Regtank

Best Compliance Solutions – Singapore 2022

Established in 2020 and headquartered in Singapore, Regtank offers a one-stop solution for organisations navigating compliance, security, and risk management challenges in the most effective manner. Regtank’s patent-pending compliance Software-as-a-Service (SaaS) solution was awarded the Singapore FinTech Certification by the Singapore FinTech Association (SFA). Regtank’s SaaS platform consists of four key features — Know Your Customer (KYC), Know Your Transactions (KYT), Intelligent Risk Engine, and a 360-degree Risk Profile. The automated KYC helps manage KYC obligations such as AML screening, risk assessment, record keeping and ongoing due diligence in a single, intuitive platform. Regtank provides transaction monitoring, digital onboarding, blockchain analytics, and identification of the origin of funds.

In 2021, Regtank was awarded 2nd Place by MAS in the ASEAN Fintech Award category and the Best Cryptocurrency Regulatory Technology Company in Asia by Wealth & Finance. The Regtank team consists of seasoned professionals from various financial institutions and technology firms who are familiar with the highest standard of compliance in one of the most competitive financial centres in the world. Bloomberg had mentioned Regtank as the ‘Top Asian Crypto Regulatory Tech Company’ and Nasdaq named Regtank as the ‘Best Cryptocurrency Regulatory Technology Company in Asia’.

Regtank aims to empower Fintech companies, especially the cryptocurrency industry, to effectively manage their entire compliance program on a single platform with higher efficiency and lower costs.

Regtank is a risk-based approach (RBA) full suite solution covering the entire process of AML compliance. The Regtank team is working on creating a proprietary algorithm of blockchain analysis with AI/Machine Learning technologies. At length, Regtank aims to provide firms with ecosystem-wide mechanisms as a self-sustaining decentralized compliance protocol to transform the compliance landscape in the cryptocurrency industry.

With Regtank’s main offering of a one-stop compliance system, we target to help industries reduce cost and manage risk with flexible engagement. Our competitors consist mainly of RegTech solutions offering only KYC and/or KYT solutions specifically. Regtank differentiates itself with its unique risk scoring engine that is fully customisable to fit each individual client’s compliance requirements.

Our main clientele includes Financial Institutions, along with crowdfunding and Venture Capital companies, where we help them save time with the most up-to-date databases and automated anti-money laundering screening processes. Regtank also looks at Virtual Assets Service Providers (VASPs), where we aim to safeguard them against new market threats, compliance challenges, and regulatory hurdles. We also use our feature of detecting and preventing criminal activities to serve Digital Remittance Services, Payment Gateways, and other Professional Services, including Law or Corporate Secretary Platforms.

Most RegTech providers only focus on a small slice of the compliance process, thus, firms require additional effort to create a coherent technology stack. This makes it harder to respond agilely to the fast-changing regulations without compromising the tech stack. Regtank bridges this gap by aiding companies to efficiently manage and meet regulatory compliance obligations. This results in cost-effective navigation of compliance for various industries and convenience for Fintech companies and Virtual Asset Service Providers (VASPs) in the crypto industry.