The latest news in investment offerings, financial products and other services relative to wealth advisors and their clients.

Saffery Trust Switzerland
Saffery Trust Switzerland has partnered with Geneva-based data security firm, Wecan, to offer data security and efficiency in sharing documentation with intermediaries.

Wecan's secure data management services are built on blockchain technology, the firm said in a statement. Following its launch five years ago, Wecan helps over 100 financial service providers including banks, external asset managers and auditors.

The Wecan platform acts as a digital vault, mitigating data security risks and providing heightened efficiency for sharing data when required. It also provides compliance monitoring, biometric security, secure communications and blockchain audit services. Wecan members can interact directly through the platform.

Governance of the Wecan platform is managed through the Blockchain Association for Finance.

Wecan chief operating officer, Nathan Douet, explained that the platform was designed to provide data management solutions. “Data security is a key consideration for any organisation and reducing risk is paramount. Potential issues surrounding data management include difficulty ensuring information is up to date, data being spread over multiple platforms, the use of unsecure email attachments, and the ecological impact of sending large files,” he said.

“We take our data security responsibilities seriously and were impressed by Wecan’s use of blockchain technology to offer enhanced solutions,” Saffery Trust Switzerland managing director, Paul Tucknott (pictured), added.