Singapore’s iCOMPASS has introduced a next-generation platform aimed at transforming how financial institutions manage their Know Your Customer (KYC) and Anti-Money Laundering (AML) workflows. The Singapore-based RegTech company designed this solution to help banks, fund managers, insurers, and other regulated entities automate complex compliance processes while improving accuracy and efficiency.
The platform combines automation, artificial intelligence, and global data integration to simplify onboarding, client due diligence, and ongoing risk monitoring. It performs real-time screening for politically exposed persons (PEPs), sanctions, and adverse media while continuously updating client risk profiles. According to iCOMPASS, this technology can reduce compliance costs by over 30 percent and strengthen overall regulatory readiness.
Listed under the Monetary Authority of Singapore’s PathFinder Programme, the iCOMPASS solution aligns with the country’s goal of being a leader in financial technology and regulatory innovation. The MAS programme helps regulated firms identify trusted technology partners that enhance their compliance and operational resilience.
Traditionally, compliance teams have relied on manual reviews, fragmented tools, and inconsistent documentation, leading to inefficiencies and risk gaps. The new iCOMPASS system addresses these issues by consolidating data sources and automating workflows within one secure environment. This centralization ensures faster risk assessments, fewer false positives, and better audit trails for institutions of all sizes.
The platform’s main capabilities include AI-driven screening that significantly reduces false alerts, integrated connections with global databases such as sanctions lists and negative news sources, and complete audit trail tracking for every compliance action. It also provides configurable dashboards and analytics to support decision-making and regulatory reporting.
Raymond Moh, CEO of iCOMPASS, stated that the platform was built through direct collaboration with financial institutions to ensure it solves real compliance pain points. He emphasized that iCOMPASS aimed to balance automation and user experience while maintaining the highest levels of trust and transparency. Early adopters, including MAS-licensed fund managers, have already reported significant improvements in workflow speed and documentation accuracy.
As global AML and CFT regulations tighten, financial institutions are under growing pressure to adopt scalable and automated compliance solutions. iCOMPASS’s new platform enters the market at a crucial time when manual screening processes and legacy systems are no longer sufficient to manage cross-border financial risks.
The company also revealed that its broader compliance ecosystem, known as ULTRA, will debut at the upcoming Singapore FinTech Festival 2025. This system will integrate advanced analytics, automation, and risk intelligence across the entire compliance lifecycle, setting a new benchmark for RegTech innovation in Asia.
The launch marks an important step for Singapore’s financial technology sector and underscores the growing demand for efficient, technology-driven compliance systems. By helping institutions meet global standards while reducing operational strain, iCOMPASS positions itself as a key player in the future of regulatory technology.
