Based on blockchain technology, the solution developed by Swiss fintech Wecan Group facilitates administrative integration with custodian banks.
Geneva-based asset management group NS Partners has integrated the Swiss banking compliance platform Wecan Comply. Based on blockchain technology, the solution developed by Swiss fintech Wecan Group facilitates administrative integration with custodian banks.
Ultra-secure thanks to its blockchain-based technology, the platform simplifies access to data by custodian banks and thus speeds up the various banking operations subject to control. Built as an intelligent digital safe, Wecan Comply allows NS Partners to store the necessary information and legal documents, which custodian banks can access at any time as part of their compliance checks.
“Regulatory requirements are continually increasing in our industry and the ability to meet them efficiently has become a critical success factor. Based in Switzerland, this solution has two major advantages: not only does it greatly reduce our administrative burden, but more importantly it ensures the integrity and security of the information. But technology is not an end in itself: it is only a means to better serve our clients,” said Maya Page-Feuz, who heads the group’s Legal & Compliance department.
“The integration with the Wecan Comply platform is part of the digital transformation process we started several years ago. Whether it is in terms of data architecture, information security, business process automation, decision support, risk management or client interface, technological innovation is now a critical element to ensure the future growth of a management company such as ours,” added Christophe Verbaere, Group Chief Operating Officer.
“Wecan Comply offers new opportunities for banks and independent asset managers and is rapidly becoming a standard in Switzerland,” said Vincent Pignon, founder and CEO of Wecan Group. “Blockchain technology has the potential to transform the way compliance is managed, with simpler procedures, greater security and the ability to perform real-time audits.”