The Client |
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Our client is a Singapore-headquartered RegTech company that operates a proprietary digital identity platform used across Asia-Pacific, Europe, and North America. The platform supports critical compliance functions including Know Your Business (KYB), Know Your Customer (KYC), and Ultimate Beneficial Owner (UBO) verification for financial institutions, payment platforms, and e-commerce companies.
With a client base across over 15 countries, access to 334 million company records, and processing capacity exceeding 2.9 million verification transactions annually, the company has received accolades such as the Singapore FinTech Festival’s Global FinTech Award and inclusion in the RegTech100. It counts top-tier enterprises like TransUnion, Moody’s Kompany, and MangoPay among its users. It is also part of IMDA’s SPARK Accreditation program.
With a client base across over 15 countries, access to 334 million company records, and processing capacity exceeding 2.9 million verification transactions annually, the company has received accolades such as the Singapore FinTech Festival’s Global FinTech Award and inclusion in the RegTech100. It counts top-tier enterprises like TransUnion, Moody’s Kompany, and MangoPay among its users. It is also part of IMDA’s SPARK Accreditation program.
How RIC Helped |
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Grant Secured:
RIC supported the client in securing the Enterprise Development Grant (EDG) under the Innovation & Productivity – New Product Development category. The project was awarded S$178,200 in funding, covering up to 70% of qualifying costs.
Scope of RIC’s Support and Advisory:
RIC was engaged to help the client scope and plan a deeply technical project focused on developing a next-generation global platform for compliance intelligence. This included the buildout of:
RIC managed the entire grant development process, including:
RIC supported the client in securing the Enterprise Development Grant (EDG) under the Innovation & Productivity – New Product Development category. The project was awarded S$178,200 in funding, covering up to 70% of qualifying costs.
Scope of RIC’s Support and Advisory:
RIC was engaged to help the client scope and plan a deeply technical project focused on developing a next-generation global platform for compliance intelligence. This included the buildout of:
RIC managed the entire grant development process, including:
- Technical documentation of the system architecture and technology stack.
- Financial impact analysis projecting over S$7.5M in revenue by 2027 and creation of nine new PMET roles.
- Detailed vendor evaluation and manpower costing aligned with global expansion goals.
- Full submission on Singapore’s Business Grants Portal (BGP), as well as milestone planning, audit processes, and claim preparation.
Outcomes |
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The project is on track to deliver significant commercial and technical milestones:
RIC continues to work hand-in-hand with the client on execution support, claim documentation, and investor readiness. Our ability to handle both the technological depth and commercial narrative of complex innovation projects was key to unlocking this high-impact EDG award.
This engagement highlights RIC’s ability to drive results for ambitious, innovation-driven clients. With deep expertise in technology, grant mechanics, and commercial strategy, we are the consultancy of choice for RegTech, FinTech, and deep-tech companies looking to scale globally with government support.
- Global Platform Launch: A fully new digital identity platform ready for global rollout, starting with Europe, and expandable to the US, UAE, and Africa.
- New Customer Segments: Opening up access to the e-commerce merchant segment through blockchain-enabled onboarding technology.
- Workforce Expansion: Hiring of three new Singapore-based developers and product specialists, with six more planned by 2027.
- Revenue Growth: Forecasted 13x increase in revenue over four years, from S$525k to over S$7.5M, driven by new global users and upsells to existing clients.
- Technological Differentiation: The company is now positioned as a global innovation leader in the RegTech space, with unmatched capabilities in multilingual KYB/KYC and cross-border UBO analytics.
RIC continues to work hand-in-hand with the client on execution support, claim documentation, and investor readiness. Our ability to handle both the technological depth and commercial narrative of complex innovation projects was key to unlocking this high-impact EDG award.
This engagement highlights RIC’s ability to drive results for ambitious, innovation-driven clients. With deep expertise in technology, grant mechanics, and commercial strategy, we are the consultancy of choice for RegTech, FinTech, and deep-tech companies looking to scale globally with government support.