We are honoured to have Yangbo, Tech Lead of Cynopsis Solutions, featured in one of the recent episodes of ‘This Is My Architecture (Singapore Series)’ by Amazon Web Services (AWS). In this episode, AWS invited Yangbo to explain how Cynopsis Solutions helps our clients to adhere to Monetary Authority of Singapore (MAS) guidelines.
Demonstrating how Cynopsis Solutions integrates with AWS technology to offer solutions that are both secure and compliant, Yangbo showcased the workflow of Cynopsis’s flagship product, Artemis, which helps to automate manual KYC, AML and CTF processes for our clients. By combining our team’s deep regulatory and compliance expertise with state-of-the-art technologies, we developed comprehensive solutions like Artemis to help our clients comply to local regulatory requirements specified by MAS with ease.
About 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 750+ 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, blockchain and cryptocurrencies related startups.
Smart use of functional technologies
Cynopsis Solutions leverages on Artificial Intelligence (AI) to automate the manual and to digitise the analogue. For data segregation purpose, we ensure that S3 buckets are only accessible to the customers that own the buckets and vice versa. This way, our system safeguards clients’ privacy and data security. Because we gave each of our client a separate EC2 instance, we ensure that the server is up to date and all the security patches are in place consistently.
To put it simply, we (1) automate your KYC and AML practices and (2) assist in your ongoing due diligence through technology. A lot of our clients are regulated entities, so we have to ensure that our service fulfils such requirement as specify by MAS technology risk management guideline.
In terms of onboarding process for our users, we integrated AWS recognition service which compares the face between the customer and their ID photos directly, so our users do not have to manually look through the photos and this saves up to 90% of their time. This also provides an additional layer of security in the system. All these mechanisms have allowed Cynopsis Solutions to be MAS compliant as well as cost and time efficient to provide a more comprehensive risk assessment.
As the industry continues to evolve rapidly, Cynopsis works to adapt itself and position itself as a leading industry player, redefining the ecosystem landscape. Do check out our flagship AML/KYC solution – Artemis – which is used by professional services, financial institutions, FinTech startups and Cryptocurrencies to fulfil their compliance regulations globally.
About Cynopsis Solutions Cynopsis Solutions Pte Ltd is a RegTech company founded in 2014 and based in Singapore. We focus on anti-money laundering and counter terrorism financing softwares to automate the manual process and digitise the analogue records and documentation. Our Software-as-a-Service (SaaS) products are deployed in the cloud (Amazon Web Services) using industrial strength encryption, security technology and architecture design to ensure confidentiality and privacy of data stored. The unique proposition of combining our deep regulatory and Compliance expertise with smart use of functional technologies allows us to offer very cost effective anti-money laundering and counter terrorism financing solutions to smaller and medium size financial institutions, professional services companies as well as FinTech start-ups.