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Free Malaysia Today
2 days ago
- Business
- Free Malaysia Today
K Maheswari: From hockey captain to transparency leader
As an athlete and regulatory officer, K Maheswari broke barriers and lifted others. (K Maheswari pic) PETALING JAYA : If there's one person who knows how to read the field and intercept trouble before it strikes, it's Maheswari Kanniah. The former captain of Malaysia's women's hockey team built a reputation for sharp instincts, tactical discipline, and fearless leadership on the field. Her ability to read the game and rally a team was second to none. She's since brought those same qualities to an entirely different turf — the high-stakes world of financial compliance and fraud prevention. It's a space where the pace is relentless, the risks are real, and the margin for error is even smaller. And she's just scored two final goals before retiring on Thursday as group chief regulatory and compliance officer at Kenanga Investment Bank Berhad. K Maheswari at the ACFE global fraud conference in Nashville, USA in June. (Victor Goodpasture pic) Maheswari has been recognised by the Malaysia Book of Records as the first Malaysian elected to the ACFE board of regents. She is also the first in Southeast Asia to receive the ACFE's outstanding achievement in outreach and community service award. ACFE stands for the Association of Certified Fraud Examiners, essentially, the champions league of anti-fraud professionals. To be recognised by this global body for financial integrity is no small feat. But for Maheswari, it's just another well-earned win in a career that has spanned nearly five decades and transitioned seamlessly from sports arenas to boardrooms. It's the final whistle on a 47-year career built on discipline, conviction, and a refusal to play safe, whether on the pitch or in the corporate trenches. Turf to trust Before she was in high finance, Maheswari was patrolling the centre-half position in one of Malaysia's most iconic hockey squads. Malaysia's bronze medal-winning women' hockey squad at the 1982 Asian Games in New Delhi. (K Maheswari pic) She was part of the national team that clinched bronze at the 1982 Asian Games in New Delhi, a breakthrough for women's sports at a time when female athletes were often sidelined. Captained by the legendary goalkeeper Mary Soo, the team fought not just for a medal, but for visibility, respect, and a place in history. That squad, widely regarded as Malaysia's finest women's hockey team, laid the groundwork for today's rising stars. Maheswari's early juggling act between sports and study was shaped by her late father, a champion of education who believed knowledge was the real passport to success. That mindset served her well as she transitioned from athlete to regulatory officer. 'Sport taught me discipline. Finance taught me structure. Combining both gave me an edge — the ability to see what others might miss,' said Maheswari, 65. K Maheswari at the international fraud awareness week in Kenanga last November with (L-R) Ganesh Thuraisingham, ACFE head Asia Pacific & Middle East, MACC chief Azam Baki and Chay Wai Leong, group managing director of Kenanga. That advantage proved vital in her rise through the financial services sector. At Kenanga, she didn't just head compliance, she transformed it. Her approach made regulatory governance not just a function, but a living culture. One of her defining contributions is the creation of fraud awareness week, an interactive, gamified compliance programme that's now in its eighth year. What started as an internal initiative now involves over 500 participants across Malaysia and abroad, and recently earned Kenanga another Malaysia Book of Records entry, 'Most Participants in Fraud Awareness Games.' 'Compliance doesn't have to be boring. It has to matter,' she said. 'People remember what they enjoy, and they take it seriously when they feel involved.' She also spearheaded Kenanga's corporate partnership with the ACFE, becoming the first Malaysian organisation to join the alliance. The number of certified fraud examiners in the bank jumped from two to 25 in just three months under her leadership. Breaking barriers, lifting others 'Representation matters. When people from our part of the world lead on global platforms, we challenge the narrative. We expand the lens,' said Maheswari. Her role as regent is already bearing fruit. Malaysia will host the ACFE Asia-Pacific Fraud Conference for the first time next month, bringing together regulators, compliance professionals and law enforcement under one roof. Behind Maheswari's accolades is a firm belief in nurturing others. She is a fierce advocate for mentorship, believing that lifting others isn't an option. 'It's a responsibility.' 'I was lucky to have mentors who believed in me. Now I try to be that voice for someone else,' she said. 'You rise higher when you rise together.' She has spent years mentoring young compliance professionals, particularly women trying to find their footing in a demanding and often male-dominated industry. Maheswari's leadership also helped shape Kenanga's Speak Up Policy and its move to onboard Confide, a third-party whistleblower platform and the first of its kind in Southeast Asia, founded by a whistleblower, for whistleblowers. 'Integrity isn't what's written in the code of conduct. It's how people feel when they see something wrong, and whether they feel safe enough to say something.' Retiring, but never out of the game With mentorships to continue, international conferences to help shape, and a global anti-fraud community to strengthen, she sees her next chapter as more coach than captain. After nearly half a century of defending principles and protecting trust, Maheswari's legacy is not just about being the 'first'. 'It's about opening the door for many more to follow.' The unbreakable bond K Maheswari shares with her hockey teammates continued at an outing in Taiping over the weekend. (Standing from left): Elizabeth Gomez, Halimahton Yaacob, Ong Pek Im, Agnes Leong, Lau Siew Tang, Noraihan Bahai and HK Parameswarie. (Seated): Lum Sau Foong and Maheswari Kanniah. (K Maheswari pic) Maheswari's career is a masterclass in transformation. From a star athlete to globally recognised compliance leader, she's spent a lifetime creating pathways, not just for herself, but for others. She changed how institutions think about risk. She made ethics a team sport. And she reminded Malaysia, and the world, that true leadership is never about the title. 'It's about showing up, speaking up, and standing firm. 'I never set out to break records. I set out to do what felt right, and to do it well,' she says. 'The rest took care of itself.' It all comes full circle as she reflects on the values that shaped her journey. 'I owe everything to my parents,' says Maheswari. 'They taught me to stand my ground, speak the truth, and always do what's right, no matter who's watching.'
Finextra
01-07-2025
- Business
- Finextra
AI-led RegTech startup Zango raises $4.8 million
London-based Zango AI has raised $4.8 million to overhaul financial compliance systems with AI agents. 0 The funding round was led by Nexus Venture Partners, with addittional participation from South Park Commons, Richard Davies, CEO of Allica Bank, Alan Morgan, former head of Financial Services at McKinsey (EMEA), Mark Ransford, Notion Capital, No Label Ventures and Start Ventures. Already used by Novobanco in Portugal and UK and EU neobanks, including Monzo and Juni, Zango's regulation-aware AI agents continuously track regulatory updates, identify compliance gaps in real time, and keep firms audit-ready. The firm is training Large Language Models to transform compliance into a query-based operating systemm, answering questions like: 'I want to launch a lending product in [Y] market — what do I need to do?' Ritesh Singhania, co-founder of Zango, says: "Our AI agents are paired with humans-in-the-loop to ensure 100% accuracy. Peace of mind doesn't come from a tool; it comes from a result. That's why we win against consultants — because they don't just sell software, and neither do we.' Singhania previously founded ClearGlass, a pension compliance platform, and served as head of technology at Simplitium, which was acquired by Nasdaq. Fellow co-founder Shashank Agarwal co-founded Third Watch, an AI-powered fraud detection startup which was acquired by Razorpay, and led trust and compliance engineering at PhonePe, which is gearing up for India's largest IPO. The funds raised will be used to expand teams in London & Bengaluru along with building out the other product modules for an AI-native GRC. Zango also intends to expand into other verticals of financial services as well outside of banking to insurance and asset management.
Khaleej Times
20-06-2025
- Business
- Khaleej Times
Fintech major Qi andUS-based K2 Integrity join forces to align Iraq's financial sector with global standards
In a strategic move to strengthen financial compliance standards across its operations, Qi, also known as International Smart Card, has signed a landmark partnership with K2 Integrity, a global compliance and financial crime advisory firm. Qi-K2 scope of work will be split into Qi UAE, Qi Jordan and Qi Iraq. K2 Integrity will build a large operations and compliance back office in Jordan for Qi and will integrate this office into Qi's compliance ecosystem. K2 Integrity will further use Qi's UAE back office as an innovation incubator and sandbox for new Qi products and services. This long-term collaboration marks a new milestone for upgrading not only Qi's internal controls but also developing a model for strengthening the integrity for the entire Iraqi financial system. The agreement comes at a time when the Iraqi economy has started rebuilding post war and the country has increased its multilateral integration with the international financial institutions, central banks, governments and foreign investors. The concerns over outdated compliance and transparency have challenged the country's reputation. At this point, Qi has taken decisive action and partnered with a pioneer and powerhouse of the modern global AML/CFT compliance and standards conglomerate. The Qi and K2 Integrity duo is set to shift this narrative and build a model of excellence for compliance in Iraq. 'This is not just about one business group,' said Bahaa Abdul Hadi, chairman of International Smart Card (ISC), which owns and operates the Qi Card platform. 'This is about Iraq and its economic future. We believe in leading by example as we did in the past. We are investing heavily to ensure our systems, people, and partners meet the highest global standards of financial integrity.' 'This partnership illustrates Qi's proactive stance in positioning the company's and Iraq's electronic payment infrastructure at the forefront of global compliance standards,' said Bahaa. The partnership spans a 36-month roadmap split into three phases, where K2 Integrity will perform the following strategic tasks: Evaluate and transform Qi's current financial crime compliance (FCC) framework. Train Qi's personnel across all levels - from frontline staff to executive leadership. Take operational responsibility for implementing globally benchmarked compliance practices. Transition the program into a sustainable, best-in-class model eventually managed by Qi. What distinguishes this initiative is its national impact. Qi is Iraq's largest electronic payment platform, serving millions of customers and integrating with the central government, major banks, and global payment networks. The compliance infrastructure built with K2 Integrity for Qi will ripple across the country's financial ecosystem, influencing how banks, the fintech sector, and regulators approach risk, governance, and trust. The New York-based K2 Integrity brings decades of experience advising the US government, international institutions, and Fortune 500 banks. Its team includes former senior US Treasury officials who helped craft counter-illicit finance strategies and global standards. K2 Integrity's entry in Iraq signals confidence in Iraq's financial reform trajectory. 'Qi is setting the tone for a new era in Iraq,' said Chip Poncy, global head of Financial Integrity at K2 Integrity. 'By committing to global standards and transparency, Qi is building not just resilience, but regional leadership in financial compliance.' This initiative will position Iraq to regain credibility with international partners, attract investment, and enable more secure, scalable cross-border transactions, particularly vital for trade, remittances, and financial inclusion.
Zawya
18-06-2025
- Business
- Zawya
Fintech Major Qi and U.S.-based K2 Integrity join forces to align Iraq's financial sector with global standards
Dubai, United Arab Emirates – In a strategic move to strengthen financial compliance standards across its operations, Qi, also known as International Smart Card, has signed a landmark partnership with K2 Integrity, a global compliance and financial crime advisory firm. Qi-K2 scope of work will be split into Qi UAE, Qi Jordan and Qi Iraq. K2 Integrity will build a large operations and compliance back office in Jordan for Qi and will integrate this office into Qi's compliance ecosystem. K2 Integrity will further use Qi's UAE back office as an innovation incubator and sandbox for new Qi products and services. This long-term collaboration marks a new milestone for upgrading not only Qi's internal controls but also developing a model for strengthening the integrity for the entire Iraqi financial system. The agreement comes at a time when the Iraqi economy has started rebuilding post war and the country has increased its multilateral integration with the international financial institutions, central banks, governments and foreign investors. The concerns over outdated compliance and transparency have challenged the country's reputation. At this point, Qi has taken decisive action and partnered with a pioneer and powerhouse of the modern global AML/CFT compliance and standards conglomerate. The Qi and K2 Integrity duo is set to shift this narrative and build a model of excellence for compliance in Iraq. 'This is not just about one business group,' said Bahaa Abdul Hadi, Chairman of International Smart Card (ISC), which owns and operates the Qi Card platform. 'This is about Iraq and its economic future. We believe in leading by example as we did in the past. We are investing heavily to ensure our systems, people, and partners meet the highest global standards of financial integrity.' 'This partnership illustrates Qi's proactive stance in positioning the company's and Iraq's electronic payment infrastructure at the forefront of global compliance standards,' said Bahaa. Setting National Roadmap The partnership spans a 36-month roadmap split into three phases, where K2 Integrity will perform the following strategic tasks. • Evaluate and transform Qi's current financial crime compliance (FCC) framework. • Train Qi's personnel across all levels from frontline staff to executive leadership. • Take operational responsibility for implementing globally benchmarked compliance practices. • Transition the program into a sustainable, best-in-class model eventually managed by Qi. What distinguishes this initiative is its national impact. Qi is Iraq's largest electronic payment platform, serving millions of customers and integrating with the central government, major banks, and global payment networks. The compliance infrastructure built with K2 Integrity for Qi will ripple across the country's financial ecosystem, influencing how banks, the fintech sector, and regulators approach risk, governance, and trust. Bringing Global Expertise to Iraq The New York-based K2 Integrity brings decades of experience advising the U.S. government, international institutions, and Fortune 500 banks. Its team includes former senior U.S. Treasury officials who helped craft counter-illicit finance strategies and global standards. K2 Integrity's entry in Iraq signals confidence in Iraq's financial reform trajectory. 'Qi is setting the tone for a new era in Iraq,' said Chip Poncy, Global Head of Financial Integrity at K2 Integrity. 'By committing to global standards and transparency, Qi is building not just resilience, but regional leadership in financial compliance.' Reclaiming Iraq's Financial Legacy This initiative marks a pivotal milestone in Iraq's compliance evolution—strengthening national capabilities and building a foundation for secure, scalable financial growth. It positions Iraq to regain credibility with international partners, attract investment, and enable more secure, scalable cross-border transactions, particularly vital for trade, remittances, and financial inclusion. About Qi: Qi, also known as the International Smart Card or Qi Card, is Iraq's leading digital payment platform, serving over 10 million customers through a unified ecosystem of cards, mobile wallets, merchant services, and government integrations. With a mission to empower the Iraqi economy through transparency, innovation, and financial inclusion, Qi continues to lead Iraq's digital transformation journey. About K2 Integrity: K2 Integrity is a global leader in risk advisory, compliance, and investigations. With a legacy of shaping financial integrity standards and advising on complex cross-border regulatory issues, K2 Integrity empowers institutions worldwide to navigate risk and drive trust.
