MiFID II Compliance for Wealth Management and Private Banking

MiFID II is designed to expand investor protection and to improve transparency. To comply with the exhaustive requirements, wealth management and private banking firms in the EU will be required to change many aspects of their business model, operations, systems, and processes across the front-, middle-, and back-office.

NexJ provides intelligent financial services CRM with business process management capabilities specifically designed to help firms meet new regulatory compliance obligations for MiFID II. NexJ enables firms to break down data silos and automate the processes that prevent MiFID II regulatory compliance.

NexJ enables firms to:

  • Create a holistic, client-centric view of all enterprise data using NexJ’s intelligent CRM
  • Minimize error-prone data entry and manual processing during client onboarding and KYC
  • Ensure all required data is collected and validated during client onboarding
  • Confirm client data is current and targets are appropriate during regular KYC reviews
  • Match product attributes to client objectives and risk tolerance
  • Notify advisors and management when exceptions occur or loss thresholds are met
  • Document all client and prospect interactions in the contact record

NexJ’s intelligent customer management solutions enable firms to meet MiFID II’s standards for:

  • Recording Client Interactions
  • Transaction Reporting
  • Client Categorisation and Product Governance
  • Transparency
  • Suitability and Appropriateness
  • Tracking Costs, Charges, and Inducements
  • Meeting Organisation Requirements

For more information, review our MiFID II Compliance Brochure