Through engaging with customers, prospects and regulators, FIN|SOFT identified the need for a new solution which could assist asset managers and distributors manage where and how their products are being sold. We believe that oversight can only be achieved via a multi-pronged approach:
FIN|SIGHT was developed with this in mind.
New regulations are transforming how asset managers oversee their target markets and distributors – MIFID II, CSSF Circular 18/698…Regulators need to ensure that asset managers can answer the following questions:
Digitising the due diligence of your Target Markets and fund distributors is essential to meet regulatory requirements. However, there are also commercial benefits such as improved relationships with distributors and a better understanding of end investors. FIN|SIGHT allows you to automate the management of your target market data and oversight of your distributors. Our solution ensures that your risk functions are mitigating distributor risk while your front office functions are focused on growing your business.
FIN|SIGHT allows you to centralise and manage your target market data in one location. Control over your target market data is given via 4 eyes principle, audit trails, reporting and EMT dissemination. The platform is accessible by distributors so that data can be exchanged (sales, negative target market, agreements, complaints…). FIN|SIGHT gives users alerts and notifications to ensure that target market data is being reviewed and kept up to date.
Conducting initial and ongoing due diligence on a large number of fund distributors is a time-consuming task. FIN|SIGHT lets you automate due diligence processes, including online questionnaires, sanctions screening and risk rating which can significantly increase efficiency while, simultaneously reducing operational risks.
Asset managers who outsource distribution are responsible for selecting distributors and the ongoing monitoring of their activities. FIN|SIGHT implements a consistent and robust risk-based approach towards Distribution Oversight. Thus, it ensures compliance with regulatory requirements while mitigating risk on the asset managers distribution network.
FIN|SIGHT breaks down sales and holding data via dashboard, KPI and ad hoc reporting. This gives asset managers powerful insights into their distribution network which allows distribution networks to be revised, expanded or scaled down. Furthermore, 4 eyes implementation within FIN|SIGHT allows the full oversight process to be evidenced to regulators via reports.