Banque Syz has joined Wecan Comply, the first global compliance services platform dedicated to private banks and independent asset managers based on blockchain technology. Syz thus joins other major banks of the Swiss financial services industry that already use this platform.
This platform has been developed by the Swiss fintech group, Wecan, a recognised expert in blockchain technologies. This highly secure solution aims to simplify the exchange of information with independent asset managers.
“Looking ahead to the future is in our DNA. We built our business on listening to clients, delivering great service and the notion of personalised service”, says Yvan Gaillard, CEO of Banque Syz. “Our independent asset managers have had to deal with changes to the regulatory landscape, which are ever more complex, notably with the LSFin and LEFin Acts that came into force on 1 January 2020, and the increasing amount of requirements in their activities. We are therefore delighted to be able to give them access to an innovative platform that simplifies the compliance process for them”.
After working with a broad range of financial players for over a year, Wecan Comply was created to address the needs of private banks and independent asset managers in the best possible way. The solution enables them to achieve noticeable economies of scale with regards to their compliance procedures.
Built as a smart digital vault, Wecan Comply enables banks and asset managers to store and access data that is necessary for the performance of the compliance function in a highly secure manner using blockchain technology. As Banque Syz joins the Wecan platform, Switzerland yet again confirms it is a pioneer in the use of blockchain technologies.
“We believe that Wecan Comply represents new opportunities for banks and external Asset managers,” says Vincent Pignon, founder & CEO of Wecan Group. “The application of blockchain technology has the potential to transform the way to manage compliance with simpler procedures, greater security and the possibility to carry out audits in real time. Wecan Comply is leading the field in blockchain technology and Syz is the bank for the future. By joining forces, we can help external asset managers to bridge the gap between traditional and digital compliance.”