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'Outstanding Regulatory Technology Solution' at the ET FinTech Award

Updated: Jan 19, 2023

At today’s Award Presentation Ceremony for the winners of the annual ET FinTech Awards in RegTech Solution, we were elated to be awarded “Outstanding Regulatory Technology Solution”. This year’s competition was incredibly stiff with many solution providers aiming to support Hong Kong's regulatory industry. We are proud to celebrate our win of RegTech solution by creating effective and efficient approaches to ever more intricate regulatory requirements and the FinTech voting community has identified our solution as the prizewinner of RegTech.

Regulatory requirements for designated non-financial businesses and professions (DNFBP), Money Service Operators (MSO) and Virtual Asset Service Providers (VASP) in Hong Kong continue to be a key challenge as firms navigate new regulations, the massive data volumes involved, and the need to stay away from expose themselves from the risk of money laundering, penalty against law, blacklisted by governments and partners. With a technologically advanced end-to-end solution, our goal is to provide a seamless, low cost and hassle-free solution via a single intuitive dashboard.

In particular, we have found that companies valued our JustAML - Customer Due Diligence (CDD) solution has immensely benefited companies that need fast, complete and accurate transaction reporting data. The dashboard feature helps them review submissions entity-wise with alert levels for easier identification as well as provide enhanced monitoring and screening support automatically. We also continue to enhance our data analytics provision by integrating the most advanced technology including AI/ML, big data processing and analysis, NLP and Relations Graph technologies. We are also the first mover to perform transaction monitoring for the non-bank industries by building AI pattern matching mechanisms.

In 2023, we continue to focus on upcoming changes to both AMLO and FATF, both of which will have a significant impact on how clients in Hong Kong handle their risk and we look forward to continued discussions with clients on how best to meet their needs. We are deeply humbled to be given the opportunity of contributing to society by improving social acceptance and meeting regulatory compliance mandates. Through our efforts, we hope to create a healthier and more secure world for everyone.



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