UAE-based financial technology provider ZagTrader has announced the integration of Muinmos' RegTech solution into its platform. The integration of Muinmos' RegTech solution into ZagTrader's platform represents a milestone in their mission to offer efficient solutions to global clients. This move aims to streamline onboarding capabilities, reflecting ZagTrader's focus on enhancing operational efficiency.

Streamlining Client Onboarding

With the incorporation of Muinmos' RegTech solution, ZagTrader now offers a one-stop-shop solution to its clients, encompassing a diverse array of services including trading systems, back-office operations, advanced analytics, onboarding procedures, and reporting functionalities.

Wasef Shakaa, the Chief Operating Officer at ZagTrader, commented: “Our aim is to provide clients with streamlined, efficient processes with our all-in-one platform. We partnered with Muinmos as wanted to enhance our onboarding capabilities for our clients, moving from manual processes to a fully-automated solution, making it easy for clients to keep up-to-date with the latest regulatory requirements and stay compliant when regulatory requirements change.”

One of the features of this integration is the automation of the entire client onboarding process. Leveraging Muinmos' innovative technology, ZagTrader clients can now enjoy swift and hassle-free onboarding, with the ability to complete the process in under three minutes. This automation extends from AI-powered client categorization to fully automated KYC/AML checks and comprehensive client risk assessments.

Regulatory Adherence: Integration for Continuous Compliance

Furthermore, the platform ensures ongoing compliance by continuously monitoring regulatory changes, as well as updates in clients' details and risk profiles. This approach ensures that ZagTrader's institutional clients remain abreast of evolving regulatory requirements, minimizing compliance risks and enhancing operational efficiency.

Established in 2012, Muinmos has been involved in client onboarding procedures through its Software-as-a-Service (SaaS ) platform. The platform provides clients with flexibility, enabling them to access specific modules or the entire ecosystem according to their needs. Muinmos' fully automated modules include identity verification solutions, screening procedures, eKYC capabilities, corporate data analysis, AI-powered client categorization, comprehensive client risk assessments, and more.

Remonda Kirketerp-Møller, the Founder and CEO, Muinmos, said: “We are delighted to have been selected by ZagTrader to complete their one-stop-shop solution for clients. ZagTrader is rapidly growing firm, with a strong client base in the Middle East and beyond, committed to being at the forefront of fintech innovation and global financial integration. We are excited about being a key partner in their growth journey as they continue to innovate.”