Swissquote Bank selects NetGuardians solution for data confidentiality compliance

Yverdon-les-Bains, 28 April 2016 – Swissquote Bank has selected a solution by Swiss fintech innovator NetGuardians to ensure continuous controls for client data protection and regulatory compliance.

Swissquote Group is Switzerland’s leading provider of online financial and trading services. With online security and regulatory compliance being key challenges for all Swiss banks, Swissquote is dedicated to protecting client data confidentiality and to ensuring transparency and compliance. To better achieve these goals, Swissquote Bank required a complementary control solution for their T24 core banking platform.

Swissquote selected the RiskGuardian solution by NetGuardians, a leading banking software company based in Yverdon-les-Bains. NetGuardians is recognized for its revolutionary solutions to control operational risk from business operations to IT. RiskGuardian includes the NG|Screener enterprise software platform along with predefined controls for specific regulations, such as the FINMA 2008/21 Appendix III regulation related to client confidentiality. It automates continuous auditing, saving time and reducing human error. Real-time alerts and automated reporting allow rapid intervention to any exception events and easy proof of compliance.

“We were won over by the NetGuardians solution on a number of levels,” says Marc Furrer, Swissquote Head of IT and Security. “The NetGuardians team took a consultative approach and was able to fully understand our needs. Their solution is designed specifically for rapid integration into our T24 system, so it was ready-to-go and easy to implement. On a daily basis, it offers a solid control with very straightforward management that gives us peace of mind.”

“As a fintech innovator we aim to bring added value to financial institutions,” says NetGuardians CEO Joël Winteregg. “It is estimated that Risk or Information Security Officers spend about 50% of their time manually capturing required data across the bank’s entire system to demonstrate compliance. Our RiskGuardian solution eliminates that hassle through predefined controls that ensure pertinent Big data capture, continuous auditing, and automated reporting – all of which ease compliance. Swissquote’s nod of confidence shows us that we offer true added value to them and to other Swiss banks.”

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