Swiss regtech company Indigita SA and private banking system provider New Access SA have announced their partnership to simplify regulatory compliance for private banks and wealth managers. The collaboration makes automated cross-border and suitability checks based on leading regulatory knowhow available in New Access’ award-winning suite of digital solutions.
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The New Access core-to-digital application suite has been named “most innovative client solution” at the 2021 WealthBriefing Swiss Awards and supports private banks in the digital transformation of their business. As part of the collaboration, Indigita’s API solution will be integrated with the New Access product suite, adding cross-border and compliance capabilities to the different modules. This includes centralised and automated controls for cross-border activities as well as product and tax suitability checks within the New Access core banking system, portfolio management system and client lifecycle management solution.
Indigita’s digital solutions draw on the holistic cross-border regulatory knowledge of its parent company BRP Bizzozero & Partners SA and sister company BRP Tax SA. Thanks to the collaboration, New Access clients will also benefit from direct access to legal and tax experts within the BRP group, who can provide guidance and help tailor controls to clients’ unique needs.
New Access CEO Vincent Jeunet said: “Cross-border compliance represents an important challenge for private bankers and wealth managers. By partnering with Indigita, we are enhancing our solutions to offer automated cross-border compliance and suitability checks, so our clients can focus on the growth and digital transformation of their business.”
Indigita CEO Achille Deodato said: “Our partnership with New Access represents the continuation of our strategy to integrate the Indigita API with leading core banking as well as portfolio and client management platforms. We are thrilled to offer New Access clients an easy-to-use solution to conduct their business in a compliant way amid an increasingly complex regulatory environment.”
Automated cross-border controls and suitability checks based on Indigita’s API solution are available within the New Access product suite as of now.