“By joining Wecan Comply we will be able to gain efficiency with independent asset managers”, says Marc-Henri Balma Chief Operating Officer at Cramer.
Wecan Comply is aimed at banks and independent asset managers in order to simplify the exchange of information related to banking compliance in an ultra-secure manner. The project is developed by Wecan Group, the Swiss blockchain venture builder.
Cramer Bank today announced that it is joining the first global compliance platform for private banks and independent asset managers based on the blockchain.
“We have been facilitating wealth management since the 18th century. Today, we have to meet increasing demands and we believe that technology and innovation must be part of this process. By joining Wecan Comply, we will be able to gain efficiency by making our exchanges with independent asset managers more fluid. In addition to this gain, we are delighted to be part of the first steps towards tomorrow’s banking exchanges today”, says Marc-Henri Balma, Chief Operating Officer at Cramer.
Last month Wecan Group announced the official launch of this compliance solution in partnership with major banks in the Swiss financial centre. Based on the blockchain, the platform is the result of a full year of collaboration between a panel of financial players. The Wecan Comply solution can be compared to a kind of smart safe that allows banks and asset managers to store their compliance documents in an ultra-secure way in one and the same place – but allowing access to selected people and selected documents.
The sharing of structured information between custodian banks and independent asset managers is the first step in an ambitious project.
The next step is to expand the ecosystem to establish links with other registers that will allow data updates and facilitate information exchange. Thus the sharing of information with all partners in the value chain such as insurers, supervisory bodies, auditors, and all other stakeholders will reveal the true potential of Wecan Comply whose vocation is to revolutionise all exchanges in the world of compliance.