Tech-Enabled Managed Services Improving Financial Crime Compliance

CENTRAL, Hong Kong - Aug. 5, 2023 - PRLog -- RegTech startup AML360 has ambitious plans to expand across Asia Pacific, pushing its third-party tech-enabled managed solutions as one of its key services.

As an anti-money laundering (AML) solutions provider, AML360 (aml360.com) is the latest of a string of RegTech businesses expanding in the Asia Pacific region.

And it is clear why as Southeast Asia is experiencing increasing regulatory obligations for combatting money laundering, terrorism financing and other types of financial crimes.

AML360 is tapping into the Asia Pacific market by providing its tech-enabled solutions to financial institutions operating in Hong Kong, Singapore, Malaysia and Vietnam.  The CEO of AML360 has provided a clear message to compliance officers with responsibilities to financial crime regulations. At a recent RegTech forum for AML/CFT compliance officers, CEO Kerry Grass highlighted, "Governments across the globe are increasing their expectations of participants in the financial services industry. The risk-based approach requires client risk profiling which means more than identity verification and screening. It includes understanding the nature and purpose of the client's business relationship.  This information is minimum expectation in order to monitor and manage client risks. If businesses are not operating at these minimum standards, they are by default low hanging fruit for regulatory action."

AML360  empowers business owners and compliance officers to self-manage customer and client onboarding, client risk profiling, transaction monitoring, inhouse compliance reviews and case management.

The RegTech company will also focus on developing affiliations with large advisory businesses that are seeking to expand in the AML compliance advisory space.

Tech-enabled managed services holds immense potential to revolutionise AML/CFT compliance in the Asia Pacific region. By enhancing risk-based decision making, facilitating regulatory obligations and preventing fraud, AML360's tech-enabled services can significantly improve the efficiency and quality of AML/CFT compliance frameworks. To assist businesses to fully realise the benefits of regulatory technology, AML360 is providing a free risk assessment for Proliferation Financing - a new threat that jurisdictions are coming to grips with.

As the Asia Pacific region continues to embrace digital transformation, AML360 aims to be play a pivotal role in shaping the future of the financial crime ecosystem.

Get more info: https://aml360software.com