Singapore/Hong Kong, 9 December 2021 – Synpulse Management Consulting was Highly Commended in the Consulting Firm of the Year category in the 4th Regulation Asia Awards for Excellence 2021 at an online ceremony on 9 December 2021.
Synpulse was recognised for its work to help clients address regulatory challenges, including those brought on by the pandemic. Besides being a specialist management consulting company, Synpulse has a global partnership ecosystem of more than 100 established technology firms, which it leverages to tailor targeted solutions for its clients.
Among its key projects for the year, Synpulse has been working with a Singapore financial institution to conduct a gap assessment of its ESG framework against incoming regulatory requirements. In doing so, it created an assessment framework which helped to identify priority issues that needed to be tackled up front. Synpulse also formulated a customised ESG framework and set up governance policies and methodologies for the client.
On the financial crime front, Synpulse assisted a global bank with centralising its client related data and analysis into a single platform, to enhance the bank’s periodic KYC review process. It also integrated network analytics into the KYC review process and trained front office staff on their usage of the new system. The project resulted in significant efficiency gains for the bank and enhanced detection of risk and hidden client networks, which allowed front office bank staff to increase focus on revenue-generating activities.
Synpulse also worked with another global bank on its data management framework, seeking to address its slow response to compliance and audit queries due to the large amounts of data it handled. The project involved the establishment of a centralised risk reporting dashboard with data visualisation capabilities and automated reporting, which resulted in significantly less time spent on manual tasks.
“Synpulse has had a very impressive programme of work for the year. The result has been dozens of complete projects and major uplifts at financial institutions,” said one judge on the awards panel. “Over the last three years, Synpulse has seen impressive growth in APAC, a testament to its expertise in regulatory compliance, problem-solving capabilities, and client-centric approach.”
Synpulse also worked on client projects involving reviewing and updating a private bank’s open banking strategy, a global bank’s investment suitability framework, a wealth manager’s culture and conduct framework, and a bank’s operational risk management and control framework, among several others.
About the Regulation Asia Awards for Excellence 2021
The Regulation Asia Awards for Excellence recognises financial institutions, technology companies, legal and consulting firms, exchanges and other players that help to ensure the highest standards for regulatory compliance are upheld in the financial industry. Each year, senior industry practitioners serve on a judging panel to help assess and score each submission to determine the winning entrants.
For a full list of the award 2021 winners, visit www.regulationasia.com/awards.
About Regulation Asia
Regulation Asia is the leading source for actionable regulatory intelligence for Asia Pacific markets. With over 12,000 subscribers, including regulatory bodies, exchanges, banks, asset managers and service providers, Regulation Asia plays a key role in shaping the regulatory agenda.