How a Singapore fintech passed its regulatory review after overhauling its compliance stack

Profile

• Industry: Financial technology (fintech)
• Location: Singapore
• Regulatory status: MAS-licensed payment service provider
• Key challenge: Manual screening process that failed to satisfy regulatory review
• Solution: Prudexis Compliance Intelligence Platform with API integration

Background

This Singapore-based fintech operates as a licensed payment service provider under the MAS Payment Services Act. As the business scaled, compliance obligations increased, requiring systematic screening of customers and counterparties against sanctions lists, PEP databases, and adverse media sources.

Initially, the team relied on spreadsheets and ad hoc checks. At higher onboarding and transaction volumes, this manual approach created operational risk and could not scale.

The challenge

• Slow and manual screening: Analysts exported customer data, queried multiple sources by hand, and logged results into shared sheets. Onboarding slowed and human error risk increased.
• No onboarding integration: There was no direct connection between screening and onboarding, forcing manual hand-offs between systems.
• Failed regulatory review: During a scheduled MAS review, gaps were identified in documentation and process consistency. The firm had to remediate within a defined timeframe.

The solution

The firm selected Prudexis to replace manual workflows with API-integrated screening, structured case management, and a clear audit trail.

• Automated sanctions and PEP screening triggered directly via API at customer onboarding
• AI-powered adverse media monitoring across global news and regulatory sources
• Risk scoring and alert routing to escalate genuine hits and resolve low-confidence matches efficiently
• Case management with decision records, supporting evidence, and full activity history per entity
• Audit-ready reporting for regulatory review and internal governance

With API-first integration, screening became automatic inside the onboarding flow, removing the manual hand-off that had created delays and errors.

The results

• Passed: Follow-up MAS regulatory review cleared
• API-first: Screening embedded directly into the onboarding flow
• Less manual work: Repetitive data entry removed from daily workflow

The compliance team reported less time spent on manual screening and faster access to screening outcomes. Analysts could focus on flagged cases instead of running checks manually.

Structured case management and audit trails provided the evidence MAS reviewers needed: who reviewed each case, what decision was made, and why.

Customer quote

"Prudexis gave us the audit trail we did not know we were missing. When MAS came back, we could show exactly how every customer had been screened, reviewed, and cleared."

Head of Compliance, MAS-licensed fintech, Singapore

Why it worked

• API integration removed manual hand-offs between onboarding and screening
• Structured case management created the documentation regulators expected
• Fast deployment supported remediation within the MAS-mandated timeframe