NexJ Contact for Finance to streamline Know Your Client process
TORONTO, Oct. 29, 2013 /CNW/ - NexJ Systems Inc. (TSX: NXJ), a provider of cloud-based software delivering enterprise solutions for the financial services, insurance, and healthcare industries, today announced the United Kingdom private banking division of a major global investment bank will streamline their Know Your Client (KYC) process with NexJ Contact for Finance.
NexJ was selected after an on-site proof of concept proved the robustness and flexibility of the NexJ solution. NexJ's customer data integration, application orchestration and flexible workflow capabilities were selected as best-in-class for private banking needs.
In an industry bound by regulatory obligations, investment advisors must manage complex client portfolios while delivering both superior service and proof of adherence with regulations. Multiple systems and broad geographic dispersion make it difficult to demonstrate compliance with evolving regulations related to KYC and Anti-Money Laundering (AML).
According to CEB TowerGroup Senior Director Peter Delano, "The constant regulatory pressure on private banks requires them to implement technology strategies that can handle today's mandates as well as adapt to what may come from regulators tomorrow."
NexJ solves this problem by consolidating systems containing customer information into an Integrated Advisor Desktop. The NexJ solution makes it possible to access all enterprise information about clients, their finances, relationships and spheres of influence and then coordinate client-facing processes such as KYC reviews. NexJ streamlines the capture of KYC data and routes it for review and approval. KYC forms and processes are easily modified by business users, enabling quick response to changing regulations and business needs.
"As the leader in enterprise CRM for wealth management, we are pleased to be adding this prestigious firm to our family of customers," said William M. Tatham, Chief Executive Officer of NexJ. "We believe that KYC and AML processes based on an enterprise view of the customer greatly reduces the burden of regulatory compliance and gives advisors more time to better sell to and service their private banking clients."
This project started in September and will continue through 2014.
About NexJ Systems Inc.
NexJ is a provider of cloud-based software, delivering enterprise solutions for the financial services, insurance and healthcare industries. Our next-generation, people-centered software combines industry-specific functionality with information from multiple applications and data stores to provide comprehensive knowledge of the individual.
NexJ is named as Canada's fastest growing company in the 24th Annual PROFIT 200 ranking by PROFIT Magazine, and ranks in the top 5 of the Deloitte Technology Fast 50™ for the third consecutive year. Based in Toronto, NexJ has clients throughout North America and in Europe. For more information about NexJ, visit www.nexj.com, e-mail [email protected], or call 416-222-5611. Join us on LinkedIn, follow us on Twitter, subscribe to our YouTube channel, like us on Facebook, or hang out with us on Google+.
NexJ Forward-looking Statement
Certain statements in this press release may contain words considered forward-looking statements or information under applicable securities laws. These statements are based on NexJ's current expectations, estimates, forecasts and projections about the operating environment, economies and markets in which the company operates. These statements are subject to important assumptions, risks and uncertainties that are difficult to predict, and the actual outcome may be materially different. NexJ's assumptions, although considered reasonable by the company at the date of this press release, may prove to be inaccurate and consequently its actual results could differ materially from the expectations set out herein. For additional information with respect to risks and other factors which could occur, see NexJ's securities filings with the OSC and other securities regulators. NexJ securities filings are available on www.sedar.com. Unless otherwise required by applicable securities laws, NexJ disclaims any intention or obligations to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE: NexJ Systems Inc.
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Director, Corporate Communications
NexJ Systems Inc.