Muinmos, a company that specializes in automated regulatory compliance, announced on Wednesday its partnership with RHT Compliance Solutions for the expansion of its proprietary regulatory compliance engine in Singapore.
Per the agreement between the two, RHT, which offers compliance and risk advisory services to financial firms, will offer Muinmos’ solution to its institutional client base in Singapore and the adjacent regions.
“Muinmos’ products complement our existing services,” said Jayaprakash Jagateesan, CEO at RHT Compliance Solutions. “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.”
Expanding in Asia
The partnership deal was inked after Muinmos revealed last year that it is aiming to expand its business in Asia after seeing an uptick in clients from China, Hong Kong and Taiwan. Apart from Asia, the regtech company is targeting the US market.
Headquartered in Denmark and with offices in the UK and Singapore, Muinmos offers a complete regulatory compliance engine, which is again divided into three separate product modules – mPASS™, mCHECK™ and mRX™.
“We are delighted to be working with RHT Compliance Solutions,” Muinmos Founder and CEO, Remonda Kirketerp-Moller, added. “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 digitize their compliance processes and be safe in the knowledge that they are adhering to regulatory requirements throughout the lifecycle of their clients.”
