Aquila, which specialises in serving independent asset managers and family offices, is pushing ahead with the automation of its compliance processes. Following a tender process, it has selected the Client Lifecycle Management (CLM) platform developed by Geneva-based software company Wecan.

The solution is designed to cover onboarding, periodic reviews and changes to client relationships across the entire client base. Implementation is already underway, the two companies announced on Tuesday.

AI Remains Within the Bank

A key aspect of the solution concerns the handling of artificial intelligence (AI) and client data. The AI is operated within the bank’s own Swiss environment. According to the statement, no queries are made via public application programming interfaces (APIs), while bank data will not be reused for other purposes.

Wecan employs what it calls a deterministic approach. Put simply, the system is designed to produce reproducible results when given identical input data. Its decision-making processes are also intended to be traceable and auditable – an important consideration for banks from a compliance and regulatory perspective.

According to the companies, this distinguishes the project from numerous AI pilot projects in the Know Your Customer (KYC) field: Aquila does not intend merely to test the technology in a controlled proof of concept, but to deploy it in a live production environment.

Asset Managers and End Clients on One Platform

For Aquila, a particularly relevant feature is that both its affiliated independent asset managers and their end clients can be handled through the same platform. This is intended to enable consistent controls and a seamless audit trail. Previously fragmented processes for onboarding and periodic client reviews are expected to become simpler as a result.

«Our model is based on proximity and trust – both with the independent asset managers who work with us and with their clients, who ultimately are also our clients,» says Martin Rubi, Head Aquila Bank.

Control Over Data and Transparency of Processes

A decisive factor in the tender process was the ability to industrialise onboarding and periodic reviews across the entire chain, from the asset manager through to the end client, while retaining full control over data and transparency over decision-making processes.

According to Aquila, the introduction of the platform forms part of a broader transformation. The company aims to increase scalability and accelerate growth without compromising the quality of service provided to clients and partners.