March 15, 2022
The leading Natural Language Processing (NLP) software provider, Sinpex, and the award-winning core-to-digital solution suite provider New Access SA are pleased to announce their strategic partnership.
Both companies join forces to integrate Sinpex’ Ai solution (Natural Language Processing) into the New Access’ digital front-end solution ‘BankeNew Access ‘Banker’s Front’, is the digital front-end solution that supports the full Client Lifecycle Management (CLM) including client on-boarding and advisory processes. By partnering with Sinpex, private banks and wealth managers benefit from an ideal combination for enhanced and simplified compliance processes. This partnership will allow financial institutions to streamline processes such as KYC & AML, and Onboarding using a single digital wealth management platform and therefore deliver better customer experience.
Integrated into New Access Banker’s Front solution, Sinpex’ NLP software enables the full verification of customer information from documents and external data sources in real time. Advisors will now be able to analyze a high quantity of pages within the shortest amount of time, with over 95% accuracy for standard compliance checks. All data extractions are of course fully tracked and audited. Sinpex solutions allow their clients to reduce their manual costs and errors and accelerate their digital transformation.
“In 2022 companies are still wasting way too much time & money processing documents manually, which is not easy to scale and remains an error-prone habit…”, says Vincent Jeunet, CEO of New Access. “Through this partnership, private bankers and wealth managers will benefit from a complete document analyzing solution, allowing them to gain efficiency and reduce costs & errors through an automated approach. We are very pleased to partner with Sinpex at this regard and ultimately bring solutions to overcome our clients daily challenges and simplify their compliance processes” Camillo Werdich, the CEO of Sinpex, comments: “Adding our deep analytic capabilities to New Access Client Lifecycle Management unlocks End-to-End efficiencies for private bankers and wealth managers.”
Sinpex is a Munich based RegTech company that revolutionizes document based compliance processes. Sinpex reduces the manual effort in collecting and verifying compliance-relevant data while increasing accuracy by using AI and Natural Language Processing (NLP). Compliance processes remain still in snap judgements which are not traceable, affected by human errors, and can end up costing millions of dollars. Sinpex helps its clients reduce risk, save time, conduct more accurate assessments and, ultimately, fight against international crime.
About New Access
New Access is a leading provider of a scalable and modular Core-to-Digital solution suite designed to meet the specific requirements of the private banking and wealth management industry. New Access enables digital transformation and improves client’s satisfaction with its digital front-end solution, including an advisor cockpit, client life cycle management (CLM) and a client/EAM portal. New Access has been operating for over 20 years exclusively in the private banking and wealth management sectors, supporting more than 55 customers, globally.
Sinpex successfully closed a €1.5m seed round. New investors are EquityPitcher Ventures and AI.Fund.
Bayern Innovativ is a subsidy program by the Bavarian ministry of economics which honors outstanding innovations and startups in Bavaria.