Singapore Buyer’s Guide
Best KYC and AML Software in Singapore (2026)
A buyer’s guide for MAS-regulated firms: what your notice requires the software to support, nine platforms with a Singapore presence, and how to choose between an all-in-one platform and specialist tools.
The Short Version
What Singapore Buyers Should Look For
MAS does not approve or endorse compliance software, and your firm stays responsible for meeting its notice whichever tools it uses. The software’s job is to make each obligation repeatable and evidenced: customer due diligence, beneficial ownership, PEP and sanctions screening, ongoing monitoring, suspicious transaction reports to STRO, and records kept for at least five years.
Platforms fall into four broad groups: all-in-one compliance platforms, identity verification specialists, AML monitoring specialists, and risk data providers. Many firms combine two. The table below sets out what to check against the MAS rules.
| What to check | Why it matters in Singapore | Where the rule is |
|---|---|---|
| Which MAS notice applies to you | MAS sets AML/CFT duties by licence type: banks, merchant banks, finance companies, payment and digital payment token providers, capital markets intermediaries, financial advisers, life insurers and trust companies each have their own notice | MAS Notices 626, 1014, 824, PSN01, PSN02, SFA04-N02, FAA-N06, 314 and TCA-N03 |
| Customer due diligence and beneficial owners | Identify and verify customers, people acting for them and beneficial owners, including the parties to trusts | Notice 626, section 6 |
| Politically exposed persons | Enhanced measures for PEPs, with a risk-based approach permitted for domestic and international organisation PEPs unless the risk is higher | Notice 626, paragraphs 8.3 and 8.4 |
| Ongoing monitoring and screening | Monitor relationships and screen customers on an ongoing basis, not only at onboarding | Notice 626, section 6 |
| Suspicious transaction reporting | Reports go to the Suspicious Transaction Reporting Office (STRO); the case record behind each decision must be kept | Notice 626, section 14 |
| Record keeping | CDD records for at least 5 years after the relationship ends, transaction records for at least 5 years after the transaction | Notice 626, paragraph 12.3 |
| Outsourcing | For banks, name screening by a third party is an outsourced relevant service, so vendor due diligence and exit planning apply | MAS Notice 658 and the Guidelines on Outsourcing (Banks) |
The Shortlist
Nine Platforms With a Singapore Presence
Listed with what each company says it offers on its own website, checked on 14 October 2026. We make One Constellation, so it is listed first; each other entry links to a side-by-side comparison. Products change, so confirm current capabilities with each vendor.
| Platform | What it covers | Singapore presence | Best for |
|---|---|---|---|
| One Constellation | KYC and identity verification, KYB and UBO discovery, screening, transaction monitoring, case management with STR/SAR workflows | Headquartered in Singapore | Regulated firms, fund managers and administrators, wealth managers and newly regulated sectors wanting one platform |
| Tookitaki | Transaction monitoring, name and payment screening, onboarding risk scoring, case management, fraud prevention | Headquartered in Singapore | Banks, digital banks and e-wallets wanting AML and fraud monitoring together. Compare |
| Jumio | Document and selfie verification, liveness, AML screening with ongoing monitoring | Singapore office | High-volume identity verification across many countries. Compare |
| Trulioo | Identity verification through data sources and documents, KYB and UBO discovery, AML screening | Singapore office | Verifying people and businesses in many countries through one API. Compare |
| Shufti | Identity and document verification, KYB, AML screening, transaction monitoring, case management | Singapore office | A broad module range with published pricing. Compare |
| Napier AI | Client and payment screening, transaction monitoring, client risk assessment, case management | Singapore office | Banks and payment firms focused on screening and monitoring. Compare |
| Fenergo | Client lifecycle management, KYC, identity verification, transaction monitoring | Singapore office | Large banks that need enterprise client lifecycle management. Compare |
| LexisNexis Risk Solutions | Risk data, screening, payment screening, identity verification, onboarding and monitoring | Singapore office | Large institutions wanting one supplier across data, payment screening and fraud. Compare |
| Dow Jones Risk & Compliance | Sanctions, PEP and adverse-media data, RiskCenter screening tools, due diligence research | Singapore office | Firms wanting screening data and research to feed their own systems. Compare |
How to Choose
Choosing the Right Platform for Your Licence
- Start from your notice. Map each obligation in your MAS notice to the tool that will perform and record it, and check nothing is left to spreadsheets.
- Decide between one platform and several tools. One platform keeps a single record per customer; separate tools can be deeper in one area but need integrating and reconciling.
- Test with your own data. Run a sample of real customers and transactions through each shortlisted tool and compare the alerts and false positives.
- Check outsourcing obligations. Banks should treat third-party name screening as an outsourced relevant service under MAS Notice 658. See our guide to switching AML and KYC vendors.
- Check the evidence trail. Ask each vendor to show how a screening hit or alert becomes an investigation, a decision and, where needed, an STR, and how the record is retained.
For the regulations themselves, see our guides to MAS Notice 626, Notice PSN01 and MAS compliance.
Common Questions
Singapore Software FAQ
Which is the best KYC software in Singapore?+
It depends on your licence and what you need the software to do. All-in-one platforms such as One Constellation cover onboarding, screening, monitoring and reporting together; specialists such as Jumio and Trulioo focus on identity verification, and Tookitaki and Napier AI on monitoring. Start from the obligations in your MAS notice.
Does MAS approve or require specific compliance software?+
No. MAS does not approve vendors, and firms remain responsible for meeting their AML/CFT notice whatever tools they use.
Is using KYC or screening software outsourcing under MAS rules?+
For banks, MAS Notice 658 lists name screening by third-party providers as an outsourced relevant service, and its annex treats SaaS and other public cloud services as outsourced relevant services. Whether a particular arrangement is in scope depends on the facts, so check the notice and guidelines for your licence.
How long must KYC records be kept in Singapore?+
Under MAS Notice 626, CDD records must be kept for at least five years after the business relationship ends, and transaction records for at least five years after the transaction is completed.
How much does KYC software cost in Singapore?+
Pricing models vary: some vendors publish per-verification prices, while most enterprise AML platforms quote based on modules and volumes. One Constellation is priced on request.
See One Constellation Against Your MAS Notice
Book a demo and walk through onboarding, screening, monitoring and reporting mapped to MAS requirements.
