Cynopsis Solutions’ CEO and Co-founder, Chionh Chye Kit, was recently invited by The Taiwan FinTechSpace, to attend the FinTechSpace International Startup Sharing session on 15 April. The Taiwan FinTechSpace was launched just last year, as part of Taiwan’s effort in strengthening the FinTech ecosystem within the country. The sharing session provided a platform for Chye Kit to share with the audience greater insights into Regulatory Technology (RegTech) and its applications in helping companies globally to overcome their regulatory burden in the ever-changing compliance and regulatory landscape.
The convergence of finance and technology over the years has greatly changed the global financial market. As the Financial Action Task Force (FATF) continues to regularly update its global regulatory standard on Anti-Money Laundering (AML) and Know-Your-Customer (KYC) processes, governments worldwide increasingly recognizes the importance of RegTech and its role in helping firms comply effectively to the regulatory requirements.
In an effort to be in line with the FATF standard, Taiwan government implemented the new AML legislation. The commitment to combat money laundering also represents a significant opportunity for RegTech. Professionals in the country have also recognised the importance of RegTech and the efficiency it brings to the regulated sectors in Taiwan, especially the country’s booming FinTech industry.
Speaking at the event, Chye Kit shared how Cynopsis combined Artificial Intelligence (AI) and Machine Learning (ML) with our deep regulatory expertise to resolve our clients’ compliance pain points, helping them to effectively manage their compliance workflow. Chye Kit was also joined by Sachin, Director of Partnerships from Dow Jones (Singapore) and Tom Lin from Hyxen Technology in the fireside chat session. They took this opportunity to share with the audience some of their insights and expertise in the RegTech 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 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. Website: www.cynopsis.co Twitter: https://twitter.com/cynopsiss LinkedIn: https://sg.linkedin.com/company/cynopsis-solutions LinkedIn UK: https://www.linkedin.com/company/cynopsis-solutions-uk