Banking software company Temenos launched Apiax and Pushfor onto MarketPlace, its platform that expedites value exchange between fintech providers and financial institutions.
Swiss Regtech company Apiax is involved in the development of advanced tools to enable transformation of complex regulations into easy-to-use and verified digital compliance rules.
Designed to be deployed on the premise or on the cloud, the Apiax platform integrates comprehensive legal expertise and the latest technology to provide the banks with machine-readable and updated solutions to various regulatory aspects and complicated legal areas.
Besides offering clarity and transparency to the legal aspects, the platform will also allow front-line staff to take fast decisions.
Apiax AG co-founder Philip Schoch said: “Financial institutions are facing mounting pressure from regulators. The current approach for complying with regulation doesn’t scale, is too expensive and can easily result in non-compliance and fines.
“This is why we have created Apiax, to provide a scalable, easy-to-use, legally dependable solution to this problem.”
A UK-based firm, Pushfor offers banks a patented solution to share content across any platform.
The technology does not send the content rather it ‘pushes’ it so that the original file continue to remain secure at source.
The solution will reduce financial, security and regulatory risks associated with information sharing as well as track how the viewer consumes the content and then generate usage analytics to turn them into sales opportunities.
Pushfor CEO Mike Williams said: “Once you press send, you lose control over where the information and any attachments will end up.
“Not only is that of great concern for information security, but banks will have to do much better in a GDPR-world where consumer information is sacrosanct.
“Also, by sending rather than pushing content, banks miss out on the metadata to know how to improve it and on the insights that can improve customer retention and generate additional sales.”