With the burden of regulation mounting year by year, and fines and other risks associated with violations spiralling, compliance remains a top priority. While banks everywhere try to cut their operating expenses, regulatory demands pile on extra costs, starving them of funds for innovation and digitalization.

But it doesn’t have to be like this. As an Avaloq client, you are part of a community whose members pool their experiences, swap ideas and solutions and effectively share the costs of compliance.

If you want to step off the compliance treadmill, join us and get the power of the community working for you.

Compliance solutions that save you money

When compliance research and insights are shared across the community, solutions can be found quickly and costs for each client can often be lowered dramatically. For example, 70% of our clients have so far opted for our AEOI/CRS solution.

Each one of them has saved 500 to 1,000 person days of implementation effort, compared with tackling the work in-house.

Compliance that’s built in

Many of the standard features of Avaloq’s SaaS solutions guard against human error and serve to enforce key aspects of today’s reporting and compliance requirements.

  • A standard set of rules for fraud detection
  • A robust, comprehensive anti-money laundering module
  • Support for Know Your Customer (KYC), Know Your Transactions (KYT) and Know Your Processes (KYP)
  • Built-in interfaces to standard tools used for regulatory reporting, such as BAIS, Wolters Kluwer and BearingPoint
  • Our investment suitability framework allows easy definition of rules such as those needed for MiFID II

MiFID II – a case in point

New elements in the MiFID II legislation demand the application of very specific rules, determined according to the countries of domicile of both the wealth manager and the client.

 

Our solution offers:

  • Simplified modelling of new compliance rules and their seamless integration across the full range of end-to-end processes
  • Integrated optimization functions, adapted to each specific regulatory regime
  • A PRIIPS/investment document service that automatically retrieves the right risk disclosure documents (e.g. KID, KIID) from market data providers and tracks delivery to the client

A better approach for better answers

Our specialist compliance competency centre tracks regulatory regimes around the world.

 

We work with top global consultancies to monitor jurisdictions and define needs.

We have dedicated localization teams in each key geography.

 

 

Clients and partners share insights and ideas with us in regular knowledge groups.

Our solutions are built in partnership with clients to guarantee usability.

 

Our SLAs commit us to ensuring compliance in all the markets where we have clients.

PSD2 – Open banking built in

By September 2019, every bank in the EEA will need to be PSD2-compliant. But PSD2 is more than just another directive. It gives banking clients control over their own data. It also provides a level playing field across the industry, ushering in a new era of open banking that will create new services for clients and new opportunities for every bank.

Our complete PSD2 solution uses open APIs to connect you rapidly and seamlessly with these new services. Like the Avaloq platform itself, it can be used ‘as a service’, via the cloud or implemented on-premises, offering you true flexibility while minimizing risk.

Find out more on our PSD2 offering

Liechtensteinische Landesbank (LLB) wanted to improve the ability of its 250 advisors to assess opportunities and risk, and grow the business, while at the same time ensuring MiFID II/FIDLEG compliance. As the market offered nothing that met its needs, Avaloq set up a three-way innovation partnership with the bank and swissQuant. This has led to Avaloq’s portfolio optimization solution, which is fully integrated with the Avaloq Banking Suite and includes automated compliance checks and a single unified user interface. It gives clients the choice of three advice levels, plus powerful features like on-the-fly risk calculations.

"Our growth strategy demands a modern, high-quality technology platform. With Avaloq, we benefit from a high innovation rate together with synergies within the Avaloq Community for things like regulatory requirements.”

Burak Seyrek

Former CEO, İşbank AG

“By working with Avaloq, we gain more efficiency and agility. As we can now build on Avaloq’s expertise when it comes to handling the increasing legal and regulatory demand, we can free up resources and focus even more on our clients.”

Nasri V. Malhamé

CEO, Arab Bank (Switzerland)