Singapore iCOMPASS Launches Platform to Streamline KYC and AML Workflows for Financial Institutions

Singapore, 29th Oct 2025 – iCOMPASS Pte Ltd, a Singapore-based Regulatory Technology firm, today announced the launch of its next-generation Know Your Customer (KYC) and Anti-Money Laundering (AML) platform for financial institutions.

iCOMPASS Modernizes Compliance Operations

This release marks a key milestone in the company’s mission to modernize compliance operations, ahead of the flagship showcase of its broader compliance operating system at the Singapore FinTech Festival next month.

Purpose-built for regulated financial institutions, the iCOMPASS platform uses advanced automation to streamline screening, risk assessment, and ongoing monitoring. This seamless process is expected to reduce KYC and AML compliance costs by over 30% and enhance audit readiness.

Recently, the iCOMPASS platform gained recognition in the Monetary Authority of Singapore (MAS) PathFin.ai Programme, a curated library of trusted RegTech and FinTech solutions that demonstrate innovation in compliance. This acknowledgment highlights the company’s commitment to supporting Singapore’s vision as a regional hub for regulatory excellence.

Automating KYC and AML Workflows

KYC and AML workflows have traditionally created bottlenecks for regulated firms due to manual reviews, fragmented systems, and inconsistent risk scoring. These challenges often lead to audit gaps and operational delays.

iCOMPASS KYC solves these problems by automating core due diligence tasks, including customer onboarding, screening, risk rating, and continuous monitoring. Additionally, it aligns with the latest MAS AML/CFT Notices and Guidelines. The platform benefits licensed fund managers, insurance brokers, payment service companies, and law firms in Singapore. It also provides out-of-the-box connectivity with trusted data providers for sanctions, PEP, and adverse media screening, supporting multi-jurisdictional coverage as firms expand across the region.

Enhanced Efficiency and Audit Transparency

“Born from our direct collaboration with financial institutions in Singapore, iCOMPASS KYC streamlines KYC and risk assessment. It delivers a superior user experience without compromising trust or regulatory alignment,” said Raymond Moh, CEO of iCOMPASS.

Unlike generic screening tools, every compliance decision in iCOMPASS is logged with a clear audit trail. This transparency and traceability are rare in conventional KYC software. Powered by AI-driven screening and global data coverage, iCOMPASS KYC unifies the full KYC journey within a single, secure interface. Its intelligent matching engine reduces false positives by up to 90%, enabling compliance teams to work more efficiently and confidently.

The solution helps financial institutions, corporate service providers, and law firms strengthen AML/CFT controls. It ensures compliance with global sanctions regimes, including MAS, OFAC, EU, UN, and UK lists. “As a pioneer user, our institution saw a dramatic reduction in manual screening and greater clarity in audit trail documentation,” said the Chief Operating Officer of a MAS-licensed fund management company in Singapore.

About iCOMPASS

iCOMPASS Pte Ltd is a Singapore-headquartered regulatory technology firm 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 debut 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: 30102536355