Improve productivity by 30x with Vertex AI automation and data analysis
Enables secure and scalable data storage for large volumes of unstructured data
Accelerates deployment of serverless applications, reducing latency and streamlining operations
Provides dynamic data structures for fast, reliable data retrieval and enhanced security and performance
M-DAQ chose Google Cloud's extensive range of solutions and pricing models to ease the complexity and volume of data generated from its new AI-driven Know Your Business (KYB) compliance solution.
M-DAQ chose Google Cloud's extensive range of solutions and pricing models to ease the complexity and volume of data generated from its new AI-driven Know Your Business (KYB) compliance solution.
The new way to automate secure financial compliance
As a pioneering fintech group specializing in foreign exchange (FX) and payment solutions, M-DAQ has experienced significant growth in the adoption of its Wallex Partner Service solution. It empowers partners to tap into their advanced FX and payment capabilities through API connectivity, enabling them to deliver a seamless cross-border experience to their merchants.
With this surge in adoption, M-DAQ faced a sharp increase in customer onboarding demands. The traditional manual process for conducting business background checks — commonly referred to as Know Your Business (KYB) in the compliance landscape — became a critical bottleneck, slowing down operations and impacting scalability.
To address this challenge, M-DAQ developed an AI-powered solution that leverages cutting-edge natural language processing models. This innovative approach automates and streamlines the KYB process, improving efficiency and enhancing the overall user experience.
This solution is powered by Google Cloud, thanks to the platform's seamless scaling, secure, and scalable data storage, rapid deployment of serverless applications, automation, and data retrieval and analysis.
Why Google Cloud?
M-DAQ required a robust data infrastructure to handle the growing number of onboarding requests and the complexity of data generated by its AI-driven KYB solution. Google Cloud provided the ideal platform, empowering M-DAQ to seamlessly support and scale their solution with ease and efficiency.
With Google Kubernetes Engine, M-DAQ can seamlessly orchestrate and scale its workloads, ensuring its platform can handle the rapidly growing volume of server-side requests. Using Vertex AI also allows the automation of compliance tasks and robust data analysis, helping to increase productivity by 30 times while paving the way for even more improvements.
"Our solution addresses industry challenges by leveraging AI to automate compliance processes. It reduces onboarding times, enhances data quality, and ensures regulatory adherence. By eliminating manual bottlenecks and enabling real-time monitoring, we empower businesses to operate efficiently and securely in this complex landscape," says Andrew Marchen, GM of Payments and Co-Founder of Wallex.
All of this is further supported by Cloud Storage and Cloud Run functions, with expanded capacity for secure data storage of large volumes of unstructured data and reduced latency when deploying serverless applications quickly.
M-DAQ uses MongoDB as an additional database solution for dynamic data structures, ensuring fast, reliable data retrieval and supporting a multi-tenancy architecture, leading to enhanced security and performance overall. With the support of Google Cloud and its suite of tools and services, the team continues to focus on innovating new features and solutions.
Our solution addresses industry challenges by leveraging AI to automate compliance processes. It reduces onboarding times, enhances data quality, and ensures regulatory adherence. We empower businesses to operate efficiently and securely in this complex landscape by eliminating manual bottlenecks and enabling real-time monitoring.
Andrew Marchen
GM of Payments and Co-Founder, Wallex
"We are actively building internal expertise on Google Cloud and exploring the possibility of enabling access to our app through the marketplace as part of our future project considerations," says Marchen.
M-DAQ Global is a pioneering fintech group specializing in foreign exchange (FX) and payment solutions that facilitate seamless cross-border transactions for businesses worldwide. Our proprietary technology empowers both large enterprises and SMEs to navigate international trade with FX clarity, certainty, and payment mobility.
We provide a comprehensive suite of FX, collections, and payment solutions, including Wallex Partner Services, which provides players like payment service providers (PSPs) the ability to offer cost-effective, real-time FX to their merchants.
Industry: Financial Services
Location: Singapore
Products: Google Kubernetes Engine, Vertex AI, Cloud Storage, Cloud Run functions, MongoDB
