CLIENT

The client, one of the largest Private Banks in Switzerland, is working in several fields: Trading, Private Banking, Wealth Management and Asset Management. With locations around the world, this Swiss Private Bank is in the top 10 in terms of assets under management.

 

NEEDS

Activity in the Swiss financial sector, including Private Banking, is increasingly subject to cost control, confronted with heterogeneity of Front to Back Office systems, and FINMA requirements.

Given the number of “Front Office” applications, the Compliance Manager of the Bank had no real-time consolidated and automated overview of all transactions carried out. He was also unable to receive real-time alerts on suspicious transactions. Rapid action was therefore impossible.

The Compliance Manager constantly had to analyze manually extracted data, in order to create ad-hoc consolidated views of transactions. In light of a stringent regulatory framework, the Bank was looking for a tool to automatically consolidate and control transactions.

SOLUTION

Using its Connectivity Factory solution, it took  12 days for AiM and its partner Crossing-Tech to integrate four Front Office applications. Once the target database was receiving real-time data, Crossing-Tech launched a highly intuitive application to provide the Compliance Manager with:

  • An end-to-end view of each transaction.
  • A real-time list of all transactions carried out.
  • Alerts based on FINMA regulations.
  • A free text search module.

BENEFITS

  • The Connectivity Factory solution provides a rapid connection with no technical requirements to all Front Office applications.
  • A GUI enables the Regulatory Manager to manage his work with full autonomy.
  • Significant decrease in Operational Risk and Reputational Risk.
  • Double-digit Return on Investment (ROI) and Net Present Value (NPV).