HYDERABAD, India, Dec. 18, 2020 /PRNewswire/ — ValueLabs, a global technology services provider, won the IBSI Global Fintech Innovation Award for the Best Original & Adoptable Concept in Compliance & RegTech. It was for the Enterprise Customer Due Diligence solution which they built for Diligent, a Singapore-based global RegTech company.
The IBSI Global FinTech Innovation Awards honors technology players and banks for their excellence in driving impact through banking technology implementations and innovations using emerging technologies. This year, IBSI winners were chosen on the basis of innovation excellence, best practices & tools adopted, originality & simplicity, adaptability of the concept and program complexity & governance.
The Enterprise Customer Diligence solution is a SaaS based application which enables banks and RegTech companies to onboard and maintain ongoing relationships with customers while complying with regulatory and policy requirements. The solution provides a 100% configurable rules engine that performs due diligence for clients across multiple topographies and jurisdictions.
“We are delighted to be recognized by IBSI for driving innovation in the BFS space and we are confident that this solution will help the industry to reimagine the ways in which customer onboarding and due diligence happen. Also wanted to congratulate our partners at Diligent on this award and thank them for allowing us to be a part of their journey,” said Arjun Rao, CEO of ValueLabs.
“In this digital era of banking, it is essential for banks and FIs to take necessary measures to comply with ever changing industry regulations and compliance requirements. This solution automates every process of KYC and CDD and enables digital compliance vision for our clients,” said Anoop Singh, SVP & Head of Emerging Markets, Valuelabs, who accepted the award. “We are also planning to significantly expand our global presence in BFS in 2021 and this recognition inspires us to deliver more innovative solutions for the BFS & RegTech industry.”
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