KYC/CDD: Moody’s helps fintechs meet compliance at speed 

Our guest is Choon Hong Chua; Senior Director – Head of Financial Crime Practice, APAC & Middle East, Moody’s Analytics, where we discuss know-your-customer (KYC), covering how fintechs are performing customer due diligence (CDD), i.e. verifying the identity of a customer, whether an individual or business.

Choon is the APAC and Middle East Head of subject matter expert team for Compliance Solutions in Moody’s Analytics. He is responsible for driving compliance related initiatives across Asia Pacific and Middle East. Choon is active in the compliance community in the public sectors, banking and corporate space and understands the emerging trends in combating financial crimes through these interactions. 

Choon leads a team of 8 specialists and practice leads providing consultancies and solutions in helping fortune 500 clients in understanding the risk-based approach to Anti-Money Laundering, and assist in data mapping workshops to operationalize the use of MA information through the AML processes. His experience helps client in building a holistic compliance risk framework and solutions to navigate through complex regulatory environments.

Choon comes with over 15 years of experience in the enterprise software solution space and he has spent the last few years advising major financial institutions across Asia Pacific in AML, fraud and trade compliance. He is a Certified Anti-Money Laundering Specialist and he is a current member of the Association of Fraud Examiners. He participates actively in leading financial crime conferences across Asia Pacific.

About Moody’s: Moody’s Analytics enables banks and fintechs to Make Better, Faster Compliance Decisions, to Identify Risks, and to Prevent Financial Crime. Moody’s Analytics provide best-in-class tools and data, empowering you to understand the risks associated with your customers, suppliers, and extended network

Their services enable you to understand the potential for a wide range of important issues; from trade-based money laundering, asset confiscation & recovery, negative news screening for risk management, and many more

In this interview, Choon discusses how Moody’s offers help to fintechs and banks:

-          Moody’s helps organisation mitigate the risk when it comes to regulatory compliance

-          Regardless of the size of the organisation, Moody’s helps to look at how to improve the process of understanding your clients and assessing the risk of doing business with them.

-          The idea is to help you make the journey as smooth as possible, at the same time comply to the regulatory requirements.

Who are your customers?

-          Moody’s work with large and small organisation alike. Moody’s has solutions ready made for fintechs and corporates where we try not to over complicate the whole implementation process.

Journey to date

-          Moody’s has seen the digital transformation across APAC and are embarking on that same journey with many of the new start-ups taking the lessons we learnt from the much more established bigger enterprise.

Trends in the sector you want to discuss?

-          Regulatory demands increasing….

-          Client demands for faster and easier access to financial systems and market

-          Balance between privacy and security

-          Operational viability in a risk-based approach.

Contact: Choon Hong Chua

Senior Director – Head of Financial Crime Practice, APAC & Middle East

[email protected]