12 March 2024, London/New York: SteelEye, the pioneering integrated surveillance platform trusted by well over 150 financial firms worldwide, has strengthened its footprint in the Asia-Pacific (APAC) region by incorporating in Singapore—enabling closer collaboration with clients and regulatory authorities.
The move comes amid heightened enforcement action from the Monetary Authority of Singapore (MAS), which fined four banks and an insurer in the last year to tackle money laundering and market misconduct according to SteelEye’s 2024 Annual Fine Tracker.
The region’s stringent regulatory frameworks present unique challenges for financial institutions, requiring them to comply with a range of rigorous market surveillance rules. Incorporating in Singapore enhances SteelEye's ability to provide best-in-class communications and trade surveillance solutions to financial firms in APAC.
Recognizing the parallels between the regulatory environments in APAC, North America, and Europe, where SteelEye has long-established expertise, the company is well-positioned to continue assisting financial firms in APAC to address compliance complexities.
Commenting on the news, Matt Smith, CEO of SteelEye, said: "Fortifying our presence in APAC underscores our commitment to providing unparalleled support to our clients in the region. By leveraging our extensive experience, SteelEye’s market-leading trade and communications surveillance solutions are ideally placed to enable financial firms operating in APAC to meet their regulatory obligations effectively."
SteelEye is an established compliance vendor, trusted by well over 150 firms globally with their most important requirements. The firm’s integrated platform includes best-in-class solutions for trade and communications surveillance. SteelEye’s technology stack is underpinned by innovation and powered by the latest technologies, including AI and ML, to enable financial firms to reduce noise, optimize time, and pinpoint risk effectively. SteelEye’s CoPilot for communications is a virtual, AI-driven compliance assistant that enhances the surveillance alert review process, drives efficiencies, and speeds up resolutions.
For more information, please contact:
Emmy Granström
Global Head of Marketing – SteelEye
emmy.granstrom@steel-eye.com
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