MUNICH / ZURICH - January 20th, 2021 - In order to strengthen its services Web Financial Group (WebFG) decided for a strategic product partnership with market leading RegTech provider, cleversoft. The new partnership aims to strengthen the services provided by WebFG and enable clients to meet pre-trade, and post-trade, regulatory obligations for FinSA — including the provisioning of all required information and regulatory documents.
In the first stage, docRepository — a cleversoft SaaS application for retrieving and distributing regulatory documents in every language — is integrated into the Digital Framework (SaaS) to serve joint clients within the existing contracts and a minimum of implementation efforts for each of them. Then, docRepository™ is seamlessly integrated to deliver, pre-trade, the required document types for all asset classes, like structured products, funds, and Exchange-Traded Derivatives (ETDs).
Greater flexibility in obtaining and delivering regulatory documents is critical for financial services companies and can be ensured with the modular docRepository™ service application. The mandatory publications of the product manufacturers and the need to meet the requirements of the FinSA, the European PRIIP regulation, the British PRIIP regulation, the UCITS directive and the information sheets on the German Securities Trading Act are also decisive.
We look forward to expanding our digital service offering a range of digitization, with the strategic partnership to provide more established RegTech solutions from cleversoft," says Reto Gualeni, Sales Director Switzerland, Germany, and Austria at Web Financial Group. "With this integration, Web Financial Group is not only responding to the regulatory requirements of the Financial Services Act (FinSA), but also to the industry's demands for the ongoing digitization of processes and workflow. By integrating this modern platform, we can not only offer our common customers convenience in compliance with regulatory documents, but also minimize the effort required to set up and operate the solution and improve the workflow"
Torsten Lange, responsible for partner management at cleversoft, explains the reasons for the long-term partnership with strategic background: "Seamless integration of our services within the WebFG solutions is the logical step for us to support an established and well-known solution provider with our turnkey RegTech services. The entire finance industry wants to increasingly provide digital services to dedicated customer segments, and expand their investment business, in accordance with all regulations. The collaboration creates security and flexibility for using the ’Digital Framework’ from WebFG in a straight-through-processing manner for all regulatory requirements.”
About Web Financial Group
The future of the financial industry is digital, real time and fully connected. Born from innovation, Web Financial Group’s forward-thinking digital approach enables the financial services industry to realize the true power of digital transformation and stay ahead of the competition.
WebFG devises bespoke digital solutions by harnessing sophisticated data insight, cutting-edge technology, and industry leading expertise refined over 20 years. Our focus and ingenuity mean we deliver a real business advantage for financial institutions, HNW investors and media partners around the world.
The company currently has offices in Spain (Madrid), UK (London), US (Chicago), Switzerland (Zurich and Biel), France (Paris), Sweden (Stockholm) Germany (Frankfurt).
Reto Gualeni, Web Financial Group Switzerland AG
Phone: +41 32 321 32 50
cleversoft is a leading RegTech provider for cloud-based solutions to the financial industry and provides regulatory solutions for PRIIP, MiFID II, FinSA, AMLD, Solvency II, and IFRS 17. cleversoft’s digital solutions enable the automation of business processes — including the creation and distribution of regulatory documents, reports, marketing materials, and calculations. Founded in 2004, we support over 300 financial service providers worldwide from our offices in Amsterdam, The Hague, Munich, Frankfurt, Nuremberg, Luxembourg, and Sofia.
Jörg Barenhoff, cleversoft GmbH
Phone: +49 69 / 348 729 51