What is AlgoCandy?
AlgoCandy is an AML/CFT (Anti-Money Laundering/Countering the Financing of Terrorism) compliance platform designed specifically for Corporate Service Providers (CSPs) and professional service firms in Singapore. The solution centralizes the compliance lifecycle, including client onboarding, Know Your Customer (KYC) verification, and regulatory reporting.
Key Capabilities
- Automated AML Screening: The platform performs automated screening of individuals and entities against global databases to identify Politically Exposed Persons (PEPs) and individuals on Sanction Lists.
- CDD & Risk Assessment Center: Upon client data submission, the system generates Customer Due Diligence (CDD) cases for all associated directors and shareholders. It calculates risk levels based on standardized parameters and generates structured compliance reports.
- eKYC & Identity Verification: The solution includes digital identity verification tools to authenticate clients remotely, replacing manual document collection with encrypted data synchronization.
- Ongoing Monitoring: AlgoCandy tracks client risk profiles continuously and provides automated alerts when triggers necessitate CDD updates or enhanced due diligence.
- ACRA Compliance Tools: The platform includes specialized modules for ACRA (Accounting and Corporate Regulatory Authority) compliance reviews and AML self-check assessments to prepare firms for regulatory audits.
Audience & Use Cases
- Audience: Compliance officers, legal professionals, and ACRA-registered Corporate Service Providers.
- Use Case: Automating the mandatory AML/CFT checks required during the incorporation and ongoing management of Singapore-based corporate entities.
Technical Specifications
- Data Security: The platform is ISO/IEC 27001:2022 certified for information security management.
- Regulatory Alignment: The software is mapped to the Singapore IPPC (Internal Policies, Procedures, and Controls) template.
- Workflow: Web-based interface with encrypted data storage and real-time synchronization.
Categories & Use Cases
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Screenshot of DashBoard
