RegTech company Muinmos has teamed up with RHT Compliance Solutions to benefit from growing opportunities for its Regulatory Onboarding Engine in Singapore.
RHT Compliance Solutions in Singapore offers financial institutions and capital market intermediaries in Singapore and the region with a selection of compliance and risk advisory services. The deal will see them provide its clients with access to Muinmos’ proprietary Regulatory Onboarding Engine.
The Muinmos platform leverages AI and machine learning to simplify onboarding and improve compliance processes in multiple jurisdictions. The Regulatory Onboarding Engine has three modules, mPASS, mCHECK and mRX, which combine to make a one-stop-shop for regulatory compliance onboarding.
RHT Compliance Solutions CEO Jayaprakash Jagateesan said, “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.”
The Regulatory Onboarding Engine maps thousands of regulatory parameters, legislation, permissions, rules and guidelines from around the world to offer instant compliance.
The mPASS module is designed for automated categorisation, suitability and appropriateness checks to instantly inform financial institutions on clearances to onboard customers. mCHECK covers all relevant AML and KYC requirements and mRX is a risk management tool to help risk profile clients.
Muinmos founder and CEO Remonda Kirketerp-Moller said, “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.”
Copyright © 2021 FinTech Global