Listed fintech Cashwerkz has partnered with Complii FinTech Solutions; a secure, centralised digital platform, to automate the compliance process for stockbrokers and financial advisers.
Complii software automates, records and reports on regulation requirements by ensuring ongoing compliance is carried out at both client and organisational levels. The digital platform also creates an automated end-to-end capital raising solution for both retail and institutional clients.
Executive chair at Cashwerkz John Nantes says the alliance will help solve some of the financial services industry's compliance issues.
"We are really delighted to announce this strategic partnership as we collectively solve significant compliance cash and fixed interest problems for the advisory community to help them all act in their clients' best interest," Nantes said.
The partnership will allow brokers and financial advisers to focus on clients, rather than manual paperwork.
Nantes said the new automated solution will improve efficiency and accuracy levels by providing AFSL holders with the technology to "identify, automate, record and report on the cash investment transaction."
Complii managing director Alison Sarich says the partnership demonstrates how the fintech industry continues to innovate and disrupt manual processes in industries.
"The entire process for sourcing, placing and reporting on the neo-cash marketplace just became so much easier, whilst being more compliant than ever. This further frees up AFSL holders and brokers to focus on their clients, and not worry about manual paperwork and the issues that surround this," Sarich said.
Brokerage houses already using Complii can now access the Cashwerkz platform.
Complii is currently used by brokerage leaders Shaw and Partners, Canaccord Genuity Patersons, Argonaut Securities and Blue Ocean Equities.