Since 2014, Privatam's mission has been to democratize access to customized investments for wealth managers, family offices and financial advisors around the world. Privatam is the first independent WealthTech to open the door to a fully digital bespoke investment experience. It aims to complement any traditional portfolio consisting of stocks, bonds, and other traditional assets, with investments that will perfectly match investors' risk/return profiles, opening endless possibilities.
A market issue
In Monaco, companies in the financial sector are regulated by the Commission des Activités Financières (CCAF) as far as financial activities are concerned and the Service d'Information et de Contrôle sur les Circuits Financiers (SICCFIN) as far as the fight against money laundering, terrorist financing and corruption is concerned. In this context, the recording and conservation of data is a significant element of attention for Privatam.
The challenge
Since the beginning of 2020, Privatam had the desire to transform its entire infrastructure from a 100 per cent on-premise system, based on a legacy telephony system, local servers, and physical hardware to maintain, to a 100% cloud system. After adopting Microsoft Teams cloud telephony, Privatam sought a recording solution that was fully compatible and integrated with Microsoft Teams. "We wanted to be able to use Microsoft Teams in full functionality", Islem Benmeddah, Infrastructure Manager at Privatam.
A choice of confidence
Privatam's goal was to create a fully functional infrastructure around Microsoft Teams, once the telephony was installed, all they needed was a recording system. To find the most suitable and compatible tools, they turned to partners and solutions certified by Microsoft, which is how they discovered our cloud solution ASC Recording Insights. "After having tested our native application in Teams for one month during a POC, a trial of the solution, our recording solution convinced them," says Eric Buhagiar, General Manager of ASC Technologies France.
Compliance of the registration
In this company of about 40 people, half are registered for compliance purposes. Privatam is part of the financial sector and is therefore subject to the various laws on financial activities, which require it to keep track of various communications involving financial transactions, transfers, payments, operations that confirm financial orders. For this company, this mainly concerns the sales staff and the product structuring department.
A strategic partner
Privatam was accompanied by NXO in the choice of tools in line with the company's transformation context. "It was important to provide Privatam with a complete telephony ecosystem adapted to the legal constraints of the financial sector and to fully support them in their digital transition," explains Céline Capet, Manager of the Communication & Collaboration Division at NXO France.
NXO also implemented the telephony gateway between the operator network and the Microsoft ecosystem (SBC), as well as a compliant registration service. The expertise and proximity of the teams allowed a rapid implementation of a complete collaboration environment, in compliance with regulations and in record time.