A well-connected Swiss regtech startup has added an ex-banker to its board of directors. He is a former top manager of banking software maker Avaloq.
KYC Spider appointed Tobias Unger to its board of directors, according to a statement the Zug-based firm released on Monday. The 43-year-old Swiss citizen has also taken a stake in the startup.
Unger has been with a number of well-established Swiss companies in the past, with 15 years spent in the banking industry. He was chief operating officer of Falcon private bank in Zurich when he left in July 2016, shortly after the involvement of Falcon in the money-laundering scandal in Malaysia became known. Falcon is now being liquidated.
Ex-Avaloq Switzerland
In 2016, Unger joined the management team of Avaloq, the banking-software firm. He was in charge of the company’s outsourcing and in 2018 assumed control over the markets in Switzerland and Liechtenstein. In May 2019, Unger left Avaloq,
On the board of KYC Spider, he will another ex-Avaloq manager: Markus Groeninger. The ex-head of Avaloq-BPO unit B-Source and head of the Swiss market of Avaloq left the company in 2018 when he was chief markets officer.
Zurich Insurance as Prominent Client
In addition to Unger and Groeninger, the board has a third member in Peter Schaeuble, owner and CEO of Eurospider, whose software is being used by KYC Spider. The chairman is Luka Mueller-Studer, partner at law firm MME.
Miki Vayloyan is the CEO of the regtech, which has excellent connections to the fintech cluster in Zug. One of the clients of the firm is Bitcoin Suisse. Others include Lykke, Yapeal and Neocredit as well as Zurich Insurance.
KYC Spider increased its turnover by 70 percent in 2019 and has said that it received more requests for its services after the outbreak of the corona crisis.
