Muinmos Partners With RHT Compliance Solutions In Singapore To Capitalise On Increasing Demand For Its Regulatory Onboarding Engine

FinanceFeeds Editorial Team

Award-winning RegTech firm, Muinmos has partnered with RHT Compliance Solutions to capitalise on growth opportunities for its proprietary Regulatory Onboarding Engine in Singapore.

regulator

RHT Compliance Solutions in Singapore provides Compliance and Risk Advisory to Financial Institutions and Capital Market Intermediaries in Singapore and the region. They will offer Muinmos’ proprietary Regulatory Onboarding Engine to their rapidly growing client base which includes banks, investment banks, brokers and fund managers.

Muinmos’ innovative technology uses AI and machine learning to simplify onboarding and enhance the compliance process across multiple jurisdictions. Its Regulatory Onboarding Engine comprises three distinct and secure modules, mPASS™, mCHECK™ and mRX™, to provide flexibility to Financial Institutions. When combined, these modules provide a complete one-stop-shop regulatory compliance onboarding solution.

mPASS™, specially developed for automated categorisation, suitability and appropriateness checks, provides instant clearances on whether Financial Institutions can onboard or keep a client in any country / for any financial service and financial instrument. Clients can be fully cleared and ready to be onboarded in under three minutes.

mCHECK™ covers all relevant AML/KYC requirements, and mRX™ is a risk management tool enabling Financial Institutions to risk profile their clients based on their pre-configured risk parameters.

As regulatory parameters change, Financial Institutions are instantly alerted of any regulatory change or even potential new sales opportunities. This ensures ongoing 24×7 compliance across the globe whilst mitigating the risk of fines and mis-selling.

Jayaprakash Jagateesan, CEO, RHT Compliance Solutions comments, “The timing of this partnership is ideal. The Government in Singapore is encouraging firms to embrace technology and go digital. Financial Institutions are looking to automate processes wherever possible and Muinmos’ RegTech products are ideally placed to help the compliance function to become more streamlined and efficient. We are excited to bring this technology to our clients.”

“Muinmos’ products complement our existing services. We are certain, for example, that the regulators will be impressed by our clients who are applying for licences if they can see that these firms will be using such a powerful onboarding tool to enable them to meet their regulatory requirements. Through our partnership with Muinmos, RHT can offer a one-stop-shop for regulatory compliance including advisory services, customised training, preparation for regulatory inspections and advanced technology solutions.”

Remonda Kirketerp-Moller, Founder and CEO, Muinmos adds, “We are delighted to be working with RHT Compliance Solutions. With our regulatory onboarding product and RHT’s deep local expertise and network, I believe we have a powerful combination and the ability to put RegTech firmly on the map in Singapore. Together, we can help Financial Institutions in Singapore and beyond to digitise their compliance processes and be safe in the knowledge that they are adhering to regulatory requirements throughout the lifecycle of their clients.”

Muinmos’ proprietary Regulatory Onboarding Engine maps thousands of regulatory parameters, legislation, permissions, rules and guidelines from around the world and delivers instant compliance results globally. For further information, visit www.muinmos.com

RHT Compliance Solutions is the first and only integrated organisation providing Compliance and Risk Advisory to Financial Institutions and Capital Market Intermediaries in Singapore and the region. RHT Compliance Solutions is a subsidiary of RHT Fintech Holdings, a leading Professional Services Group in Asia. For further information, please visit, www.rhtgoc.com

Read this next

Institutional FX

CLS FX volume continues downward trend in August

Total daily traded volume submitted to CLS for settlement took yet another step back in August.

Digital Assets

Huobi taps AstroPay to facilitate fiat-to-crypto payment in Latin America

Huobi, the world’s sixth-largest crypto exchange by trading volume, has recently partnered with payment solution provider AstroPay to launch local currency account deposits and withdrawals in Latin America.

Digital Assets

Crypto exchange FTX to raise $1 billion at flat valuation of $32 billion

FTX is reportedly in discussions with a clutch of heavyweights from traditional finance to raise up to $1 billion in fresh funding to fuel more deal-making.

Digital Assets

Revolut US launches trading on Avalanche, Solana, and Dogecoin

British fintech and banking firm Revolut has further expanded its cryptocurrency offering in the US with the addition of 29 new tokens.

Digital Assets

Bahrain greenlights eazyPay to launch Binance Pay

The Central Bank of Bahrain has blessed a new partnership inked by Binance with Eazy Financial Services ‘eazyPay’, a local POS and online payment service provider. The greenlight enables EazyPayto to launch Bitcoin and cryptocurrency payments in the region.

Digital Assets

Coinbase approved to offer crypto for Dutch users

Nasdaq-listed crypto exchange operator Coinbase has been handed regulatory approval to operate as a crypto service provider in the Netherlands.

Metaverse Gaming NFT

AC Milan partners with Solana-based NFT football game MonkeyLeague

“Partnering with champions like AC Milan, an absolute iconic Club throughout footballs history, is another testament to what we are building and where we are headed as a game and game studio. It also represents a key step in our plans to bridge the Web2 and Web3 worlds.”

Digital Assets

Shariah-compliant Islamic Coin to support SDG-compliant ventures, green projects, and philanthropy

Shariah-compliant Islamic Coin has recently launched a collaboration with the World Green Growth Organization and the International Youth Conference 6, taking place on September 22-25th and September 30th-October 1st, 2022, in New York. 

Market News

Week ahead: US core PCE and eurozone CPI 

We heard from a range of central banks last week and the update sparked big moves in the markets, and the bulk of the volatility was in currencies.

<