ClauseMatch lands first Singapore client
UK-based regtech,has partnered with Singapore-based consultancy, Ingenia, to provide compliance-as-a-service for local small and medium-sized financial institutions, reports Jane Connolly.
Ingenia designs, advises on and maintains compliance frameworks for institutions that outsource compliance functions and in specific compliance support assignments.
Adopting ClauseMatch’s compliance platform will enable Ingenia to offer real-time collaboration with their clients to conceive and update their policies and procedures, as well as sharing their frameworks.
“First and foremost, this partnership gives smaller financial institutions in Singapore and Asia much-needed access to the advanced tools and capabilities for regulatory compliance,” says Rolf Haudenschild, co-founder and head of regulatory and risk services at Ingenia.
“We are excited to be partnering with ClauseMatch, as their solution provides a simple yet powerful approach to tackling an issue central to regulated financial institutions – how to reduce the time, cost and complexity of dealing with regulations and core business documents.”
ClauseMatch’s head of sales for the South-East Asia region, Arathi Arul, says the partnership with Ingenia is a significant step for both companies.
She adds: “Ingenia’s impressive network and close experience with local companies will play a crucial role in providing the market with innovative solutions.”
Having expanded into South-East Asia out of Singapore in May, ClauseMatch is working with several global financial institutions with presence in Singapore, but this is the company’s first contract with a local entity.
ClauseMatch was selected as one of 10 finalists for the IMAS digital accelerator programme in May and is now working on a solution for the investment management industry.
Earlier this month Singapore and the UK signed agreements to boost collaboration in financial services.