Appway, the on-boarding specialist firm headquartered in Switzerland, looked back on what it said was a successful year in 2013, logging “above-average” growth compared with the industry as a whole. It said it expects to take on around 30 new staff in 2014.

Appway, the on-boarding specialist firm headquartered in Switzerland,
looked back on what it said was a successful year in 2013, logging “above-average”
growth compared with the industry as a whole. It said it expects to take on
around 30 new staff in 2014.

The unlisted firm, which is now 10 years old, has over
175,000 users.

The process known as on-boarding relates to how clients are
brought into an institution. The wealth management industry is turning to more
technologically-driven ways of bringing a client on board, as compliance costs
– such as know-your-client checks and anti-money laundering tests – become more
onerous.

“The costs and efforts required on the parts of banks to
understand the impact of compliance regulations, and implement organizational
change, often occupies a vast amount of valuable resources,” Hanspeter Wolf, Appway
chief executive, said in a statement on the past year.  

Appway opened offices in Hong Kong,
Singapore, Geneva
and Ticino over the past 12 months.