Published by Coinaute
French and Arabic versions available
Wecan Group is a Swiss company specializing in blockchain-based solutions for improving data trust and quality. It offers two main services:
- Wecan Comply: A data manager based on the blockchain, used by over 100 financial institutions to improve data compliance and security.
- Wecan Connect: A blockchain-secured chat app for professionals, ensuring confidential and protected communications.
New bank in the network
Arab Bank Switzerland (ABS) joined the Wecan Group network last month and will now use its “Comply” platform to secure the storage, collection and sharing of compliance data for independent asset managers. This initiative aims at improving onboarding, monitoring and auditing processes. In addition, the platform will enable ABS to efficiently integrate counterparties from the crypto ecosystem.
This collaboration will not only optimize compliance processes and facilitate relationships with financial intermediaries, hallmarks of the Wecan Group, but it will also offer promising opportunities to extend the traditional boundaries of banking management.
Furthermore, this new association demonstrates the legitimacy and expertise of Wecan Group in the field of digital assets.
Rani Jabban, Managing Director of ABS, stated that “Wecan’s expertise in blockchain technology and digital solutions will optimize and simplify Arab Bank Switzerland’s onboarding processes for our new customers and partners.”
You can access the Wecan Group press release via this link.
What is Arab Bank Switzerland?
Arab Bank Switzerland is a Swiss private bank offering a wide range of financial services. Founded in 1962, it is a subsidiary of Arab Bank Group, one of the largest financial institutions in the Arab world. It specializes in wealth management, private banking, investment solutions and asset management advice. Its customers are mainly located in the Middle East, North Africa and Europe. Nowadays, the bank is a key player in the financial sector, combining local expertise with an international outlook.
ABS is also at the forefront of digital solutions. In 2019, it introduced digital asset custody and trading services. In 2022, it extended its offering to NFTs with the launch of an onchain digital art collection and the organization of the world’s first prize dedicated to digital art. These initiatives strengthen its portfolio of services and confirm its leading position among private banks using new technologies.
Other news and updates
Wecan Group has recently known a number of other changes and developments, including:
- An improvement
- A reward
- New employees
- Job offers
Improvement for Wecan Comply
Wecan Group has developed a revolutionary blockchain-based solution for Know Your Customer (KYC) processes. It currently used by 13 banks and over 100 financial intermediaries. This technology significantly improves the efficiency, security and traceability of KYC data, reducing associated costs by up to 90%.
In a YouTube video, Wecan Comply presents a blockchain-based solution for KYC (Know Your Customer) and KYB (Know Your Business) processes. The platform enables financial institutions to securely manage and share customer and business data, improving efficiency and compliance. It facilitates the updating of information and reduces costs by automating repetitive tasks, while guaranteeing security and confidentiality thanks to blockchain technology.
New award
In 2024, Wecan Group was honored at the Global Private Banker Innovation Awards in the “Best Private Bank Technology Partner” category. This distinction, awarded after rigorous evaluation by the prestigious jury and advisors, recognizes its blockchain-based solutions for their significant impact on the security of private banks’ digital identity. The jury also praised the company for its effectiveness in managing digital identity security and reducing cyber risks across the KYC and KYB value chain.
New members at Wecan Group
Wecan recently welcomed Maartje Spoorenberg as its new Customer Engagement Lead. With over 15 years’ experience in the financial sector, Maartje Spoorenberg brings valuable expertise in managing customer satisfaction and loyalty. Thanks to her, the company hopes to strengthen its services offer.
Marc Brown has also joined the team as Head of Innovation. With a PhD in Computer Sciences and having studied at Berkeley, he was hired for his strong expertise in AI and automated regulatory compliance.
Other job offers are available at Wecan Group, especially in marketing, communications or new technologies (Web3 and blockchain).
An internship offer is currently available here.
What’s next?
Wecan Group has secured significant financing of 3.3 million Swiss francs, including new high-profile investors such as Michel Reybier. This funding is aimed at expanding their operations in Switzerland and internationally. The purpose is to enhance their services offer in various sectors such as hospitality, healthcare and real estate.
