In this interview, Achille Deodato, CEO, Indigita, explains to WealthBriefing why this firm has raised the bar for excellence.
Indigita is the digital arm of BRP Group and turns the leading regulatory and tax knowhow of its parent company BRP Bizzozero & Partners and sister company BRP Tax into innovative technology solutions that enable financial institutions to simplify and automate compliance amid an increasingly complex regulatory environment. With offices in Geneva, Zurich and Lugano, Indigita covers the three main financial centres across Switzerland’s language regions.
“INDIGITA IS ALL ABOUT SIMPLICITY AND APPLICABILITY. RATHER THAN SELLING COMPLEX CONCEPTS, WE’RE OFFERING TURN-KEY TECHNOLOGY SOLUTIONS.”
What sets you apart from your peers this year and why?
Indigita is all about simplicity and applicability. Rather than selling complex concepts, we’re offering turn-key technology solutions that are simple to integrate with existing workflows and platforms, and deliver tangible value from day one. Our focus on simplicity and efficiency further allows us to offer our services at competitive rates. To provide an example of how we simplify things for our clients: Based on a financial instrument’s ISIN, our new product and tax suitability solution provides client advisors with instant information on product placement restrictions and tax impact for specific cross-border settings.
How have your colleagues contributed towards the success of your organisation?
I have the pleasure of working with an exceptional group of colleagues, who are the driver of our success. What makes our organisation truly unique is our powerful blend of talent. It starts with the profound knowledge of our legal and tax experts, working at our mother company BRP Bizzozero & Partners and sister company BRP Tax. At Indigita, our team of digital specialists builds on this expertise to create technology solutions that are tailored precisely to our clients’ needs. Our success also builds on our people’s willingness to constantly try out new ways of increasing the benefit for our clients, as well as on their passion to learn and grow. Today’s fast-changing regulatory environment is mirrored internally by the agile way in which we collaborate and develop new ideas.
What are you going to do to stay on the front foot in a fast-growing but also challenging region such as this?
The future of compliance controls lies in artificial intelligence and automation. It’s the only way financial institutions can keep a lid on costs in an increasingly strict and complex regulatory environment. That’s why Indigita, along with the entire BRP Group, invests heavily in new technology. We’re also strengthening our partnerships with key data providers and integrate our solutions with existing portfolio management, customer relationship management and core banking systems to provide clients access to our expertise within their existing processes. And we closely monitor technology and regulatory trends in order to anticipate new client needs and address them early on.
What have been the challenges you have had to overcome to reach such a standard?
It may sound paradoxical, but as a technology company, our first and biggest challenge is to truly understand the challenge we need to solve for our clients. It’s easy to fall in love with your own tech, while losing track of the real needs of your clients. The way we tackle this is to start on the regulatory side: What do our clients need to do in order to remain compliant and mitigate regulatory risks? Once we fully understand their regulatory challenges, we create technology solutions that address these challenges in the most simple and efficient way.
What are the prospects for wealth management in the future bearing in mind a new social and economic environment ahead?
Wealth management will be facing increasing regulation, more controls and an overall professionalisation of the business. It’s similar to what banks have been going through for a while now. This will further accentuate the current consolidation rend, which will see the most competitive institutions emerge as the winners. In this challenging environment, operational and regulatory efficiency becomes imperative for wealth managers.
What do you hope will be the result of receiving this accolade?
How does it help your business in this region? Winning this award and having our efforts recognised by a panel of independent experts means a lot to us and spurs us on to further enhance the services and products we provide to our clients. The accolade also underscores the relevance and value of our solutions, strengthens our credibility in the market and serves as a powerful signal to potential new clients.