Pieter Aartsen is, as we speak, busy setting up Knox: the very first independent custody institution for and by wealth- and asset managers themselves. Knox is going to use Blanco as a technology platform. “In fact, without Blanco there would be no Knox,” says Pieter Aartsen. “Setting up an independent custody institution is no easy task. But thanks to Blanco’s technology and support, it has at least become a bit more simple.”
Why did Knox choose Blanco?
“There are plenty of parties out there that each provide a piece of the technology that Knox needs. But Blanco is actually the only party that offers an all-in-one solution. In my opinion, that has a lot of advantages.”
“When using different fintech solutions, we need to link them ourselves, so that data can be shared between, for example, an onboarding solution and a securities administration solution. I know from experience that this is often technically very complicated and therefore costs a lot of time and money. What’s more, it also requires constant maintenance. The Blanco technology solution makes that superfluous and is therefore much more efficient.”
What else distinguishes Blanco?
“Blanco is about the opposite of what is known in the industry as ‘legacy software’: Blanco uses the latest technology and is completely cloud-based. This has the advantage that the platform can easily scale: And that is very important to us: After all, Knox wants to be able to grow its membership easily. This is no longer a technical problem with Blanco’s software.”
Compliance is important for everyone, but certainly also for Knox. How does Blanco perform in this area?
“Blanco has automated the customer acceptance process, using the latest software. The Client Onboarding module in combination with the Client File module ensures that the acceptance process is properly completed and contributes to the fact that the client file is always complete. The automation of both the acceptance process and the automatic notifications generated by the system ensures that we can meet our compliance obligations arising from legislation and regulations.”
How do you like the cooperation with the people of Blanco?
“In the past, I have sometimes woken up with an IT developer with no affinity for our industry. In all honesty: that was usually a tragedy and cost an enormous amount of time and money. Luckily Blanco is fully run by people from our industry — in every discipline, Blanco employs people who have a lot of experience in wealth- and asset management services. That works very well because they know and understand our wishes and the wishes of wealth- and asset managers like no other”.