RiskCapCom and Blockchain firm Apollo Fintech partner for Compliance Solution

RegTech firm Risk & Capital Compliance Solutions (RiskCapCom) and Blockchain enabled Apollo Fintech have partnered  to bring together a world-first banking compliance solution integrated with the world’s most comprehensive CBDC and E-Government solutions. According to the press release the partnership will service and market the cryptocurrency and financial services markets of the Middle East, Africa, Asia, and Australia. 

Stephen McCullah, CEO of Apollo Fintech stated, "This exciting partnership enables Apollo Fintech and RiskCapCom to strengthen financial systems, reduce bureaucracies, increase compliance quality and strengthen economies across the globe,” . “We’re now working with RiskCapCom on an integrated platform of compliance and blockchain/cryptocurrency technology, as well as an e-Payment sandbox license application in the Kingdom of Saudi Arabia (KSA), UAE, Pakistan and a number of other nations.”

RiskCapCom is an Australian fintech firm that offers a compliance management and reporting system for central bank supervisors/regulators and commercial banks. The firm is currently deploying software solutions in Australia, Hong Kong, New Zealand, Russia, Saudi Arabia, and other jurisdictions. The press release adds, " The new partnership will serve as a springboard for Apollo Fintech to develop relationships and obtain contracts in the Middle East, Asia, Africa, and other global regions. Apollo will also work with RiskCapCom to develop a fully integrated solution of compliance management and reporting system for blockchain/cryptocurrency organizations."

Risk & Capital Compliance Solutions has successfully deployed compliance and reporting software that is currently used by the Central Bank of Russia which manages the compliance of more than 800 banks. The system is also used by Russia's largest commercial Banking Group (a global top 40 banking group) and an Australian ASX-listed Banking Group with more sales in the offing. “Our banking compliance solutions are becoming ever-more in demand, with increasing traction and license sales to banks in Australia, Hong Kong, and New Zealand. ,” says Zeyn Adam, CEO of RiskCapCom. “The commercial banking system is also currently under trial by banks in Saudi Arabia overseen by our regional partner Carlyle Square Consulting.” 

Apollo Fintech has been working to promote Blockchain in the MENA region for the past two years. In August of this year it launched its payment platform as well as a Goldbacked stablecoin.