SwissComply, a regulatory services provider for asset managers, has joined the fintech company Evolute to form Evolute Group AG. This merger of regulatory and fintech services creates a platform provider for asset managers that combines comprehensive regulatory services with digital technology. Kaspar Wohnlich has been selected as the newly formed platform’s CEO. The Board of Directors is made up of fintech entrepreneur Michael Hartweg, former Microsoft Switzerland boss Peter A.C. Blum (President of the Board) and financial expert Kathleen DeRose.
“The merger allows us to combine the most innovative approaches from the areas of technology and also compliance and risk management, in order to create a unique and modular solution,” explained Wohnlich. “The combination of the best of both these worlds enables us to offer our customers exactly what they need today: regtech and fintech from a single source. This makes it possible to save costs in times of declining margins by increasing efficiency, while at the same time ensuring our customers are well prepared for future regulatory change.”
While the financial sector is being driven by attempts to implement more stringent national and international regulatory requirements, new technologies are fundamentally and enduringly changing wealth management and its associated business models. In order to better meet the future demands of asset management, the financial service providers SwissComply and Evolute decided to merge. The newly combined company Evolute Group AG will be based in Zug, Switzerland with further corporate sites in Zurich and Lviv, Ukraine.
The merger aims to create a unique range of digital wealth management services which are based on SwissComply, a firm that has offered services for asset managers, family offices and banks in the areas of compliance, risk management, IT and back office since 2013.
“With the merger, we are creating a solution for asset management that redefines the customer experience through both traditional and digital channels, and which can be applied consistently along the entire value chain,” indicated Michael Hartweg. “With our innovative solution, we are taking an important step in terms of the much debated digitisation and industrialisation of wealth management.”