Indigita and Prometeia, two leading regtech and wealthtech firms, have entered a partnership to better help financial institutions meet their compliance obligations. A joint set of tools simplifies compliance with FinSA and/or MiFID II investor protection requirements, as well as cross-border compliance in product placement.
As a response to a growing demand among wealth advisors to comply with FinSA and MiFID II by end of 2021 while respecting cross-border regulations, Prometeia has integrated its PFTPro Wealth Management solution with the data of BRP Bizzozero & Partners SA provided by Indigita´s API.
Relationship managers using Prometeia’s PFTPro front office suite to provide investors with client-centric, compliant advisory services will also benefit from a series of automated checks, powered by Indigita. Personalized investment proposals created with PFTPro now include the complete range of cross-border, placement and tax checks, in addition to suitability, appropriateness, and transparency controls and automations.
For clients looking for a stand-alone solution that does not require any IT integration, Indigita has added a new module to its flagship web-based application inApp, leveraging Prometeia’s PFTPro Suitability Engine. The new functionality allows users to perform appropriateness checks, on the basis of a client´s knowledge and experience, by simply entering an ISIN code.
The cross-border knowhow supplied by the Indigita products is based on the leading regulatory expertise of BRP Bizzozero & Partners SA and BRP Tax SA, while Prometeia has over 20 years of experience in investor protection compliance serving more than 125 institutions. Thanks to the partnership, Prometeia clients will also gain access to legal and tax experts within the BRP Group, who can advise on specific cross-border issues.
Prometeia’s Country Head for Switzerland, Carmine Cammarota, commented: “The collaboration with Indigita will help our clients further streamline their advisory services by bringing the complete set of compliance controls together into one easy process. This is an advantage for all of our clients - from large banking groups to independent wealth managers.”
Indigita CEO Achille Deodato said: “Thanks to this valuable partnership, we have further enhanced our digital compliance capabilities. Prometeia and Indigita’s combined solutions can now cover the needs of our clients on cross-border, product placement, tax suitability and product appropriateness – from any device.”