Fintech Schweiz Digital Finance News – FintechNewsCH http://fintechnews.ch Thu, 27 Jun 2019 04:16:19 +0000 en-US hourly 1 AXA Beteiligt sich an den Startups Accounto und Swibeco http://fintechnews.ch/fintech/axa-beteiligung-accounto-und-swibeco/28946/ Thu, 27 Jun 2019 04:15:46 +0000 http://fintechnews.ch/?p=28946 Die AXA arbeitet mit verschiedenen Startups zusammen, um Kundenbedürfnisse über den klassischen Versicherungsbereich hinaus zu bedienen. Nun beteiligt sich der grösste Schweizer Versicherer an Accounto und Swibeco, zwei Startups, die

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Die AXA arbeitet mit verschiedenen Startups zusammen, um Kundenbedürfnisse über den klassischen Versicherungsbereich hinaus zu bedienen. Nun beteiligt sich der grösste Schweizer Versicherer an Accounto und Swibeco, zwei Startups, die innovative Lösungen für KMU anbieten.

Die AXA investiert gezielt in neue Geschäftsmodelle und Startups, um ihren Kunden innovative Services über den klassischen Versicherungsschutz hinaus zu bieten. Neu spannt die AXA mit Accounto und Swibeco zusammen, die mit innovativen Lösungen KMU in deren Geschäftsalltag unterstützen. Über die finanziellen Rahmenbedingungen haben die Partner Stillschweigen vereinbart.

Entlastung in der Administration

Gerade die Buchhaltungsadministration ist für viele Firmeninhaber ein notwendiges Übel, das sie viel Zeit und Energie kostet – Zeit, die sie lieber in ihr Kerngeschäft und ihre Kundenbeziehungen investieren würden.

Das Schweizer Start-up Accounto nimmt den KMU diese Bürde ab: Dank der innovativen Online-Buchhaltungsplattform können Belege vollautomatisch erfasst werden. Sie werden fotografiert und einfach und bequem an Accounto gesendet, wo sie dank neuer Technologie automatisch verarbeitet und verbucht werden. In der Online-Plattform haben KMU jederzeit volle Transparenz über ihre Buchhaltung. So sparen Firmeninhaber Zeit und Nerven, die sie für anderes nutzen können.

Alain Veuve

Alain Veuve

«KMU hegten lange den Traum vom Ende der Buchhaltungsarbeit. Wir lassen diesen Traum Wirklichkeit werden»,

sagt Alain Veuve, Gründer und Leiter von Accounto. Weitere Dienstleistungen, welche die Administration für die KMU vereinfachen sollen, sind bereits in Arbeit. Zudem wird Accounto auch ihr Produkt für Treuhänder, das die Zusammenarbeit mit KMU-Kunden vereinfacht, weiterentwickeln.

 

Unterstützung in der Personalführung

Neben der Administration will die AXA künftig auch bei der Mitarbeiterführung verstärkt zur Seite stehen. Swibeco hilft KMU dabei, sich als attraktive Arbeitgeber zu positionieren und ist insbesondere auf Vorteilsprogramme und steuerfreie Benefits spezialisiert – ein Bereich, der für viele KMU selber schwierig umzusetzen ist. Swibeco bietet den KMU eine digitale Plattform für Lohnnebenleistungen und Vorzugsangebote, die KMU für ihre Angestellten nutzen und so deren Kaufkraft erhöhen können.

Thomas Gerber

Thomas Gerber

«Die Mitarbeitenden sind das wichtigste Asset einer Firma. Daher wollen wir KMU dabei unterstützen, gesunde und motivierte Mitarbeitende zu erhalten»,

sagt Thomas Gerber, Leiter Vorsorge bei der AXA Schweiz.

«Dies ist ein wichtiger Schritt in unserer Entwicklung. Mit AXA haben wir einen strategischen Partner gefunden, mit dem wir Werte und eine gemeinsame Vision für die Zukunft der KMU und ihre Mitarbeitenden teilen»,

sagt Ivan Brustlein, Gründer und Leiter von Swibeco.

Die Beteiligungen an Accounto und Swibeco sind ein weiterer Schritt der AXA, ihre Vision «From Payer to Partner» umzusetzen. «Wir setzen auf Start-ups, die mit neuen technologischen Möglichkeiten und innovativen Ideen einen echten Mehrwert für unsere Kundinnen und Kunden schaffen», so Gerber.

Michael Manz (AXA), Alessandro Pian (Swibeco), Nick Kasper (AXA), Ivan Brustlein (Swibeco)

Featured image credit: Nick Kasper (AXA), Alain Veuve (Accounto), Michael Manz (AXA), Alessandro Micera (Accounto), Alexander Hasler (AXA)

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Mt Pelerin’s New Platform Aims To Help Startups Launch a Security Tokens http://fintechnews.ch/blockchain_bitcoin/mt-pelerin-security-token-company-ipo-fundraising/28915/ Tue, 25 Jun 2019 09:07:22 +0000 http://fintechnews.ch/?p=28915 Mt Pelerin, a Swiss blockchain company specialising in banking and finance, has announced the launch of a one-stop shop service to help startups and businesses raise funds with of security

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Mt Pelerin, a Swiss blockchain company specialising in banking and finance, has announced the launch of a one-stop shop service to help startups and businesses raise funds with of security tokens.

The company looks to allow for fundraising by offering equity or bonds incorporated into a security token, and then geared directly to the public, while still retaining traditional investors’ interests.

The new tool should allow companies of any size access to fundraising methods like IPOs, and they claim to do so without significant entry barriers. The idea is to democratise and boost liquidity of similar investments.

Mt Pelerin said that they will also provide support on the technical, financial and compliance aspects. In fact, Mt Pelerin themselves created and sold their first tokenised share last October, which provides direct ownership to the Mt Pelerin Group SA entity. The company sold 5% of its equity, without intermediaries, to hundreds of investors around the world and raised US$2.15 million in the process.

Arnaud Salomon, the founder and CEO of Mt Pelerin said:

Arnaud Salomon

Arnaud Salomon

“Our purpose is to serve startups and SMEs with a comprehensive and professional tokenization technology easily and at a low cost.”

“In addition to the technical aspects of security tokenization, we are able to conduct KYC/AML on behalf of our clients and offer fiat escrow accounts.”

 

 

The goal of this service is to help companies focus on their fund raising and relieve them from all the other tasks for which they don’t have the necessary time or technical capabilities.

Mt Pelerin’s technology uses an approach based on compliance (account opening, MiFID II, etc.) as well as anti-money laundering regulations. The claim is that the platform can dynamically enforce transferability restriction rules triggered by a rule engine, over multiple possessions, allowing the application of relevant regulations.

Mt Pelerin does so through an open-source compliant tokenisation framework designed to adapt to constantly evolving laws, as well as multiple jurisdictions.

Mt Pelerin is also working on obtaining a banking license in Switzerland.

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The Fintech Awards Highlight Luxembourg’s Standing as Model Digital Nation http://fintechnews.ch/fintech/the-fintech-awards-highlight-luxembourgs-standing-as-model-digital-nation/28896/ Mon, 24 Jun 2019 06:59:20 +0000 http://fintechnews.ch/?p=28896 The winner of this year’s Fintech Awards Luxembourg is Tokeny, a fintech startup from Luxembourg in alternative finance, followed by runners up OKO (Israel) and Uniken (USA). The Lighthouse Award,

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The winner of this year’s Fintech Awards Luxembourg is Tokeny, a fintech startup from Luxembourg in alternative finance, followed by runners up OKO (Israel) and Uniken (USA).

The Lighthouse Award, given to the startup that best harnesses data-driven technology, went to DreamQuark (France) for its use of artificial intelligence. This fourth edition of the competition was held on 19 June 2019, at KPMG Luxembourg’s headquarters.

Simon Kramaric, Mathieu Cottin and Joachim Lebrun from Tokeny, image via Tokeny

Out of 194 initial applicants to the Awards, which spanned more than 30 countries, 20 semi-finalists were invited to Luxembourg to compete at the event. Of these, eight were Regtech startups, showing the continuing demand for regulatory services, while insurtech, wealth management, robo-advisors, and other sub-sectors were also represented.

Pascal Denis, Chair of the jury and Head of Advisory at KPMG Luxembourg, discussed the importance of maturing technology in the current fintech scene:

Pascal Denis

Pascal Denis

“In an area as rapidly evolving as fintech, startups need to be agile and resolute in their commitment to developing trusted cutting-edge technology. Our crop of startups this year perfectly exemplified this mindset and their technical knowledge, innovative methodologies and entrepreneurial spirit truly inspired us as a jury. I was eager to hear from startups in contention for the new Lighthouse award which recognized companies using data-driven technology, and I was not disappointed. The excellent results being produced in this area throw a promising spotlight on the maturity of AI and how it can shape the future of finance”.

Nasir Zubairi, CEO of the Luxembourg House of Financial Technology, commented:

Nasir Zubairi

Nasir Zubairi

“The 10 Finalists were fantastics – an incredibly strong field of competition all with solutions that could provide real positive impact to Luxembourg institutions. To choose the winner was a difficult process, but we are thrilled to see two LHoFT residents Tokeny and OKO who received the top prizes, demonstrating how local Luxembourg solutions are becoming more robust and relevant.”

Jury head Pascal Denis was joined by six other jurists: Frederic Becker, Fintech advisor at Ministère de l’Economie; Ghela Boskovich, Head of Fintech/Regtech Partnerships at Rainmaking Innovation; Cristina Ferreira, Head Regulatory Solutions & Innovation at State Street; Luc Frieden, Lawyer at Elvinger Hoss and former Finance Minister of Luxembourg; Pedro Penedo, Partner at KPMG Portugal and Member of the Global Lighthouse Leadership Team; and Nasir Zubairi, CEO of the LHoFT.

After an hour of deliberation, the jury made their decisions:

tokenyFintech Startup of the Year: Tokeny won €50,000 in start-up money, a free LHoFT membership (+3 months’ hosting), and 10 hours’ free consulting from KPMG.

OkoRunner-up: OKO won 5 months’ hosting at the Technoport in Luxembourg.

Second Runner-up: Uniken won an advertisement by Maison Moderne.

DreamQuarkLighthouse Award: DreamQuark won 10 hours of KPMG consulting.

The Fintech Awards represents a coming together of the most important parties of Luxembourg’s ecosystem, including the government, established financial firms, advisors, and of course the disruptive startups themselves. Out of this exciting nebula should emerge ideas and relationships that will further secure the country’s reputation as an innovative leader in finance.

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Online Invoicing and Accounting Solutions for Self-Employed and SMEs in Switzerland http://fintechnews.ch/fintech/online-invoicing-accounting-solutions-self-employed-smes-switzerland/10763/ Sat, 22 Jun 2019 23:05:34 +0000 http://fintechnews.ch/?p=10763 In the traditional business model, invoices are created at the end of each billing period, then printed, put in an envelope and mailed to the customers. However, there are several

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In the traditional business model, invoices are created at the end of each billing period, then printed, put in an envelope and mailed to the customers. However, there are several problems and drawbacks with this method including the fact that it is time-consuming, subject to human error and highly inefficient. Not to mention the risk of your invoice getting lost in the mail.

Electronic invoice, or e-invoicing, solves these problems, making it much faster and easier to send out invoices and track them. Furthermore, online billing can significantly reduce costs and speed up payments.

The online invoicing and accounting industry already counts a number of success stories. Xero, a leading cloud accounting company based in New Zealand, has recently passed its million-customer milestone. Founded in 2006, the firm develops accounting software for small and medium-sized enterprises, and is listed on both the New Zealand Exchange and Australian Securities Exchange.

In Switzerland, several companies have emerged in recent years to provide freelancers, self-employed and smaller businesses with affordable and efficient online invoicing and accounting software. Today, we look at some of the solutions and providers in Switzerland.

 

Abrechnungen.ch

Abrechnungen.ch offers affordable accounting and fiduciary services to self-employed and small and medium-sized enterprises with up to 20 employees.

Customers simply need to send their supporting documents every month including all their receipts, invoices, expenses receipts, etc by mail or by email. The company then carries out the accounting and sends back a monthly analysis as well as balance sheet, income statement and cash flow statement. At the beginning of the year, clients receive the complete bookkeeping for tax return.

Accounto

accountoAccounto Technology operates a new and innovative online accounting platform that leverages machine learning, self-recognition and advanced accounting processes to enable a high level automation.

The platform processes paper-based and PDF documents which are then handled by the Machine Learning application.

Accounto focuses on providing customers with a simple, intuitive and all-inclusive solution to businesses.

 

bexio

bexioFounded in 2013, bexio is a Zurich-based startup that develops and sells software for small and medium-sized companies. In particular, bexio offers cloud-based business and accounting software solutions, allowing companies to manage their customers, write quotes and invoice, and more.

bexio serves over 8,000 businesses, startups and self-employed individuals. Packages start at CHF 29/month and can do up to CHF 54/month.

The company was named the Best Software Startup in 2016, as well as the SFS Startup of the Month in August 2016.

 

CashCtrl

CashCtrlCashCtrl is an online business management and accounting software for small and medium-sized enterprises, accountants and freelancers developed and operated by Swiss company Repix Ltd.

The solution aims to provide a clear, intuitive, well-arranged and tidy user interface that is easy to use. Clients can create invoices with their own logo and articles from the inventory. The platform allows double-entry bookkeeping and comes with an address book. It also provides real-time reports.

CashCtrl offers a free package and a pro (premium) option with additional features and functionalities. The pro version costs CHF 290 a year.

Run my Accounts

Run-my-AccountsFounded in 2008, Run my Accounts focuses on providing simple, efficient and comprehensive accounting software to small and medium-sized businesses and startups in Switzerland.

It offers customers a very simple process to manage their accounts. They simply need to scan documents and trigger the payment the next day in e-banking. Its online accounting system gives daily insights into their figures. Packages start at CHF 9.90 per user per month for its online software. Run my Accounts also provides accounting, bookkeepping and other related services.

Run my accounts claims to serve 10 of the top 100 Swiss startups.

 

Smallinvoice

smallinvoiceSmallinvoice, a service of Lourens Systems, is an online software for invoicing, payables, project management and time reporting. It was specifically designed for optimal use in Switzerland.

Smallinvoice offers integration with services such as Postfinance PSP, E-Invoice, Paypal, and more. It requires no installation or maintenance and works completely inside the browser. Customers can customize layouts using their logo and branding and create documents in four different languages: French, Italian, German and English.

Packages start at CHF 0 per month for occasional invoicing and for one user only, and go up to CHF 45/month for up to five users and additional functionalities.

 

Z-Rechnung

Z-RechnungZ-Rechnung provides automated invoice processing for small and medium-sized enterprises, freelancers and startups. The solution can be used online or in combination with an existing ERP.

Z-Rechnung lets customers create, send, receive and process structured electronic invoices. The platform integrates several payments options including SEPA, credit card and Paypal. The basic package is free of charge. The monthly plan can go up to 1,500 EUR for larger scale businesses.

 

Featured Picture via Xero.com

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Regtech in Europe: Regtech 3.0 Solutions and more http://fintechnews.ch/regtech/regtech-in-europe-regtech-3-0-solutions-and-more/28626/ Fri, 21 Jun 2019 05:57:18 +0000 http://fintechnews.ch/?p=28626 Regtech, a term that refers to the use of technology such as advanced analytics, robotic process automation, cognitive computing and cloud computing, to help financial services firms get better at

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Regtech, a term that refers to the use of technology such as advanced analytics, robotic process automation, cognitive computing and cloud computing, to help financial services firms get better at dealing with regulation, is one of the fastest-growing segments of fintech and financial innovation.

In our recent report, we forecast that regtech spending by 2022 will reach US$76 billion from US$10.6 billion in 2017 and that by 2020 RegTech is expected to make up 34% of all regulatory spendings.

regtech europe

KPMG Study: “By 2020 RegTech is expected to make up 34% of all regulatory spending.”

In recent years, regtech has emerged as a key element of financial institutions’ drive towards digital transformation. And there are many reasons why European financial institutions are flocking into regtech.

First, European banks are operating in a very dense, fast-changing and highly complex regulatory environment. With the numerous new and impending regulations in Europe, including the Revised Payments Services Directive (PSD2), the revised Markets in Financial Instruments Directive (MiFID II), and the General Data Protection Regulation (GDPR), among others, it comes with little surprise that the region has been quick to emerge as a hotbed for regtech innovation.

New Regulation needs Regtech 3.0

Second, dealing with regulation and compliance is very expensive. The last ten years have seen a 500% increase in regulatory changes in developed markets. A BBVA research estimates financial institutions now allocate around 10-15% of their total workforce to governance, risk management and compliance, and a research report published in 2017 claimed that regulators in the US and Europe have imposed US$342 billion of fines on banks since 2009 for misconduct. This number is likely to top US$400 billion by 2020.

from Regtech 1.0 to Regtech 3.0

from Regtech 1.0 to Regtech 3.0

For financial institutions, regtech promises to strengthen compliance and mitigate risk, reduce the fixed cost of compliance, increase efficiency and improve protection for customers. And through direct improvements and freeing resources, regtech has also the potential to provide valuable business insight, provide customers with better and faster service and drive new products and services.

In Europe today, regtech companies are already using artificial intelligence (AI), machine learning (ML), cloud technologies and blockchain. They operate across various subcategories such as identity management and control, regulatory reporting, risk data management (RDM), compliance management, and automation, just to name a few.

Notable European Regtech players/solutions (Examples)

I was able to select some regtech solution providers with the help of matchmaking experts in KPMG’s Matchi: a global platform that connects financial institutions (and other large companies) with emerging technology solutions and innovators worldwide.

Suade (UK)- Reporting

Launched in 2014 and based in London, Suade provides a “regulation-as-a-service” open platform that automates the process for banks around the world to meet their reporting requirements, making it much more efficient and cost-effective.

The Suade platform helps banks analyze their own practices, then modifies them to comply with complex and changing regulatory requirements.

 

Privitar (UK)- Privacy protection

Established in 2014, Privitar provides data-privacy software to companies and public sector organizations around the world to protect sensitive data and enable ethical data analysis. Privitar’s software accelerates and automates the provision of privacy-preserving data, helping customers extract more business value from their data, generate data-driven insights, and drive innovation.

Privitar is headquartered in London and offices in New York, Boston, Singapore and Paris. The company is backed by Partech Ventures, Salesforce Ventures, IQ Capital, 24Haymarket, Illuminate Financial, and Citi.

 

ComplyAdvantage (UK) – AML Compliance

Founded in 2014, ComplyAdvantage provides firms with data intelligence, helping them understand the risk of who they’re doing business with, while automating compliance and risk processes.

ComplyAdvantage take a new approach to building financial crime data by providing real-time insight into the risk of people and companies globally. The company’s technology allows them to spot tens of thousands of risk events from within millions of structured and unstructured data sources, every day.

ComplyAdvantage serves more than 350 clients across 45 countries and with a team of 160 people across regional hubs in London, New York, Singapore and Cluj.

 

Onfido (UK) – KYC, Document verification

Founded in 2012, Onfido is building the new identity standard for the Internet. The company’s AI-based technology assesses whether a user’s government-issued ID is genuine or fraudulent, and then compares it against their facial biometrics. The solution is used by the likes of Revolut, Zipcar and Bitstamp.

Onfido is backed by Salesforce Ventures, SBI Investment, M12 (formerly Microsoft Ventures), as well as angels including Brent Hoberman, co-founder of lastminute.com, Taavet Hinrikus, co-founder of Transferwise, and Nicolas Brusson, co-founder of BlaBlaCar. The company has offices in London, San Francisco, New York, Lisbon, Paris, New Delhi and Singapore.

 

AQmetrics (UK)- Risk Management/Reporting

Established in Ireland in 2012, AQMetrics offers a full risk management and regulatory reporting platform. The company leverages the latest cloud computing and big data analytics technology to deliver an ultra-fast, high quality cloud-based platform that saves its clients time and money. AQMetrics serves billion-dollar hedge funds, alternative investment managers, MiFID firms, asset servicing providers, fund administrators, and banks.

 

Governance.com (Luxembourg)- Data and Process Mgt

Governance.com is a Luxembourg-based regtech created in 2011. The startup provides a platform that helps regulated companies with data, document and process management.

The platform connects data and documents across the organization and presents it in simple report, automated processes and understandable dashboards. The solution gives a transparent view on complex data structures and ensures that controls and decisions are taken appropriately.

 

NetGuardians (Switzerland)- AI Fraud protection

NetGuardians is an award-winning Swiss regtech established in 2007. NetGuardians has developed an AI solution for banks to proactively prevent fraud. The solution integrates an organization’s existing network security programs and operating systems, and collects its data in real-time, correlates, and filters the data into a central control console to discover attacks, policy violations and strange behaviors on IT infrastructure.

The company serves more than 50 Tier 1 to Tier 3 banks worldwide fight financial crime.

 

Apiax (Switzerland)- Digital transaction tools

Apiax is a Swiss regtech startup headquartered in Zurich with offices in Lisbon and London. The company builds tools to master complex financial regulations digitally. It focuses on giving financial institutions access to machine-readable rules on the most pressing regulatory topics and allow them to customize, manage and deploy these rules effortlessly.

The company’s technology provides full transparency and control over rules in action and empowers financial institutions to serve their clients more efficiently.

 

Finform (Switzerland) – Compliance Solution

Swiss regtech company Finform specializes in standardizing, industrializing and digitalizing compliance formalities.

Finform’s solution can be used on all sales channels, whether that’s front end, mobile or online. A standardized and digitalized process across all sales channels allows for an accelerated on-boarding process, opening up new sales opportunities. Technical progress and new regulatory requirements are implemented automatically.

 

ClauseMatch (UK) – Regulatory Change Mgt

ClauseMatch enables financial institutions to streamline regulatory change management through effective organization of internal policies, standards, procedures, and controls.

The company is actively applying AI and ML capabilities allowing financial institutions to evidence compliance with regulatory obligations and apply them within governance documents with full audit trail and real-time collaboration. ClauseMatch headquarters is located at Canary Wharf, London’s financial district and serves clients such as Barclays or Revolut.

 

regulatory fintech solutions

Source: KPMG Study

 

Featured image credit: Edited from Freepik

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PwC Launches Solution Supporting Audit of Cryptocurrencies http://fintechnews.ch/blockchain_bitcoin/pwc-launches-solution-supporting-audit-of-cryptocurrencies/28844/ Fri, 21 Jun 2019 04:56:45 +0000 http://fintechnews.ch/?p=28844 PwC launches a new software tool to provide audit and other assurance services to clients holding or transacting in cryptocurrency. In an environment where robust controls have been proven effective

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PwC launches a new software tool to provide audit and other assurance services to clients holding or transacting in cryptocurrency.

In an environment where robust controls have been proven effective throughout a business’ cryptocurrency activities, PWC’s Halo solution can:

  1. provide independent, substantive evidence of the “private key and public address pairing” which is one of the pieces needed to establish ownership of cryptocurrency
  2. securely interrogate the blockchain to independently and reliably gather corroborating information about blockchain transactions and balances.

PwC has started leveraging its new Halo solution to support audits of clients engaged in cryptocurrency activities. We are also working with companies, for whom we are not the auditor, to help them address the new opportunities and challenges of blockchain and cryptocurrency, including helping them to implement the processes and controls they will require in order to obtain assurance reports from their auditors.

Our ability to audit an entity engaged in cryptocurrency activities is very much influenced by our client’s control environment, and at this stage, by the breadth of tokens supported by our Halo software. These considerations will be key when determining whether we are comfortable to accept an audit engagement.

PwC can currently use this tool to provide assurance services to clients transacting in Bitcoin, Bitcoin Cash, Bitcoin Gold, Bitcoin Diamond, LiteCoin, Ethereum, ERC20 – OAX token, and Ripple (XRP).

James Chalmers

James Chalmers

James Chalmers,  PWC’s Global Assurance Leader, says:

“It is important as companies continue to digitise we, as auditors, keep up with technology changes in the market, continue to develop audit tools that meet the needs of emerging technologies and serve the changing and developing demands of our stakeholders.”

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3 Startups Joined Up to Launch a Swiss Crypto Asset Management Ecosystem http://fintechnews.ch/blockchain_bitcoin/3-startups-joined-up-to-launch-a-swiss-crypto-asset-management-ecosystem/28781/ Fri, 21 Jun 2019 04:25:09 +0000 http://fintechnews.ch/?p=28781 METACO, AlgoTrader and Cysec (formerly ArcaTrust) have banded together to offer an asset management ecosystem specifically for all Swiss-made crypto assets. The ecosystem allows financial institutions to manage these assets

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METACO, AlgoTrader and Cysec (formerly ArcaTrust) have banded together to offer an asset management ecosystem specifically for all Swiss-made crypto assets.

The ecosystem allows financial institutions to manage these assets across an asset’s entire life-cycle, from secure storage and management to automated trading and execution.

The trio wants to build on what they believe to be complementary core competencies of their specific niches—hardware security by Cysec, METACO’s crypto asset storage and management, and finally, AlgoTrader’s automated institutional-grade trading solution, SILO.

The idea is to offer a seamless way to adopt an emerging asset class, and to bridge their traditional and crypto portfolios.

The announcement comes at a time of rapidly increasing institutional interest in digital assets. Financial intermediaries, such as banks, asset managers, and brokers are searching for technology solutions that allow them to safe-keep crypto assets with maximum security. They need to manage them with familiar workflows and front-to-back office functionalities through their current service providers and within their existing systems infrastructure.

Adrien Treccani CEO and Founder of METACO said:

Adrien Treccani

Adrien Treccani

“We are heading towards the tokenization of our economy; ensuring that its foundations are secure and integrated is not an option, it is imperative. “

 

 

 

 

Andy Flury CEO and Founder of AlgoTrader added:

Andy Flury

Andy Flury

”The basis of a great ecosystem is a large opportunity that pushes partners together to pursue the same long-term goals to help institutionalizing the crypto asset industry.”

 

 

 

 

 

Featured image credit: Photo (from left to right): Yacine Felk, COO & Co-Founder (Cysec SA), Patrick Trinkler, CEO & Founder (Cysec SA), Patrick Mehrhoff, CMO (AlgoTrader AG), Seamus Donoghue, VP Business Development (METACO SA), Andy Flury, CEO & Founder (AlgoTrader AG), Lourdes Monso, Marketing Manager (METACO SA), Olivier von Schulthess, Head of Sales EMEA (AlgoTrader AG)

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New Swiss RegTech Startup Map http://fintechnews.ch/infographic/swiss-regtech-startup-map-may-2019/28848/ Thu, 20 Jun 2019 11:00:10 +0000 http://fintechnews.ch/?p=28848 RegTech is a shorthand for regulatory tech, a subset of fintech that focuses on technologies that could help facilitate the delivery of regulatory requirements in a comprehensive and cost-effective way.

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RegTech is a shorthand for regulatory tech, a subset of fintech that focuses on technologies that could help facilitate the delivery of regulatory requirements in a comprehensive and cost-effective way.

The rise of RegTech was only a matter of time, following the traditional difficulty that fintechs have had over the years to stay compliant while remaining fluid and agile in their businesses. After all, compliance is not an option—not after the 2008 financial crisis.

Each quarter, Swisscom teams up with e-foresight to publish a market overview of Swiss RegTech startups with a categorization based on areas of activity.

This quarter two new Regtech Startups joined the map. Skribble and Infinity AG are new on the map since the February update.

swiss-regtech-map-may-2019-1

Authentication

Fidentity

fidentity provides digital identification with seamless user experience. An API enables integration in 3rd party websites, mobile sites, apps or even messengers. Its ease of use leads to minimal acquisition costs.

 

 

 

Biowatch

biowatchBiowatch transforms the user’s wristwatch into a means of identification. A module, which fits  into the strap of any watch, identifies the user  from their unique vein pattern.Watches could  therefore replace passwords, badges and car keys. Biowatch completed a financing round at the beginning of this year and demonstrated a fully functional prototype for the first time in June.

 

 

Futurae

Creating fast, simple and hands-off two-factor user authentication for online applications that require additional security by pairing mobile devices with computers in the vicinity of each other.

 

 

 

Procivis

 

PROCIVIS is a Swiss based start-up offering digital identity solutions and e-government applications and services. Founded in October 2016 by a team of experts in blockchain technology, e-government infrastructure, investment banking as well as by influential academicians, the company aims to spearhead the transition to e-governance in Switzerland and abroad.

 

 

 

OneVisage

OneVisage is a Swiss cyber-security company founded in 2013 with the vision to bring secure and convenient authentication services to mass-markets using standard mobile devices (BYOD).

 

 

 

Synacts

We solve the problem of an increasing amount of data that is created and used by people. Today, this data is locked into silos at companies which leads to unacceptable risks as seen with Equifax and many others but also denies the user to control over what happens with their data.

 

 

Signatys

Signatys is a Swiss company focusing on the quality and security of digital relationships. Signatys offers a new way of exchanging and signing documents based on a level of trust equivalent to an identification made by a bank.

 

 

 

Spitch

SpitchSpitch is a Swiss provider of solutions based on Automatic Speech Recognition (ASR) and voice biometrics, Voice User Interfaces (VUI), and natural language voice data analytics.

 

 

 

Skribble

skribbleSkribble allows you to legally sign PDFs based on the e-signature “QES” – the digital equivalent to the handwritten signature under Swiss and EU law.

 

 

 

 

AML / KYC

FinForm

Finform, a joint venture of Axon Ivy and PostFinance, was founded in June 2016. The company specializes in standardizing, industrializing and digitalizing compliance formalities.

 

 

 

Polixis

polixisPolixis is known to the market as a boutique, best-in-class advisory firm, specializing in the emerging markets Risk & Compliance. With ARDIS that stands for Applied Risk & Data Intelligence Solution, we take this expertise to the next level by blending human expertise with machine intelligence and big data. The result is a unique technological solution that aims to change the way Risk & Compliance teams work on client and transactional due diligence, political and country risk analysis.

 

Chaordic

chaordicChaordic specialise in Client Due Diligence technology which helps financial institutions with AML, CRS & FATCA compliance throughout the client lifecycle.

 

 

 

 

Background Check

SwissMetrics

SwissMetrics provides a collaborative credit risk monitoring platform allowing for companies to monitor the financial health of their customers, suppliers and potential acquisitions.

AvatarChristian KönigChristian Koenig

 

 

Crossborder & Tax Solutions

TaxLevel

TaxLevel “THE NEXT LEVEL IN TAX REPORTING” With TaxLevel we offer professional services for companies and individuals in the field of tax reporting. Our end products support taxable legal or natural persons abroad.

 

 

 

Indigita

indigita is a RegTech company providing banks with digitized regulatory smart data for cross-border banking. It takes the best from its parent companies, BRP and Orbium, experts in regulatory and IT consultancy, to develop the perfect solution to meet the ever-changing cross-border regulatory challenges.

 

 

 

Confinale

Confinale is a consultancy and software development company that specializes in digitalization projects for the banking sector. We find solutions for current and future challenges either by implementing new functionalities in existing bank software or by developing totally new applications.

 

 

 

Enterprise Risk Management / Fraud Detection

RegData

regdataRegData clears you through regulatory and technical borders, especially during the aggregation of data from any source and when it is shared. Its transparent, unintrusive integration, no matter the languages and protocols, allows you to lead innovative strategies for your company’s data.

 

 

 

Swiss Finlab

New solutions are needed for managing personal data and personal wealth – We explore & build them. We believe that the successful company of the future will have access to customer data, the ability to analyze it and use it for intuitive applications. We at SWISS FIN LAB can help you with exactly that. We are really good at investments, managing and analyzing data and making beautiful and intuitive applications.

 

Dathena

DathenaDathena is the First Data Governance Platform Developed by Real Users for Real Users

 

 

 

Ifinity AG

IFINITY AGIFINITY AG (founded 2015) is an independent service provider committed to strengthening the operational efficiency and regulatory compliance of independent asset managers (IAMs). Thanks to IFINITY’s unique service offering IAMs are able to focus on client interaction as their core „USP“.

 

 

 

Investment Risk Management / Quantitative Analytics

Lumrisk

lumriskLumRisk is an independent company that provides state-of-the-art risk consolidation, analysis and reporting services to institutional clients. LumRisk provides risk analysis and reporting, based on full transparency into underlying instruments, on many types of investment programs, such as funds-of-hedge-funds, multi-asset programs, alternative risk premia programs and traditional long-only investments.

 

 

FinHorizon AG

finhorizon’s portal translates complex investment research results to intuitive decision indicators. This novel approach allows all investors to easily find assets that exactly match their risk tolerance and return goals out of all instruments world-wide. They can automatically compile and manage their own optimal personalized portfolios.

 

 

InvestGlass

Top 30 FinTech Startups InvestGlassFounded in 2014, InvestGlass provides a white-labeled, client and prospect management platform for bankers, wealth managers and advisors. The platform is designed to facilitate more efficient prospecting and onboarding of new clients, as well as the management relationships with existing clients. Components include a content management system, CRM, and client portal.

 

 

AAAccell

AAAccell a leading innovation company in asset-and risk management developing cutting-edge high-tech solutions for the financial service market.

 

 

 

 

Riskifier

Riskifier makes investment risk profiling simple, fun and insightful for everyone. Our solution uses latest advances of artificial intelligence to fulfill the requirements of MiFID II/FIDLEG investor risk profiling and KYC data collection, while digitalizing & gamifying user experience as well unleashing advantages of behavior based personalized investment risk profiles.

 

 

Integration Alpha

We are a boutique data strategy consulting firm with a focus on guiding organizations on their journey towards data-driven business and industry models. More than ever before, success at doing business, at keeping clients engaged and at maintaining an edge over competitors is dependent on the intelligent use (and exploitation) of data. Not in the form most businesses are accustomed to today but as continuous streams of specific intelligence.

 

Regulatory Mapping

Apiax

Apiax is an early-stage startup that aims at generating better access to compliance regulations. It provides easily integrated public programming interfaces (APIs) that facilitate access to always up-to-date and verified compliance rules.

 

 

 

Capnovum

Capnovum introduces a new chapter by empowering clients to manage change self-sufficiently.  Asset based services help our clients stay informed and in control of ever more complex regulatory requirements. Our clients, investing in their own resources; mitigate risk, drive down cost of change, and reduce dependence on management consultants for execution.

 

 

Lari

LARI helps businesses to keep track of legal and regulatory changes. Our mission is to promote collaboration and increase workflow productivity of corporate legal departments. LARI is an intelligent issue management platform for legal and compliance departments. It automatically discovers the latest updates in laws and regulations impacting a company. It helps teams to understand those changes and translate them into actionable and auditable items.

 

 

Indagia

indagiaThe world’s first and only fully integrated platform powered by artificial intelligence for external audit. Thanks to artificial intelligence indagia can greatly increase the efficiency and accuracy of a financial audit, by analyzing up to 100% of all transactions. In addition, our software can perform automatic risk assessments and propose tailormade audit procedures. With the help of RPA analytical procedures and test of details are perform in minutes!

 

Investment Navigator

investment navigatorInvestment Navigator AG (IMN) is a web-based information platform for banks and asset managers that supports the internal advisory process with regards to financial services, products and portfolio management in their cross-border and product suitability management.

 

 

 

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KMU Digitalisierungs Studie: Ein digitaler Vorsprung ist immer noch möglich http://fintechnews.ch/fintech/kmu-digitalisierungs-studie-ein-digitaler-vorsprung-ist-immer-noch-moglich/28818/ Thu, 20 Jun 2019 04:47:27 +0000 http://fintechnews.ch/?p=28818 Wie schon im Jahr 2017 widmet sich der diesjährige KMU-Spiegel dem Thema «Digitalisierung». Es sei unbestritten, dass die Digitalisierung eines der wichtigsten und umfassendsten Themen sei, mit denen Unternehmen heute

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Wie schon im Jahr 2017 widmet sich der diesjährige KMU-Spiegel dem Thema «Digitalisierung».

Es sei unbestritten, dass die Digitalisierung eines der wichtigsten und umfassendsten Themen sei, mit denen Unternehmen heute konfrontiert sind, begründen die Autoren das Wiederaufnehmen des Themas.

Der KMU-Spiegel betrachtet die Entwicklung und formuliert konkrete Lösungsansätze für Herausforderungen, die sich aus der digitalen Transformation heraus ergeben. Die Autoren bezeichnen die Digitalisierung als einen Prozess der sowohl unausweichlich wie kontinuierlich sei. Oder wie dies der für die Studie interviewte Peter Kancsar von Milani formulierte:

«Es gibt keinen Moment, in dem wir sagen können, wir haben es erreicht und wir können uns zurücklehnen. Wir verändern uns kontinuierlich und passen uns an.»

Prof. Dr. Rigo Tietz

Prof. Dr. Rigo Tietz

Die Digitalisierung führe zu grundlegenden Veränderungen, zum Beispiel in der Wettbewerbssituation von Organisationen, wenn Konkurrenten effizientere und innovative Geschäftskonzepte entwickeln, erklärt Prof. Dr. Rigo Tietz, Projektleiter des KMU-Spiegels und Leiter des Kompetenzzentrums Strategie und Management am Institut für Unternehmensführung IFU-FHS an der Fachhochschule St.Gallen und ergänzt:

«Die Digitalisierung verändert grundlegend das Verhalten einzelner Personen und damit schlussendlich der ganzen Gesellschaft.»

 

Digitalisierung verstehen und glaubwürdig vorantreiben können

Es zeigt sich, dass es gerade die besondere Situation der KMU ist, welche diese zwingt, über neue und kreative Lösungen nachzudenken. Aufgrund der oft begrenzten Ressourcenausstattung gelten für KMU im Vergleich zu Grossunternehmen oft andere Grenzen und Möglichkeiten.

Mit dem genauen Blick auf acht Unternehmen aus acht Branchen identifiziert der KMU-Spiegel «Best Practices», welche diese Unternehmen im Umgang mit der Digitalisierung entwickelt haben. Somit stellt die Studie nicht nur die Frage nach den Herausforderungen und den eigenen Lösungsansätzen, sondern beschreibt, was andere Unternehmen in der gleichen oder auch in einer anderen Branche von diesem Lösungsansatz lernen können.

Technologischer Wandel als Treiber für Veränderungen in wichtigen Schweizer Branchen

Technologischer Wandel als Treiber für Veränderungen in wichtigen Schweizer Branchen

Im Umgang mit Digitalisierung lässt sich gemäss Rigo Tietz feststellen, dass die Digitalisierung oft von operativen Herausforderungen verdrängt wird. Sie ist aber ein strategisches Thema, das die Geschäftsführung angemessen priorisieren und ausreichend Zeit dafür einplanen muss.

Gemäss den Studienautoren braucht es in der Geschäftsführung von KMU, «digital affine» Personen, die das Thema Digitalisierung verstehen und glaubwürdig vorantreiben können. Diese können die positiven Aspekte der sich zwingend einstellenden Veränderung glaubhaft vorleben und damit Ängste der Mitarbeitenden abfangen. Ivo Steiner, Geschäftsführer Landi Zola AG untermauert diese Feststellung:

«Wenn du als Geschäftsführer nicht dahinterstehst, es nicht mitträgst und dich nicht damit identifizieren kannst, dann funktioniert es sicher nicht.»

Digital näher zum Kunden und enger zusammenarbeiten

Vor allem jungen Unternehmen und Start-ups gelingt es, ihr Geschäftsmodell und ihre Funktionsweise gezielt auf den neuen Technologien wie Robotik, Internet der Dinge, Blockchain oder künstliche Intelligenz aufzubauen. Etablierte Unternehmen tun sich teilweise eher schwer damit, solche neuen Technologien mit dem bestehenden Geschäft zu verknüpfen oder ganz neue Optionen anzustossen, so der Vergleich der Studienautoren.

Automatisierung findet sich aber auch in traditionellen Branchen wie der Landwirtschaft: Auf dem Hof Hinterburg werden Roboter eingesetzt und Roman Moser und Adrian Haggenmacher bestätigen, dass durch die Abgabe von Aufgaben an Roboter zeitliche Freiräume geschafft werden – dies eine oft geäusserte Hoffnung oder oft erwähnter Nutzen der Digitalisierung.

Als weitere Chancen der Digitalisierung bezeichnen die interviewten Unternehmerinnen und Unternehmer Effizienzsteigerungen. Dabei könne die Verbesserung der Effizienz ganz unterschiedliche Aspekte umfassen, sagt Rigo Tietz.

«Oftmals geht es um die Digitalisierung der Kundenschnittstelle, um beispielsweise den Bestellprozess zu beschleunigen oder Standardprodukte zu vertreiben.»

Oder sogar Nischenprodukte, wie im Falle von Ergoswiss.

Selbst wenn digitale Tools die Interaktion mit dem Kunden verändern, die Zusammenarbeit erleichtern und somit die Kundenbeziehung intensivieren, erwähnen viele der befragten Unternehmerinnen und Unternehmer immer wieder, dass im Laufe der Digitalisierung die persönliche Kommunikation an Bedeutung gewinne, sei das nun auf der Baustelle wie bei Schlangenhauf oder auch im Hofladen. 

Jeder Schritt ins digitale Neuland ist ein Risiko

«Bei den Investitionen geht es nicht nur um die Investitionshöhe, die für KMU mit begrenzten finanziellen Ressourcen eine Herausforderung darstellen kann.»

Vielmehr gebe es eine Vielzahl an digitalen Möglichkeiten. Die dadurch resultierende Gefahr formulierte Marco Zeller von der Bever Lodge im Engadin: Er nennt als Digitalisierungs-Risiken den Zeit- und Geldaufwand sowie die Verzettelung von Ressourcen. Man müsse nicht jeden Trend mitmachen.

 

 

Featured image credit: Freepik

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The Next Generation Wealth Manager http://fintechnews.ch/roboadvisor_onlinewealth/the-next-generation-wealth-manager/28788/ Thu, 20 Jun 2019 03:39:42 +0000 http://fintechnews.ch/?p=28788 Wealth managers are confident that technology will be a key enabler in achieving efficiency, delivering highly personalized services, and enhancing customer experience, according to a new survey by Temenos and

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Wealth managers are confident that technology will be a key enabler in achieving efficiency, delivering highly personalized services, and enhancing customer experience, according to a new survey by Temenos and Forbes Insights.

In a report titled The Next Generation Wealth Manager: Advancing Services and Personalization with Technology, Temenos and Forbes share findings of a survey of 305 high-level executives to understand the value of technology from the perspectives of both wealth managers and clients.

Technologies including artificial intelligence (AI), machine learning, process automation and blockchain are considerably transforming the wealth management experience for advisors at private banks and the high net worth individuals (HNWIs) they serve. It is now imperative for the industry to leverage these technologies to provide customers with the level of customization and experience that’s now requested.

Wealth managers are confident that technology will play a key part in the future of their industry, with almost every wealth manager (92%) believing that digitalization of wealth management services is either a good thing or essential, and 84% of the executives surveyed stating that being adept at technology will be key to become a successful wealth manager in the future.

Almost seven in 10 wealth managers said that a virtual platform is an essential way to enhance the client experience, and 64% think that digitalization is essential for communication and service enhancement.

Successful wealth manager of the future

AI and blockchain in particular, are perceived as two of the most disruptive technologies for wealth management. 86% of wealth managers believe AI is important in data analysis and personalized insights, and 83% perceive blockchain as a powerful technology to wealth management for its ability to bring more powerful security (47%) and greater transparency and trust in transactions (43%).

The study also found that high net worth individuals (HNWIs) are rapidly warming up to technology. Over the past three years, acceptance of technology among HNWIs has significantly expanded, with now 87% of respondents stating they accept technology in their investment experience.

In fact, HNWIs and mass-affluent investors want technology to play an even greater role in their advisor relationships, underscoring the imperative at investment banks and private banks to continue digital transformation, the report says.

“Both HNWIs and mass affluent investors want to enhance their relationships with wealth managers through more personalized services,” said Pierre Bouquieaux, Product Director Wealth at Temenos.

“Technology from the client perspective, should facilitate more active portfolio management, unlock new insights through predictive analytics and reveal opportunities that may exists in alternative investments.

“Delivering personalized customer experiences will become the key differentiator for wealth managers.”

According to the report, “the key to [wealth managers’] success will be understanding and using technology effectively to advance client services in line with the goals and needs of new investors.”

“The modern client-advisor relationship is powered by mobile platforms and digitization — and AI technologies like machine learning — but it remains at its core a very human one,” the research says. “Technologies should be seen as a means to a business end, with the goal being increased client satisfaction from understanding the three pathways to success covered in this report.”

The report highlights three pathways to success that will define the next generation wealth manager:

Customer experience enhanced by digital client services and personalization: Personalization is the ultimate goal for wealth managers as it is at the heart of the customer experience. As wealth managers use technology in more sophisticated ways, a key differentiator will be their ability to segment clients at an even more refined level than today.

Insight gained through AI and analytics: AI technologies are the foundation of advanced wealth management analytics that can power more accurate and predictive guidance and returns.

New markets defined by the mass affluent and alternative investments: Being adept at technology and personalizing service around goal-based investor will be the future of the industry. Such skills will also provide an entry into the mass affluent segment.

 

Featured image credit: Edited from Freepik

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