions aims to build the bridge between companies and these regulatory requirements, in particular anti money laundering (AML), counter terrorism financing (CTF) and Know-Your-Customer (KYC). One of our primary goals is to be the #RegTech for #FinTech, and subsequently for Blockchains. At this event, Dan (Sales Director of Cynopsis, CMO & Co-founder of traceto.io) presented the solution for FinTech companies — Artemis, Cynopsis Solutions’s flagship product.
What is Artemis?
Artemis is a simple, cost-effective one-stop software to automate complex regulatory requirements on KYC, AML and CTF. Till today, Artemis has been tried and implemented by more than 500+ B2B clients around the world in just more than 40 months of operations. Our vision is to achieve Regulatory Inclusion by making compliance processes easier for smaller companies to follow. Artemis extends its product coverage to not just the FinTech industry, but also the professional services, financial institutions, startups and cryptocurrencies.
How do we achieve it?
So how does Cynopsis Solutions help to create a seamless compliance process? Cynopsis Solutions leverage on Artificial Intelligence (AI) to automate the manual and to digitise the analogue. To put it simply, we (1) automate your KYC and AML practices and (2) assist in your ongoing due diligence through technology. Currently, we have more than 3000 users globally and proudly selected as one of RegTech 100 companies in the world as well as the only founding member of the RegTech Association in Australia.
As new regulations continue to kick in, companies have to constantly seek new ways to keep up with this change. Cynopsis Solutions provides solutions that allow companies to stay ahead of the regulatory curve and focus on what matters most — their Core Business. Book a demo with us to see how we can design a seamless KYC and AML process for your company.
Watch the full video of the RegTech Live! Hong Kong at the following link: https://vimeo.com/273619096