Singapore-based technology firm WIDTH has been shortlisted for the “Compliance AI Solution of the Year” at the ICA Compliance Awards APAC 2026. The winners will be announced during an online ceremony on July 21.
The awards recognise innovation and effectiveness in compliance and financial crime prevention. This year’s judging panel includes industry figures such as Hodson of SC Ventures, Khasturi from TMF Group, Teng from Bank of America, Yeoh from UOB, and Bisht of Concentrix.
Platform targets rising regulatory pressure
WIDTH’s nomination centres on its all-in-one compliance and risk decision intelligence platform, built to help regulated organisations manage compliance obligations and financial crime risks. The system combines connected workflows, explainable risk scoring, AI-driven case reviews, and structured evidence documentation.
The platform supports processes across onboarding, screening, transaction monitoring, case management, and audit preparation, while keeping human oversight in decision-making.
The development comes as regulators across Asia-Pacific tighten oversight, particularly in digital asset markets. Jurisdictions including Australia, Japan, Hong Kong, and South Korea are rolling out licensing and compliance frameworks, many with deadlines converging in the second quarter of 2026.
Demand grows for explainable AI in compliance
The need for transparent AI tools is becoming more urgent. Industry data shows 28.4% of financial institutions cite explainability as their top regulatory concern when deploying AI systems. At the same time, only a small portion of global financial crime is currently detected, highlighting gaps in existing infrastructure.
Market growth reflects this demand. The Asia-Pacific crypto travel rule compliance solutions sector was valued at about $0.13 billion in 2025 and is projected to reach roughly $0.18 billion in 2026.
Despite increasing adoption, implementation remains uneven. While 31.8% of firms report using some form of AI, only 12.2% say their strategy is fully developed and adequately resourced.
Compliance becomes competitive differentiator
As more countries introduce formal regulatory frameworks, compliance capabilities are emerging as a key factor for firms operating across multiple jurisdictions. Clearer rules are also expected to support broader market participation by reducing uncertainty and strengthening operational standards.
Founded by Chionh, WIDTH operates out of Singapore and serves financial institutions, fintechs, and payment firms across the region.
The International Compliance Association, established in 2001, has trained more than 160,000 professionals globally through programmes delivered with Alliance Manchester Business School. The organisation remains a central body in shaping global compliance standards as regulators increasingly shift toward outcome-based oversight models.
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