Mission to Disrupt Compliance Tech for a Safer Australia

Compliance technology plays a pivotal role in safeguarding against money laundering and terrorist financing activities. However, access to such technology has often been restricted due to high costs, leaving many businesses, especially smaller ones, vulnerable to regulatory breaches. Recognizing this disparity, INGENII-FIN is on a mission to disrupt the compliance tech market by developing more cost-effective solutions, aiming to make these essential tools accessible to all businesses.

In Australia, compliance with Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) regulations is mandatory for various entities, including financial institutions, legal firms, and real estate agencies. However, implementing compliance measures can be daunting, particularly for smaller businesses with limited resources.  Manually meeting those obligations is fraught with challenges, consuming what limited human effort is available and being prone to human-error leaves those at risk of falling short.  

INGENII-FIN seeks to change this narrative with innovation and efficiency to drive down the costs associated with compliance technology.  With the support of the Microsoft Start-

Up Hub, 3 years of planning and development into a new platform, free of any legacy will aim to democratise access to AML/CTF compliance tools

By making these tools more readily available, every designated and non-designated organisation in the country will be able to effectively screen and report suspicious activities to AUSTRAC efficiently and more effectively, making Australia a safer place.  A broader adoption of compliance technology strengthens the country's defences against illicit financial activities, thereby safeguarding the integrity of the financial system and protecting the interests of businesses and citizens alike.

Compliance tech is no longer the place that innovation forgot.  Through accessible and affordable compliance solutions, INGENII-FIN is poised to make a meaningful impact on Australia's financial landscape, demonstrating the transformative power of technology in combating financial crime and terrorism financing.