Luxembourg based Fintech Tokeny Solutions has partnered with Cynopsis to provide a streamlined compliance solution to its customers.
Cynopsis Solutions was established in Singapore in 2014 and offers services designed to automate KYC processes. It has operations in Singapore, UK, Taiwan, and Vietnam. Cynopsis Solutions is compliant in 180 jurisdictions and is already being utilized by more than 1,600 clients in the Banking, Financial Services, Professional Services, and Gaming.
According to a blog post, the partnership “ensures smooth investor onboarding and ongoing KYC & AML checks are processed using Tokeny Solutions’ services and Cynopsis’ Triple A products – Ares, Artemis, and Athena.”
Tokeny is a leader in digital assets and tokenization tech having participated in 35+ digital asset offerings including equity, debt, real estate and more. Euronext is an investor backing the firm. Tokeny has issued multiple tokenized offerings across five continents with further security offerings imminent according to the company.
Cynopsis’ products cover the entire KYC & AML process preventing unwanted entities or individuals from participating in any offering. Recently, new FATF requirements have upped the degree of diligence demanded for the issuance and trading of digital assets.
Luc Falempin, CEO of Tokeny, said that issuers looking to leverage digital asset technology correct partners must be in place to ensure compliance with the many rules and regulations overseeing the financial services industry:
“By integrating Cynopsis’ KYC & AML solutions with ours, we deliver benefits such as automation and digitisation whilst incorporating a complaint-by-design approach,” Falempin stated.
Avere Hill, co-founder and CEO EMEA, Cynopsis Solutions, said they were excited to be partnering with Tokeny and they will mutually benefit from the arrangement as companies shift to managing assets on the blockchain while “enforcing ever-increasing compliance obligations.”