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Compliance and Cyber Risk Assessment

Helping Fintech to Meet Compliance to Singapore and Hong Kong Risk Regulations

Helping Fintech to Meet Compliance to Singapore and Hong Kong Risk Regulations

The Background

Bambu is a robo-advisory solution provider offering financial and consumer brands the ability to integrate and benefit from the ongoing digital transformation in wealth management. Founded in 2016, the company is headquartered in Singapore by industry experts Ned Phillips and Aki Ranin, and with subsidiaries in Hong Kong and the United Kingdom. 

Bambu offers a digital platform for wealth management on AWS cloud for financial sector clients which are highly regulated. As Bambu's business grows, clients request more the platform conforms to the regulatory requirement of the countries the platform is hosted and client it services. The challenge is becoming compliant to multiple technology risk regulations without breaking or offering a sub standard platform.

The Process

Pragma worked with Bambu to perform compliance assessment against technology risk management regulations and full technology testing assertation for the platforms. We distilled the regulatory requirements to ensure only the requirements required for non financial entity need be conformed to.

We performed both onsite and offsite assessments of the platform and Bambu's operations procedures. The assessment process enable Bambu to mitigate control deficiencies on their infrastructure architecture and policies and procedures, and helped them build a robust Robo Advisory Platform which is compliant to Hong Kong Monetary Authority Technology Risk regulations and Monetary Authority of Singapore Technology Risk Management guidelines.

The Result

Our recommendations and final assessment enabled Bambu to show compliance to the regulatory in Hong Kong and Singapore. Meeting compliance also helped them secure funding and multiple clients.

Bambu understands the risks of their publicly-accessible infrastructure, and our support helped them to mitigate many of these risks through from our deep knowledge of technology, regulations recommendations and solutions.

Tags:

Compliance
Fintech
Risk Regulations
Singapore
Hong Kong
Technology Risk Management
Robo-Advisory
AWS Cloud
Regulatory Requirements
Technology Testing
Compliance Assessment
Infrastructure Architecture
Policies and Procedures
Robust Platform
Hong Kong Monetary Authority
Monetary Authority of Singapore
Funding
Clients
Risk Mitigation
Technology Solutions

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