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

The Challenge

Due to local regulations requirements from where it operated, Bambu needed help in ensuring their processes meet compliance requirements. There are also concerns over security from different stakeholders that require them to ensure their platform is robust and resilient against cyber threats. 

The Solution

Pragma worked with Bambu to perform compliance assessments 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 entities had to be conformed to.

We performed both onsite and offsite assessments of the platform and Bambu’s operations procedures. The assessment process enables 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 with Hong Kong Monetary Authority Technology Risk regulations and Monetary Authority of Singapore Technology Risk Management guidelines.

Our recommendations and final assessment enabled Bambu to show compliance with the regulations 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 our deep knowledge of technology, regulations recommendations and solutions.