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SerVICES

Complete compliance for the Financial Services Act (FinSA) and FinSO.

FinSA Service

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FinSA Service

Regulatory framework Financial Services Act (FinSA) and Financial Services Ordinance (FinSO)

Based on the Swiss legislation, the “Bundesrat” passed the Swiss Financial Services Act (FinSA) together with the Financial Institutions Act (FinIA)on June 15th 2018, financial institutions in the Swiss market need to adhere to financial market regulations, which are quite similar to the European regulations MiFID II and PRIIPs.

This includes in particular:

  • Key Information Documents (KIDs) for financial instruments summarizing the products functioning as well as risks and opportunities
  • Matching of retail investor’s risk appetite and financial products’ risk profile
  • Many more well-known topics from MiFID I

Scope of products to be covered

The Swiss FinSA covers a similar scope to European PRIIPs, most important to note though is that OTC products are not covered by the Swiss FinSA. Of course this does not release the point of sales from the responsibility to hand out a PRIIP KID to an EEA (European Economic Area) resident, even if booked by a Swiss bank.

Cleversoft solution for distributors of products

For distributors the key challenge derives from the manufacturer’s dilemma surrounding the question on whether PRIIP KIDs or Swiss Finish KIDs will need to be collected and distributed to clients.

The failsafe strategy here clearly results in employing a cleversoft service guarantee solution which is:

  1. Technically capable of delivering PRIIP KIDs as well as Swiss FinSA KIDs
  1. Includes a contractual guarantee by cleversoft to also include and deliver Swiss FinSA KIDs
  1. Able to easily and quickly add manufacturers for increased coverage

Additionally cleversoft allows you a state-of-the-art-integration in various software systems leveraging standard adaptors and integrations such as:

  • Core-Banking solutions such as Avaloq, Finnova, New Acces, FinStar and others
  • Terminal client such as Thomson Reuters EIKON
  • Advisory Tools
  • Web Frontends (docRepository Microsite)
  • Your custom bespoke solutions

Cleversoft solution for manufacturers

One key question on the manufacturing side is surrounding the topic whether it is worth the effort to produce Swiss Finish KIDs or to just use the European PRIIP KIDs for the Swiss market. In particular manufacturers who have already set up an infrastructure for producing PRIIP KIDs are tempted and typically advised to follow this route.

For manufacturers who still want to produce Swiss FinSA KIDs, yielding a higher benefit to the customer in the sense of being more comprehensible than European PRIIP KIDs, potentially gaining a competitive edge on other manufacturers, cleversoft offers a comprehensive solution suite based on its experience with PRIIP and German “Produktinformationsblatt (PIB)” production  

docCreator™

The docCreator™ automates the preparation of FinSA KIDs / PRIIP KIDs for:

  • Structured products
  • OTC products
  • Funds
  • docRepository™

The docRepository™ solution enables you to obtain PRIIP KIIDs and all other regulatory documents, such as PIB, FinSA Key Informations Documents, etc.

OTC KID-Generator

The OTC KID generator creates and provides PRIIP KIDs for OTC products, such as forward exchange contracts or interest rate options.

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Our process

We work with financial services companies around the world. Here's our process.

Our team has years of industry experience to help support you throughout the regulatory compliance software acquisition process — from A to Z.

01
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Discover and Learn

Our services range from self-serve free trial up to solutions that require white glove service. In both cases, we begin by learning about you.

02
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Setup

We ensure you have everything you need to get off to a great start with your compliance software and services.

03
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Develop

Whether you've chosen SaaS self-serve, on premise, or cloud-based implementation, rest assured knowing you can start using our solutions ASAP.

04
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Customer Success

Once you're up-and-running, our customer success team is here to support you every step of the way.

05
Scale up

We work with companies of all sizes, with varying numbers of end-users. When you're ready to scale up your solution, look no further than cleversoft.

06
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Availability

Not only does our technology have a 99.98% availability rate, but our tech team and customer success are here for you when you need us most.

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