In the complex landscape of financial services regulations, the Swiss Financial Services Act (FinSA) and Financial Institutions Act (FinIA) have become pivotal legislations that govern the operations of External Asset Managers (EAMs). Compliance with these requirements has proven to be a daunting task for many institutions. Enter WealthArc, a WealthTech company that has transformed the laborious compliance process into a streamlined, user-friendly operation. The company’s innovative approach is focused on alleviating the typical pain points associated with regulatory adherence through its intuitive Wealth App platform.
The Burden of Compliance
The FinSA/FinIA regulation enforces rigorous standards that require EAMs to maintain comprehensive records, conduct due diligence, and report accurately on client portfolios. Initially, firms struggled with these tasks due to the high degree of manual intervention needed, which was not only prone to human error but also excessively time-consuming. Collecting the volumes of data mandated by the authorities also presented a significant risk of incurring regulatory fines or, worse, the loss of licenses due to non-compliance. These challenges highlighted the need for an innovative solution capable of simplifying these complex processes.
WealthArc seized the opportunity to fill this gap by developing a compliance infrastructure within its digital ecosystem. By placing a high emphasis on automated data collection and analysis, the Wealth App significantly reduced the risk of error and the manual workload required by EAMs. Moreover, the app’s compliance modules are specifically designed to address FinSA/FinIA requirements. They create precise reports that meet the exacting specifications of the regulations, thereby eliminating the guesswork and fear of compliance failures that previously plagued asset managers.
WealthArc’s Technological Edge
WealthArc, a pioneering WealthTech firm, is revolutionizing compliance management for External Asset Managers (EAMs) grappling with the stringent requirements of the Swiss Financial Services Act (FinSA) and Financial Institutions Act (FinIA). The company’s sophisticated Wealth App platform simplifies the complexity of adhering to these regulations, significantly easing the regulatory burden. WealthArc’s solution caters to the specific challenges EAMs face, providing a streamlined and intuitive means to ensure full compliance. This technology is a game-changer in the financial services industry, where it has become increasingly difficult to keep up with the ever-evolving regulatory landscape. WealthArc steps in to make compliance achievable, efficient, and less burdensome, underscoring its role as an innovator in the WealthTech space.
