Another successful event drew to an end, as we concluded our participation at the “Payment Services Act” Regulatory Meetup hosted by Ethikom Consultancy, which was held earlier at 80RR Singapore.
The event was a great opportunity to explore the potential impact of the impending implementation of the Payment Services Act on payments businesses, together with the Digital Exchange Association, Data Zoo, Bluecurve and COSS Exchange teams.
Our AVP and Product & Compliance Manager, Lin Wei Xiong, participated in this round of meetup session as one of the panelists to discuss the aforementioned new Act, issued under the supervision of MAS. We further explored in detail the impacts of the new legislation, licensing applications and exemptions, as well as ways to prepare organisations for the new regime and potential benefits from the transitional arrangements.
We would like to thank the organisers, as well as all the event partners for promoting regulatory discussions in Singapore and we look forward to participating in similar events in the near future.
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.