London, 10 June 2020, Wednesday – Muinmos’ proprietary regulatory compliance engine has been voted Best RegTech Reporting Solution in the Global Forex Awards 2020.
The Global Forex Awards 2020 – B2B are a celebration of businesses from around the world pushing the boundaries of innovation in B2B forex trading solutions. They champion the best performing providers of the B2B forex trading eco-system.
Voting was open to brokers, technology providers and industry experts across the globe, with a total of 3,200 people casting their votes.
Archie Humphries, Director at Holiston Media and organiser of the awards, said: “Muinmos was a standout nominee in the Best RegTech Reporting Solution award category. It comes as little surprise that they have been recognised by the industry and their peers in this important area for financial institutions worldwide. This accolade goes to show how they continue to meet and exceed their clients’ expectations in this key area of the B2B forex trading eco-system.”
Built by Industry Experts, Powered by Artificial Intelligence (AI)
Muinmos’ cloud-based technology uses a proprietary algorithmic rule-based Artificial Intelligence (AI) system to instantly and globally validate whether a financial institution can onboard a client to trade with it in a particular service, financial product and country whilst fulfilling exacting AML regulatory standards.
Critical regulatory compliance checks required both during and after client onboarding enables financial institutions to streamline and systemise their approach to global compliance while delivering a compliant, faster and more efficient client onboarding experience.
Remonda Z. Kirketerp-Møller, Founder and CEO, Muinmos added, “Being voted by our industry peers as the global leading RegTech reporting solution is a significant achievement and I would like to thank everyone who voted for us.
“We take great pride in having created a proprietary RegTech reporting solution that has been developed over eight years. Muinmos is fast becoming an indispensable tool for financial institutions worldwide as they recognise the importance of cross-border regulatory clearances, client categorisations as well as suitability and appropriateness of financial products that is in addition to their KYC and AML checks which our engine also delivers.”
More than 98% of Muinmos clients have reported that its compliance engine is amongst the fastest they have ever used in the industry with an average of 66 clicks and less than 3.2 minutes in total for full regulatory and compliance assessment results globally.
Muinmos is fully GDPR compliant. It can be accessed as a stand-alone system but is also easily integrated with existing on/offline on-boarding processes and/or systems.