The dematerialization of the fund subscription process
In an increasingly complex and competitive environment, Management Companies are turning to digitization to change and remain competitive. In order to support this transition, MIPISE, a fintech company specializing in the digitization of financial processes, has developed a new offer dedicated to Management Companies, Private Equity Funds and Wealth Management Advisors.
Jean-Michel Errera, CEO and Co-founder of MIPISE, presents this new dematerialized workflow tool that simplifies complex subscription processes in compliance with regulations.
1) The world of private equity is changing, what are the new challenges addressed by Asset Management companies ?
CEO & Co-founder MIPISE
Digital technologies provide new opportunities to the financial sector, enabling it to optimise business processes, to secure operations, to adapt to regulatory changes and to respond to new customer uses.
Management Companies are strongly willing to commit to transforming their activities towards a platform of services that simplifies the entire investor process, in particular the subscription form, a long and laborious process which is costly in terms of control and not suited for new client uses or for the satisfaction of investors and partners (distribution network, WMA, etc).
"Management Companies are strongly willing to commit to transforming their activities towards a platform of services that simplifies the entire investor process".
In response, and with the aim to support the digital transition of the financial sector, MIPISE has developped a technical solution that dematerialized the fund subscription workflow.
2) What are the characteristics of the digital fund subscription workflow solution developed by MIPISE ?
MIPISE has used its expertise in creating white-label solutions with regulated financial third-parties to develop and offer a fully digital fund subscription process. This solution speeds up, simplifies and makes the entire investor process more reliable, from investor onboarding to subscription form editing and electronic signature. The tool offers a dynamic subscription workflow through a 100% online platform, scalable and fully customisable, accessible anywhere at any time, compliant with regulatory requirements and that meets new customer expectations.
It is a revolution in the field of investor subscription. We have developed a tailor-made product capable of adapting to each fundraising event, and of operating all the requirements of the subscription form. Data is centralised for better file tracking and supporting documents (KYC) and subscription forms are stored in accordance with current regulations.
Each user has a secure and differentiated account (Middle-office, compliance, investors, WMA, etc.), investor qualification and suitability questionnaires are dynamic and the electronic signature is accredited to international standards.
This allows significant time to be saved for the entire investment chain, the underwriting duration process is divided by 10, and the customer relationship is streamlined.
"It is a revolution in the field of investor subscription, we have developed a tailor-made product."
3) How do you support the Asset Management Companies in the deployment of this digital solution that radically alters the investment process ?
A tailor-made industrialized offer requires an understanding of the constraints and features specific to each Management Company, MIPISE has developed a three-step methodology that takes this into account.
The setting up of the solution requires prior consideration of the specific needs and/or constraints of each Management Company. We offer 2 to 3 half-day workshops to determine customized needs (investor questionnaire and graphic aspects), possible additional developments and any other requests, such as connecting to third-party systems, adding a new module, etc.
"This solution speeds up, simplifies and makes the entire investor process more reliable, from investor onboarding to subscription form editing and electronic signature."
Once the specifications have been approved, MIPISE launches the production phase of the tool within 6 weeks. The set-up is conducted according to a proven operating order including:
- The configuration of the solution and the selected functionalities,
- The integration of the subscription form and the information of the variables,
- The realization of any specific developments,
- Graphic customization,
- A sequence of tests,
- A period of training and skills transfer,
- The start of production.
The last step of our methodology is a long-term support. MIPISE is more than a mere supplier of white-label software and it supports each of its customers after the launch of the platform, providing logistic, technical and customer support services.
4) As a leader in the creation of white label crowdfunding platforms, what has been your approach to understanding the world of Private Equity and meeting its digitization needs?
Michel Ivanovsky, Chairman & Co-founder of MIPISE, and I are two former managers and bank consultants. We both worked with large groups, and we have technical skills in payment systems. We have long been close to the world of Private Equity, it is a market whose specificities, operating methods and mechanisms we understand.
With the economic and financial crisis of 2008, we saw the limits of the financial system and the need to open its doors and make it more agile and accessible, thanks to the digital opportunities that were emerging.
MIPISE was created on these foundations in 2013, with the aim of anticipating the needs of the financial sector and responding to the many concerns of managers who wish to undertake the digital transition of their businesses and services.
Today as a leader in the creation of white-label solutions for regulated intermediaries our legal and technical expertise has led us to produce a tool dedicated to Management Companies, Private Equity Funds and Wealth Management Advisors, in order to support them in the transformation of their activities.
"We have long been close to the world of private equity, it is a market whose specificities, operating methods and mechanisms we understand."