Capital Banking Solutions is a Software publisher and integrator of innovative solutions for financial institutions, adapted to international establishments of all types. We spoke to Christophe BRISSON, Director of European Operations.
You are an example of how a Monegasque company can invest in international markets.
CBS's Wealth Management and Compliance business was born in Monaco, where we have our development teams and a service center for Europe with over 60 staff. We are also international, present with our 300 expert staff in Paris, Switzerland, Lebanon, Dubai, Côte d'Ivoire, Morocco and the USA to distribute our solutions, guarantee the follow-up of our services and ensure proximity to our customers. IntellEval, our center of expertise and training on Compliance, offers assessment, training and consulting solutions on Compliance, Anti-Money Laundering and Terrorist Financing. IntellEval is a partner of the AMAF and the IUM as part of the certification program for market professionals, and has been involved in confidentiality certification since its inception.
You often say that technology can raise the bar in Wealth management. How can it do so?
By digitizing and customizing processes.
We offer open-architecture, modular solutions, available in the cloud, on-premise and soon as SaaS. Our Wealth Management platform, CapitalPrivate™ is deployed in Private Banks and Asset Management companies in Switzerland, Monaco and Paris, it covers Portfolio Management (PMS) and Customer Relationship Management (CRM) needs, from On-Boarding (digitization of processes and electronic signature) to Know Your Customer (KYC) and its internal regulatory requirements (including KYC reviews, MiFID questionnaires, etc.). It integrates business and regulatory processes (Advisory, MIFID, LSFIN), addresses ESG issues and extends to a wide range of products such as private equity and, more broadly, non-financial assets.
To address digitalization projects we offer a complete module (Web and Mobile), CapitalDigital™. This Digital Banking platform opens up the viewing of outstandings and documents to end customers, facilitates exchanges between Customer and Bank, offers the full range of payment services and can be extended to transactions. CBS offers it as an option, depending on the final scope of the project.
The fight against money laundering is making compliance increasingly stringent. Do you have any solutions to simplify KYC?
We have developed an offering around compliance, CapitalCompliance™ which is a widely deployed solution that covers the compliance requirements of modern financial institutions: AML, Blacklists Screening, KYC, Analyses and Reporting required by the authorities (Suspicious Transaction Reports, FATCA, CRS, Eckert, COSI and STRIX) and Adverse Media Screening through our partnership with Polixis™.
What's the key to successful digitalization?
Direct exchanges with the teams in charge of Wealth Management, IT, and our CBS teams are better than marketing promises that are always overrated and often developed outside the priorities and context of Monaco and Europe.
What are you working on at the moment?
First of all, we're moving towards the implementation of packaged solutions.
Some subjects are driven by regulations (such as ESG) or market conditions (such as private equity), while others, such as real-estate, are emerging or opening up new investment prospects (Cryptos).
Then we integrate the evolution towards Self Care and SaaS.
Technology makes it possible to adapt the context to customer expectations, and more and more actions are transferred to the customer, who "works in the banker's place". Service has to adapt, and added value is shifting - we anticipate and enable this.
Security and confidentiality remain at the heart of our business, but this no longer translates into a rejection of SaaS solutions, as the financial argument takes precedence.
Finally, AI is being integrated into all areas of Compliance, CRM and PMS.
We can now put AI to work in almost every area of our business, even if its footprint remains timid in Wealth Management (Robot Advisors, Personalized Proposals, etc.).
In Compliance, Machine Learning and Natural Language Processing (NLP) have enabled us to make significant advances in Adverse Media Screening. CBS, for example, has set up a partnership with Polixis, a Fintech specialized in this field, to integrate its solution and enhance our dedicated module.
This should not obscure the fact that we are continuing to work on automating processes to enable digitalization - AI isn't always needed for that! There's still a place for people and experienced professionals.
