SINGAPORE, Oct. 13, 2022 /PRNewswire/ -- Regtank Technology was awarded the Winner for the FinTech category and overall 2nd Runner-Up in Huawei Spark Ignite 2022 Global Startup Competition presented by Huawei, a leading global provider of information and communications technology (ICT) infrastructure and smart devices.

Several criteria are used to judge the Huawei Spark Ignite Global Startup Competition, including relevance, service model, technology USP scalability and limitations, and others. By utilising their global platform and accelerator program, the FinTech category Huawei Spark Ignite 2022 Global Startup Competition seeks to accelerate startup companies with disruptive business models and innovative use of technology in the financial and insurance sector to the next level.

"This is a very exciting win, and the team is delighted to be recognized as the Top 3 Startup and FinTech Award Winner amongst the 1,500 applicants for the Huawei Spark Ignite 2022 Global Startup Competition. This is a testament to our commitment to our clients and we are grateful for the recognition. The team will continue to improve on our solution to live up to our vision of making compliance easy for our customers." — Megan Lee, Founder & CEO, Regtank Technology Pte Ltd

Highly regarded and valued by our clients, Regtank Compliance Solution has benefited organisations by saving at least 30% on cost and increasing efficiency by saving time. We help clients reduce human error and mitigate risks through automation and standardised system process.

Regtank Compliance Solution covers the entire AML process for fiat currency transactions and cryptocurrency transactions; ensuring that compliance regulations are met consistently and fraud is eliminated in the digital environment. Our blockchain analysis and adaptive transaction monitoring tool help detect AML risk relationships more accurately in on-ramp and off-ramp transactions running in real-time and applied to the entire network of most of the prominent chains.

Regtank aims to empower FinTech companies, especially the cryptocurrency industry, to effectively manage their entire compliance program on a single platform with higher efficiency and lower costs.

About Regtank

Regtank is the leading provider of a one-stop software-as-a-service compliance solution, revolutionising the compliance landscape. Adopting a risk-based approach (RBA) incorporating KYC, KYB, and KYT into a single consolidated platform, Regtank has innovated a comprehensive and advanced AML/CFT smart risk assessment engine that can automatically classify the risk of individuals tailored to the risk matrix of the clients. Regtank today provides risk assessment and management, screening, record keeping, ongoing due diligence, transaction monitoring, and blockchain analytics. For more information, you can visit us at https://regtank.com/.