The solution will enable the leading Swiss wealth management group with a dedicated intermediaries business to simplify the exchange of information with its independent asset managers in Switzerland and to receive compliance documents in an ultra-secure manner. This solution is developed by the Swiss fintech Wecan Group, a recognized expert in blockchain technologies.
Switzerland as a key player in the construction of the best regulatory standards
Bank Julius Baer joins Wecan Comply, the world’s first blockchain-based compliance platform for private banks and external asset managers. Wecan Comply is built like a digital vault. The platform runs on a simple web browser and only requires access to the Internet.
As a private bank with a strong entrepreneurial spirit, we are committed to empowering the success of our clients and partners through innovative solutions. We can unequivocally identify with the vision of Wecan Comply and are excited to join the growing community to create value for our intermediary partners in Switzerland, facilitating efficiency gains via pioneering co-creation.
Head Intermediaries German-speaking Switzerland
With the entry into force of the FinIA and FinSA laws on January 1, 2020, external asset managers and trustees are no longer supervised by banks, but also by supervisory bodies. The procedures for identifying, controlling and monitoring client relationships are becoming increasingly complex. Measures must be put in place to avoid the increasingly time-consuming duplication of the same tasks.
The result of two years of collaboration between a panel of major financial players, Wecan Comply has been built to best address the compliance challenges of today and tomorrow. The swiss-made solution meets two expectations: to prevent compliance and administrative work from overwhelming the day-to-day activities of asset managers, and to ensure that specific tasks are carried out correctly and reliably, while complying with new regulations.
With the arrival of Julius Baer, Wecan Comply confirms its national presence in both the German and French-speaking parts of Switzerland.
“The collaboration with Bank Julius Baer is a demonstration that Wecan Comply is the gold standard, for the industry, to pool resources and guarantee the best compliance requirements. It is a great pride for Wecan Group and we are pleased that the bank also joins the Board of the Blockchain Association for Finance, which governs the development of Wecan Comply.”
Vincent Pignon, Founder and CEO Wecan Group