Sinpex provides cloud-based data collection and management software that automates KYC and AML processes for banks and financial institutions using Natural Language Processing (NLP) technology. This solution reduces manual data collection time, minimizes human error, and ensures compliance with regulatory requirements through real-time data verification and audit-proof documentation.
Funding
$4.4M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
TVFounders
Product
Problem
Financial institutions face increasing regulatory pressure to comply with KYC and AML requirements, leading to a growing workload for compliance departments. Manual data collection is time-consuming and prone to human error, while data from external providers is often outdated, incomplete, and lacks traceability.
Solution
Sinpex provides an AI-driven SaaS solution that automates KYC and KYB processes for financial institutions, streamlining compliance workflows and reducing operational costs. The platform extracts data directly from primary sources, such as corporate registries and shareholder lists, using NLP and text analytics. This ensures data accuracy, audit-proof documentation, and real-time verification, enabling faster onboarding and continuous compliance. Sinpex replaces manual analysis and the 4-eye-principle, allowing compliance teams to focus on critical cases and adapt quickly to regulatory changes.
Target Audience
Sinpex targets banks, payment service providers, leasing and factoring companies that require efficient and accurate KYC/KYB solutions for B2B customer onboarding.
Features
- AI-powered data extraction from primary sources, including corporate registries and shareholder lists
- Automated KYC/KYB processes for compliance with AML regulations
- Real-time data verification and cross-validation to ensure high data quality
- Audit-proof documentation with full traceability of data sources
- Customizable questionnaire templates for adapting to regulatory changes
- Continuous monitoring of AML and official data sources for identifying changes
- API for seamless integration with existing systems