Identitii Named ‘One to Watch’ in AML/CTF Reporting

Singapore/Hong Kong, 15 December 2020 – Identitii has been recognised as ‘One to Watch’ in AML/CTF Reporting in the 3rd Regulation Asia Awards for Excellence 2020 in an online ceremony on 15 December 2020.

Identitii is an Australian based regtech, focusing on improving trust and transparency of financial crime information flows. Its Overlay+ platform is designed to make it easier for financial institutions to provide regulators with the information they need to prevent financial crime, while at the same time reducing the regulatory burden associated with reporting and the risk of fines for non-compliance.

Overlay+ automates the identification of reportable and non-reportable transactions, and helps firms to spot problems with reporting data early on (such as missing KYC or beneficial ownership information) so they can be remediated prior to being submitted to regulators. This helps to ensure completeness and accuracy of reporting, without replacing any existing technology at a reporting entity.

The platform sits on top of existing payments, customer and reporting systems, acting as a single information layer that can be securely shared with internal or external parties, including regulators. It is designed to be able to draw from structured and unstructured information from any payment system and in any message format, to create a single, transparent and auditable view of the transaction data used for filing reports to regulators.

“Identitii presents a timely solution that helps banks and other reporting entities to comply with reporting requirements more rapidly and with more certainty,” said one judge on the awards panel. “Overlay+ could help a lot of reporting entities that still rely on manual processes to identify reportable and non-reportable transactions and ensure they are reported accurately to regulators, including AUSTRAC.”

Identitii has recently announced a number of deals with large global customers for its Overlay+ platform. It also announced this week that it has received US patent approval for its secure financial information sharing ecosystem, that underpins it’s Overlay+ platform.

About the Regulation Asia Awards for Excellence 2020

The Regulation Asia Awards for Excellence recognises financial institutions, technology companies, legal and consulting firms, exchanges and other players that have helped meet the challenges of the ever-changing and increasingly complex regulatory landscape in Asia Pacific. Each year, submissions are diligently evaluated and award winners selected by a panel of industry experts serving as judges.

The full list of award winners is available here.

About Regulation Asia

Regulation Asia is the leading source for actionable regulatory intelligence for Asia Pacific markets. With over 8,500 subscribers, including regulatory bodies, exchanges, banks, asset managers and service providers, Regulation Asia plays a key role in shaping the regulatory agenda.

Visit or connect via LinkedIn or Twitter.


To Top
Share via
Copy link
Powered by Social Snap