FNG Exclusive… FNG has learned that longtime Cyprus based FX industry executive Nick Jay has joined regtech firm Muinmos. His title at Muinmos will be Business Consultant, but functionally Nick will be advising companies that require to complete KYC procedures, client classification, risk and ongoing monitoring on how to stay safe and save huge amounts of money, time and stress.

Nick Jay was one of a handful of experienced Retail FX and CFDs industry executives who joined together to help launch Cyprus based broker M4Markets in 2020. He served as M4Markets’ Chief Business Development Officer, until leaving in mid 2023. Prior to M4Markets Nick worked for five years at HotForex as Head of Partnerships. He had also previously served as Global Sales Manager at IronFX, and as Retention Manager at FXGM, dating back to 2011. For the past year Nick did business development work for offshore CFDs broker XtremeMarkets.

Muinmos’ Regulatory Onboarding Engine uses algorithmic rule-based AI, Machine Learning and Neural Nets, and is used by banks, brokers and asset and wealth managers across the globe. Through three distinct and secure product modules – mPASS, mCHECK and mRX – Muinmos delivers automated onboarding of any client type in under 3 minutes. Muinmos solutions increase new business opportunities by identifying which products you can sell to which clients and in which jurisdictions. They ensure you are always compliant across multiple jurisdictions, mitigating risks of fines from regulatory breaches.

Nick posted the following note today on social media regarding his decision to move to the “B2B” side of the business with Muinmos.

Dear Network,

Proud to announce a new path as a consultant for Muinmos

After many years of building and heading business development, sales and retention teams for FX firms, travelling to over 70 countries and focusing on retail numbers mostly through introducer networks and affiliates, I have decided to switch to b2b.

Why?

I literally had no idea that compliance related systems were such a huge industry, but if u think about all the companies globally which are required to perform kyc checks, client classifications, risk assessments and ongoing monitoring, it does make sense. Fx, crypto, prop, banks, insurers, wealth management, payment solution providers all are examples of firms which must know their clients!

Nowadays, global regulators are getting more strict, issuing more fines and cracking down on so many companies which try to avoid the correct and compliant procedures.

Muinmos is one place to be fully covered from all of that with an incredible AI focused SaaS platform.

Connected to more data sources and regulators than anywhere else, muinmos is the provider to cover all other providers in this area. Kyc/kyb checks, client classification and risk / monitoring are all covered. No more reputational risks or regulator fines to worry about once you have this system implemented.

Save massive amounts of money, time and never worry about if you are onboarding clients correctly again.

Happy to tell u much more, then set up a demo for your teams to test.

Connect it