The ObjectWay Financial Suite platform comprises two solutions that meet requirements for the prevention of money-laundering and the monitoring of distribution networks:
ObjectWay TA Web-Distribution Network Audit provides support for the internal audit of distribution network operations.
Developed in line with ASSORETI recommendations, the solution analyses master data and details of transactions thus providing the heads of internal audit departments with an instrument to monitor distribution network operations through analysis of suspected irregular data and transactions.
It is possible to use ObjectWay TA Web for the analysis of irregularities using three different variables: Indicator of Irregularity, Financial Advisor and Audit Period
The solution permits each indicator of a suspected irregularity to be configured based on criteria determined by the internal audit department thus permitting the specification of the cases to be analysed in detail. Examples:
Two types of statistics are generated to provide general indications of irregularity in advisor networks:
The solution also includes additional support tools in the form of analyses by financial advisor and the results of internal audits conducted on site. The analyses made by internal auditors are archived thus permitting to identify the recurrence of irregularities over time. It is also possible to determine potential economic loss due to irregularities caused by any one particular advisor
ObjectWay TA Web-Distribution Networks Audit is an integral component of the ObjectWay Financial Suite.
ObjectWay Financial Intelligence meets the needs of brokers registered with the Italian Foreign Exchange Office to comply with statutory requirements relating to the prevention of money laundering (Law 197, as amended) in as far as the Financial Intelligence Unit (FIU) is concerned.
Compliance of ObjectWay Financial Intelligence with the requirements of the Italian Foreign Exchange Office is certified
The prime functions of the application are:
The solution’s modular and open structure means that it is extremely easy to modify functions and other features following changes in the regulatory framework.
ObjectWay Financial Intelligence is an integral component of the ObjectWay Financial Suite
WHO & WHAT
Fineco Bank – UniCredit Group, with a network of 3000 Personal Financial Advisors, 865 thousand customers and 30 billion in assets under management, selected ObjectWay Financial Software to support customer management and advisory services in preparation for MiFID.
The platform includes the Personal Financial Planning, Portfolio, MiFID Adequacy and Appropriateness modules to support its advisory services.
It is a flexible and outstanding solution for the provision, through a single access point, of the functions and data necessary for customized and real-time advisory services.
The UBI Group selected OFS Advice - Portfolio, ObjectWay Financial Advisory and ObjectWay ANT – Distribution Networks to support its network of approximately 1,000 tied agents, advisors, private bankers and brokers.
One of the key advantages for UBI of ObjectWay is the flexibility of the software in handling different types of fee income and expenses for the networks of each bank of the UBI Group: Financial Advisors of UBI Banca Private Investment, Banca Popolare Commercio e Industria brokers and Banca 24x7 brokers and financial services agents.
MONTE DEI PASCHI PROMOZIONE FINANZIARIA
Monte dei Paschi Promozione Finanziaria is a unit of the Monte dei Paschi Group that has a network has more than 1,000 Personal Financial Bankers and financial advisors.
The Consorzio Operativo, which is a Montepaschi Group service company, selected OFS Advice - Portfolio, ANT Distribution Networks and MBO and Incentives software to support the bank’s operations.
Allianz Bank Financial Advisors is the multichannel bank of the Allianz Group in Italy. It operates in the insurance and asset management sector through a network of approximately 3,000 financial advisors and 12 branches, and has assets under management (funds, wealth management, life insurance and custody) of nearly € 20 billion.
Allianz selected ObjectWay ANT for the administrative and commercial management of its sales network. Its Internal Audit Department uses ObjectWay TA WEB to monitor advisory services as recommended by Assoreti, the Italian association of financial advisory firms.