Regtech firm Muinmos announced its partnership on Monday with the Cyprus-based fintech services consultancy, DL Consulting for sales and implementation support. Muinmos expects to grow its presence in Cyprus and internationally with this partnership.

Muinmos Taps DL Consulting’s Services

The Denmark-headquartered regtech company already expanded outside Europe in 2020 with the opening of a Singapore office. As Finance Magnates reported earlier, the regtech witnessed a significant uptick in clients from China, Hong Kong, and Taiwan.

Muinmos offers an automated client onboarding platform to financial services companies. It allows the automation of the entire client onboarding chain by integrating AI-powered client categorization into fully automated KYC/AML checks and client risk assessments. With its SaaS product, the company claims to complete client onboarding in under three minutes.

“The partnership with DL Consulting will enable us to accelerate our growth, not just in Cyprus but globally too, and will help clients maximize the benefits of utilizing our platform,” said the Founder and CEO of Muinmos, Remonda Kirketerp-Møller.

“I have known Emma and Paul, Founders of DL Consulting, for a number of years. Their knowledge of IT and compliance, technical capabilities, consultative approach, and experience in the market is very impressive. This partnership is a natural fit, and we look forward to working with them.”

A SaaS Platform to Streamline Operations

DL Consulting covers a wide area of offering services to brokers and other industry players. The company focuses on choosing the right solution to make operations time and cost-effective.

“At DL Consulting, we are highly selective about the strategic partnerships we form – and only work with best of breed, tried and tested, trusted firms. Muinmos has a unique proposition with its fully-automated SaaS solution for verification, suitability and appropriateness checks, and fast onboarding. It is ideal for clients operating in multiple jurisdictions looking to streamline and automate processes relating to onboarding and regulatory compliance,” said Emma Dalziel, the Director at DL Consulting.

Muinmos’ partnership with DL Consulting came when the regtech company strengthened its leadership with new hirings and promotions. It recently onboarded Jens Woeste as a Commercial Director and appointed Michael Thirer as the first Legal, Governance, and Regulatory Affairs Director. In addition, it hired Agnieszka Noworól, a former IG executive, as a Customer Success Director.

Moreover, the partnership will make the position of Minmos stronger in an aggressively growing regtech industry. According to a report by Prophecy Market Insights, the global regtech market generated $8.2 billion in 2022. It is growing at a compound annual growth rate of 8.2 percent and is expected to reach $57.5 billion in 2032.

DL Consulting’s Dalziel added: “I had first-hand experience working with Muinmos a couple of years ago when we helped a South African broker to enhance their client onboarding practices. We were very impressed by the capabilities of Muinmos’ product as well as the seamless implementation.”