InCoSe launches in Sri Lanka

Compliance is an imperative topic in developed markets and a fast-spreading and essential subject matter in modern-day emerging markets. Compliance monitoring and adherence are mandatory tasks in many industries regardless whether a business is in the sector of product manufacturing or service delivery. It is important to assure that the business follows external rules and internal controls to keep disciplines and to reach out to the commercial objectives.

In the financial services sector, compliance departments work together to meet key regulatory objectives to protect investors and ensure that markets are fair, efficient and transparent. Sri Lanka is experiencing an economic crisis at present; compliance in an organisation is more vital than before not only to tick the regulatory check-boxes but also to win the trust of its clients which is much needed in today’s business world. 

International Compliance Services (Ltd.) (InCoSe) was proudly established in July 2021 as a fully-owned local entity located in Dehiwala, Sri Lanka to provide a large spectrum of compliance services to Sri Lankan and international financial markets. The InCoSe is unique in two aspects; one is being the 1st specialised entity formed in Sri Lanka to provide services to financial markets and secondarily, it has a limited focus only to render services under the scope of compliance and risk management. The vision of the company is to turn compliance obstacles into business opportunities by effectively guiding you on the regulatory requirements and harvesting ethics in your organisation in becoming a trusted name in the financial compliance industry.

InCoSe is keen on providing a wide range of products and services including client onboarding, KYC handling, screening, Anti-Money Laundering (AML/CFT), writing of policies and procedures, conducting risk assessments, training, compliance audits as well as providing compliance consultation services on regulatory and compliance matters. The company also extends a unique advisory service on business expansion strategies that will help its clients to expand their network and grow their business locally as well as internationally. The company has representatives in the Middle East, UK and Australian regions who can deliver comprehensive B2B license services. These services include advising on forming new branches, and companies, applying for new licenses, meeting regulatory requirements, arranging labour requirements including work permits/visas and setting up bank accounts to assist business operations. 

The target audience of the company includes banks, money exchanges, insurance sector entities, finance companies, stock brokers, clearing houses, financial product manufacturers and fund managers. The company does not provide a one-size-fits-all solution. Instead, it offers analysed and personalised resolutions with long-term care to meet the individual requirements of our clientele focusing on the growth of their business.  

The entity comprises an experienced and skilful team headed by Ruchika Athukorala, CEO of the company who is qualified and has over 18 years of experience in financial and regulatory compliance both in local and international markets. He is a postgraduate from the University of Moratuwa and holds many relevant qualifications including CAMS, CII, CISI and ICA. Akila Atapattu serves as a Senior Risk and Compliance Manager. He possesses specialist knowledge in regulatory compliance and non-financial risk management in the banking and professional services sectors in Australia and Sri Lanka. Akila is a Chartered FCSI-UK, CAMS and an LLM (Sp) in banking and finance law. 

Indrani Karunagoda serves as a Director in charge of governance and statutory relationships. Hemalatha Karunagoda serves as the Director in charge of projects and ISO certification. Dilrukshi Kannangara serves in a vital role as an Assistant Compliance Analyst who is committed to extending quality service to their clients and as the main point of contact.

InCoSe is a new concept company with the aim to improve compliance in your business and to provide a stress-free culture with high-quality services to real-world businesses today. The company has sophisticated, highly secured and approved IT technology to work remotely. All those systems have licenses and regulatory-approved certificates such as to obtain digital signatures. The company’s ESG policy supports green environment concepts and aims to minimise paper utilisation at least by 90%. Fintech and remotely will substantially reduce costs and the benefit has been passed down to the clients as economical pricing. For more information, please visit the company website – www.incoseworldwide.com.