Cynopsis Solutions, a leading provider of automated Know Your Customer (KYC) solutions, has been named as one of the RegTech 100 – a globally recognised, annual list of the world’s 100 most innovative regulatory technology firms.
The list is compiled by Global FinTech and RegTech Analyst, which provide clients with comprehensive data, insights and analytical tools in the global FinTech industry. According to Global FinTech, this year’s RegTech 100 process was even more competitive than last year. A panel of analysts and industry experts voted from a long list of 824 companies, compared to a list of 416 in 2017.
The firms included in this exclusive RegTech directory are those judged by the advisory panel to be particularly noteworthy to financial institutions as they consider and develop their RegTech and digital transformation strategies. The list aims to help senior management in compliance, technology and innovation divisions identify companies who are most likely to have a lasting impact on the industry.
In order to make the RegTech 100 list, firms are evaluated according to a range of criteria such as their impact on the problem being solved and the innovation of technology solution offered. In addition, RegTech 100 firms are accessed on the potential cost savings, efficiency improvements, impact on the value chain and/or revenue enhancements they can generate for clients.
Chionh Chye Kit, Co-founder and CEO of Cynopsis Solutions said: “We are thrilled to be included in this prestigious list for the second year running. From speaking to financial services firms from as far afield as Asia, Europe, Africa, Middle East and North America, we know that many face similar challenges when it comes to addressing their KYC responsibilities. Inclusion in the RegTech 100 is important recognition of the role that Cynopsis Solutions’ software can play in helping to streamline and automate their KYC processes, helping to reduce regulatory risk, improve cost and labour efficiencies and enhance the overall experience of their clients.”
This news comes hot on the heels of Cynopsis Solutions being named as one of the top three winners at the recent Singapore FinTech Awards, organised by Singapore’s central bank and financial regulator, the Monetary Authority of Singapore. The firm has also recently been recognised as one of the Companies To Watch by the UK’s Investment Association’s VeloCity program, a fintech accelerator initiative run by the leading trade association for the UK’s investment management industry.
About Cynopsis Solutions
Cynopsis Solutions was established in Singapore in 2014 and offers regulatory technology (RegTech) solutions designed to automate KYC processes. It has operations in Singapore, UK, Taiwan and Vietnam. Cynopsis Solutions is one of the top 3 MAS FinTech Award 2018 winner, 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.