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Posted on March 25, 2019 by staff

ClauseMatch opens Singapore HQ

ClauseMatch opens Singapore HQ

Signapore
Signapore

A London-based regulatory tech venture working with banks and financial institutions is expanding into Asia Pacific with the launch of operations in Singapore.

Founded by CEO Evgeny Likhoded, ClauseMatch is based on his experience working in legal and compliance roles at Morgan Stanley and Gazprom UK.

Counting several financial institutions in London and Europe as clients, it recently announced a partnership with the digital bank Revolut.

“Establishing a presence in Singapore is an important milestone for ClauseMatch,” said Likhoded.

“Integration of local entities into the group is often not done perfectly, so what we offer to banks in Asia is actually a way to manage their internal compliance in a central way and see where they have discrepancies with local processes in different countries in Asia.”

The decision to site its APAC HQ in Singapore and build out its footprint in Asian markets from the city-state is rooted in its status as a regional commercial centre

Moreover, with APAC’s regulatory environment highly fragmented, Singapore maintains a highly regulated market that possesses a great degree of affinity with the UK’s own regulations.

Arathi Arul, VP for Business Development at ClauseMatch, will lead the rollout of the company’s service offerings in Asia Pacific from Singapore.

“Singapore is one of the most challenging countries in Asia in terms of regulations: it is a very well-developed market but with that comes a high level and often complex array of regulations that FI’s have to adhere to,” said Arathi.

“Singapore understands that and with the push from the MAS, companies realise the importance of innovation in order to help overcome these challenges.

“So, we see them taking the lead in Asia in terms of adoption of RegTech.

“This means it is the right time for ClauseMatch to enter this market in order to help companies streamline compliance processes. 2019 is set to be the year of RegTech in the region and we are extremely excited to be on this journey.”

As part of its international expansion, ClauseMatch has partnered with RegPac Revolution, a RegTech ecosystem platform in Singapore, to leverage its professional connectivity in APAC markets.

Mona Zoet, Founder and CEO of RegPac, added: “We are excited to welcome London-based ClauseMatch into our professional network.

“We know the need in the market for innovative regulatory technology exists.

“RegPac is dedicated to connecting the dots between cutting-edge financial technology companies and the market in the region and we are inspired to see transformations ClauseMatch can bring for financial institutions in Asia.”