iCOMPASS Unveils Next Generation KYC Platform for Singapore Financial Institutions

Singapore, 31st Oct 2025 – iCOMPASS Pte Ltd, a Singapore-based Regulatory Technology firm, has introduced its next-generation Know Your Customer (KYC) and Anti-Money Laundering (AML) platform for financial institutions. The new solution makes compliance faster, smarter, and more transparent through automation and AI-driven analytics.

iCOMPASS Platform Expansion

This release marks a major milestone in the company’s effort to modernize compliance operations. It comes just before the public debut of its full compliance operating system at the Singapore FinTech Festival in November.

Designed for regulated financial institutions, the iCOMPASS platform simplifies screening, risk assessment, and monitoring with advanced automation. As a result, institutions can cut compliance costs by over 30% and improve both audit readiness and operational efficiency.

Recently, the Monetary Authority of Singapore (MAS) recognized iCOMPASS through its PathFin.ai Programme, a network of trusted RegTech and FinTech innovators. This acknowledgment reinforces the company’s role in strengthening Singapore’s position as a regional hub for regulatory excellence.

Automating KYC and AML

Traditional KYC and AML processes often slow financial firms due to manual reviews, fragmented systems, and inconsistent scoring. These challenges lead to delays and higher costs. However, the iCOMPASS KYC platform eliminates these issues by automating key functions such as onboarding, screening, and continuous monitoring.

Aligned with the latest MAS AML/CFT Notices and Guidelines, the platform benefits fund managers, insurance brokers, payment service companies, and law firms. It connects with top data providers for sanctions, PEP, and adverse media screening. Furthermore, it offers broad multi-jurisdictional coverage to support regional growth.

Innovation and Global Compliance

“Born from direct collaboration with financial institutions in Singapore, iCOMPASS KYC was built to simplify compliance and strengthen risk assessment,” said Raymond Moh, CEO of iCOMPASS. “It provides an exceptional user experience while maintaining the regulatory precision our clients expect.”

Unlike traditional tools, iCOMPASS KYC records every compliance decision with a complete audit trail. This transparency ensures accountability and accuracy throughout the process.

Through AI-powered screening and integrated global data, the platform unifies KYC operations under one secure system. Its intelligent matching engine reduces false positives by up to 90%, helping compliance teams work faster and more confidently.

Today, iCOMPASS KYC supports financial institutions, law firms, and corporate service providers in strengthening AML and CFT controls. It ensures full compliance with sanctions lists from MAS, OFAC, EU, UN, and UK authorities.

“As an early user, our institution has seen a sharp reduction in manual screening and much clearer audit documentation,” said the Chief Operating Officer of a MAS-licensed fund management company in Singapore.

About iCOMPASS

iCOMPASS Pte Ltd is a Singapore-based Regulatory Technology company that transforms compliance into an intelligent, efficient, and secure process for financial institutions.

At the core of its mission is ULTRA, the world’s first Compliance Operating System, which will be unveiled at the Singapore FinTech Festival 2025 this November.

For more information, visit www.icompass.ai.

Company Details

Organization: iCOMPASS Pte Ltd

Contact Person: Shi Jiayin

Website: https://www.icompass.ai

Email: jiayin.shi@icompass.ai

Country: Singapore

Release Id: 31102536359