Melissa, an identity and data verification provider, has launched an office in Singapore to support expansion in APAC region.
The RegTech company now has offices in six countries, with a headquarters in the US, and other regional teams in the UK, Germany, Canada and India. Through the new Singapore office, the Melissa is hoping to collaborate with its local client base and increase adoption in the area.
In conjunction with the new office, regional sales director Edmund Ng will head the operations. Ng joined Meilissa from identity data business GBG, where he served four years as a sales director in Singapore.
Melissa offers ID verification services which are supported by global datasets of billions of records to check and verify data in real-time for accuracy and fraud prevention purposes. Financial institutions can leverage the tools to meet AML and KYC requirements while easing customer experiences.
Tools offered include address, identity, phone, email verification, geocoding, data matching, and data enrichment. The real-time verification service can be tailored to specific sign-up processes and risk management requirements.
Melissa regional sales director APAC Edmund Ng said, “I’m looking forward to supporting Melissa’s blue-chip client base, as well as help the company grow in the APAC region.
“There’s huge investment and growth in the FinTech industry in Asia and plenty of opportunity for savvy financial services businesses, with more than half of the population across the region not having bank accounts. With our services we can verify data in real time for fraud prevention, helping to speed up onboarding and deliver a standout customer experience, as well as enrich it to deliver a single customer view.”
Singapore has taken a significant amount of action in order to support FinTech growth. Late last year, the Monetary Authority of Singapore proposed a new regulatory sandbox with fast-track approvals. Its goal is to reduce the time companies need to launch their services in the region.
In addition to this, the authority recently deployed an SGD $30m ($21.9m) grant to support the development of local cybersecurity capabilities.
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