The partnership gives Fincy access to a host of compliance and security services as it accelerates its growth across Southeast Asia.
Multi-currency wallet and payments app Fincy is partnering payments and compliance specialist Accuity, the Singapore-based startup announced on Tuesday.
As part of the agreement, Fincy will integrate Accuity’s account screening service in its Know Your Customer (KYC) process, and will look to integrate with Accuity’s API to leverage AI for automated screening and transaction ledgering, the announcement said, noting that Fincy aims to expand its suite of services aimed at small and medium-sized enterprises and the general public.
«As we build out our cryptocurrency offerings, compliance and security will take on an even greater role within Fincy,» Vanessa Koh, Fincy Singapore CEO, said about the partnership.
Growth Plans
Fincy’s plans for user adoption center on cryptocurrency initiatives. These initiatives include a crypto payment gateway and mobile payment provider, a cloud-based custody wallet, a token-based loyalty program for SMEs, and a hosted exchange service, the announcement said.
The firm received an $11 million injection from parent company GCBI Ventures earlier this year, which it said would be used to build the company's presence in Singapore and accelerating its user base and infrastructure growth, first across Southeast Asia, followed by the rest of Asia.
Founded in 2019, Fincy facilitates seamless and instant transactions between crypto and fiat currencies. It employs about 500 staff across Asia.
