Man in business shirt playing with toy blocks on wood desk. There are compliance related words printed on the blocks
Asia Fintech Partnerships Regtech Trending

Clausematch Experiences Strong Appetite for Compliance Automation From APAC SMEs

Working in collaboration with Singapore-based Ingenia, the regtech company Clausematch is currently experiencing a significant level of growth within Asia, having signed on five new clients in the region in the last three months.

The growth is a direct result of an increased appetite towards regtech solutions that work to streamline and enhance the effectiveness of compliance and risk management, instigated by recent grants of S$42 million by the Monetary Authority of Singapore (MAS).

Clausematch and Ingenia formed a partnership back in 2019, combining Clausematch’s regulatory technology solutions with Ingenia’s management services.

The union represents the next stage of full suite “Compliance-as-a-Service” offerings that allow smaller and medium-sized financial institutions to outsource their compliance function.

While outsourced compliance services generally free up time for smaller enterprises to focus their resources on their core business, this union facilitates their access to regtech tools that can automate and streamline compliance operations. The financial institutions themselves can pursue enhancements in their core business technology.

In parallel, the union of managed compliance services and regtech will propel their compliance forward. The partnership has proven beneficial to both parties and clients alike.

However, over recent months, supported by government financing initiatives, Clausematch and Ingenia are seeing a sharp increase in the adoption of regtech solutions in combination with managed compliance services.

A total of five new clients from Singapore have recently signed with the partnership. Both Ingenia and Clausematch credit government initiatives with helping to stimulate the increased implementation of regtech in compliance.

Government Financing Initiatives

At the outset of the pandemic, the MAS launched the Digital Acceleration Grant for a total of S$35 million which was succeeded by the enhancement to this grant and a regtech grant scheme for a total of S$42 million announced in April 2021.

The MAS Enhanced Digital Acceleration Grant programme was launched to help smaller financial institutions and fintech firms adopt digital solutions to position themselves for recovery and growth post-pandemic.

In view of the strong original response, the MAS extended the window for applications to the end of 2021 and allocated a further S$30 million. The regtech grant scheme aims to “accelerate technology adoption in the financial sector, specifically for risk management and regulatory compliance.”

Rolf Haudenschild, Co-founder, Ingenia
Rolf Haudenschild, Co-founder, Ingenia

Rolf Haudenschild, Co-founder of Ingenia, says: “Many smaller institutions recognise the benefits of RegTech in principle, but cost and implementation are significant barriers. Ingenia, in partnership with Clausematch, plays a critical role by acting as an aggregator for RegTech solutions, allowing institutions to leverage our economies of scale in the compliance segment. The MAS initiatives are now helping more organisations to benefit from enhancements through RegTech.”

Evgeny Likhoded, CEO and co-founder of ClauseMatch
Evgeny Likhoded, CEO and co-founder of ClauseMatch

Evgeny Likhoded, CEO and Founder of Clausematch, added: “We are delighted that Clausematch’s platform, in partnership with Ingenia, is gaining such enthusiastic reception among clients in Asia. The success of the MAS initiatives underscores the critical role that governments and financial authorities play in helping to foster and promote innovation and technological adoption.”


  • Tyler is a fintech journalist with specific interests in online banking and emerging AI technologies. He began his career writing with a plethora of national and international publications.

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