SIX extends DocHub platform reach through Finnova 04 JuneZürich Reporter: Maddie Saghir
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SIX has made DocHub available to the wider Swiss financial market through Finnova, a Swiss provider of software and services.
The regulatory document hub is a fully automated platform that connects product manufacturers with distributors.
This is to ensure key information documents (KIDs) and other regulatory documents are available digitally, are up-to-date and correct, in clients' e-banking and core banking systems.
Swiss banks utilising Finnova’s core banking software will now be able to get access to the documentation they need to remain compliant with FinSA, the Swiss regulatory counterpart of Packaged retail investment and insurance-based products the second Markets in Financial Instruments Directive investor protection.
Banks with access to DocHub will have a competitive advantage, meeting the requirements of recent and future investor protection regulations with one platform.
Ralf Rühling, senior product manager, financial information, SIX, highlighted: “With regulatory pressure on Swiss banks constantly growing, the need for better access to correct and up-to-date key investor protection documents has never been greater.”
Rühling continued: “We are delighted to offer DocHub to a larger number of Swiss banks through our long-time partner Finnova. With our DocHub platform connected to Finnova, Swiss banks will have access to a deep pool of up-to-date documents that will be fully integrated and automated into their client advisory systems. This will be crucial in cutting down on their administrative burden to remain compliant, allowing them to focus on their core business.”
Dejan Pilav, product manager compliance, Finnova, added: “We are proud to build upon our existing partnership with SIX by providing our core banking software clients with access to DocHub. This innovative documentation platform will allow clients to take steps towards being compliant faster and easier. An important factor for our clients is that there is no additional set-up required on their side, allowing them to make full use of the benefits of DocHub while avoiding any additional risk or administrative costs.”
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