ACCLAIM | WEALTHBRIEFING RECOGNISES LEADERS ACROSS THE GLOBAL WEALTH MANAGEMENT INDUSTRY
Descartes Finance Sets New Standard with 15-Minute Digital Wealth Onboarding
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eadquartered in Zurich, Descartes Finance is a Swiss WealthTech company licensed by FINMA. It specialises in digital investment advice (B2C) and software as a service (B2B). It is the only fully independent, ownermanaged Swiss platform. In recent years, Descartes has proven itself, particularly in the area of software as a service (SaaS), making a name for itself as a scalable partner through strategic collaborations with companies such as Yuh, neon, Avenirplus, and Glarner Regionalbank. What has been the most impactful innovation your firm introduced recently, and how has it shaped client outcomes or internal efficiency? At Descartes, we use digital onboarding processes that combine simplicity and security. This was also the goal when we developed and introduced our new onboarding process for our Invest offering (wealth management account) to complete our digital wealth management offering and in addition to our long-established onboarding process for our pension clients in the areas of pillar 3a and vested benefits. For this new process we use a risk-based approach, offering a streamlined Know Your Client (KYC) process to clients in domiciled in Switzerland with assets up to CHF 250,000. This intelligent approach allows us to tailor the account opening process to each client's situation, making it efficient while fully complying with regulatory requirements. Clients benefit from a secure yet streamlined process and can open a wealth management account in less than 15 minutes using a qualified electronic signature (QES). The onboarding for a pillar 3a or vested benefits account is an even faster process that can be completed in around five minutes. We designed our processes to reduce complexity and save time without compromising security, compliance, or client experience. Thanks to these processes, we were able to significantly reduce the dropout rate.
What role has collaboration – either internally or with external partners – played in your success? Collaboration is a key factor in our success. We maintain an open, flat internal structure that promotes communication between all parties. We deliberately incorporate different perspectives to make informed decisions. Our strategic partnerships with neobanks and our custodian bank help us continuously improve our product. Close communication with these partners allows us to develop quickly and find solutions swiftly. This benefits all of our clients. What are the key challenges you foresee in wealth management over the next five years, and how are you positioning your business to meet them? The industry is facing several challenges, including increasing market complexity, rising regulatory requirements, technological changes, and a generational shift among many clients. In response to these developments, we are making targeted investments in technology, continuously developing our governance structures, and offering clients services that focus on transparency and accessibility. Our goal is to remain a reliable partner for long-term asset management, even in a changing environment.
Rea Vogel Business Manager Descartes Finance AG
What does winning this award mean to your firm, and how will you use this recognition going forward? This award confirms the value of our processes. It proves that our client onboarding processes are one of the best on the market. It recognises the hard work of our entire team. Furthermore, this award solidifies Descartes' position as the software integrator for digital client management. At the same time, we view this award as an obligation to maintain our high standards. It bolsters the trust of our client and partners and motivates our team to continue on this path.
Winner • Most Effective On-Boarding Procedure
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