Banque Heritage joins Wecan Comply’s blockchain based compliance platform and aims to create a digital ecosystem for its EAMs.
Banque Heritage has joined Swiss fintech Wecan Comply’s compliance platform that is predicted to revolutionize the compliance procedures in Swiss banking. The increasing regulatory requirements in the banking environment have left many asset managers facing two problems: compliance demands reaching critical levels while at the same time fighting to improve efficiency when it comes to exchanging client documentation with their custodian banks. Banque Heritage is helping its External Asset Managers by providing them the platform that serves both sides best. All aspects, from data security to administration and on demand access are improved.
Luciano Ciriolo, Head EAM Team Geneva: “We are fully aware of the regulatory challenges faced by independent asset managers, as we are in constant exchange with them. In the age of digitalization and blockchain, we see the partnership with Wecan Comply as the perfect platform for our EAMs to facilitate their process, but also simplify and reduce their compliance workload. They will be able to focus more on their primary objective: The Clients.”
Eugen Koch, Head EAM Team Zurich: “The safe and convenient exchange of compliance related documents and information benefits all: the individual client, their independent asset manager, us as custodian bank and even the auditor and regulator.”
The platform is not only aiming at EAMs and custodian banks, but also trustees and even any entity involved in handling a client’s KYC.
“Through our ambition to provide our partners with added value, we constantly build on solutions and expand services for our business partners. As their custodian bank we are enablers in the ecosystem of Swiss Private Banking, thriving to be the first choice for national and international clients seeking the best service providers.” says Michael Welti, Head of Private Banking, adding “This new way of exchanging compliance relevant documentation will definitely become the standard in Switzerland.”
Vincent Pignon, founder and CEO of the Wecan Group summarizes: “Blockchain technology has the potential to transform the way compliance is managed, with simpler procedures, higher security and real-time auditability. We are excited to welcome Banque Heritage as partner on the platform and we are confident their clients and business partners will benefit greatly.”