VELA - RegTech Solution
RegTech is generally referred to as the optimisation of regulatory processes in the financial industry by applying technology.
AvelaLaw has developed a specific risk and compliance application with the objective to improve our clients’ internal control system and governance. The offering is very flexible, and clients can choose depending on their demand on a modular basis.
One digital solution, many modules, all control aspects covered – supporting your ICS for a solid corporate governance
VELA is the right solution to manage risk and compliance matters as lean and efficiently as possible. This enables our clients to remain focused on their main business activities without distraction.
Our experience shows, most businesses – irrespective of their size – are constantly distracted from the value creation processes by their regulatory or administrative burden. Due to their wide range of background and experience, our seasoned team members understand the needs of the clients. This allows competent support of our clients to efficiently master their regulatory affairs.
We help our clients to analyse their organisation for potential regulatory shortcomings and we digitalize their risk and control framework. We digitalize the process and policy framework, to build on top the following service modules which the client can select according to its needs:
VELA is an application for businesses of all sizes that builds on various modules. As a complement, clients can select additional services, such as compliance outsourcing to AvelaLaw AG for example. Depending on the modules selected by the client and additional services requested, we are able to provide clients with a competitive and detailed offer that suits their business and capabilities.
Our aim is to find the best solution for our clients, combining high quality standards with an interesting pricing. Let’s discuss your needs first and get in touch with us!
You have questions and need individual advice? Let our professionals advise you.
Please answer 5 questions and leave us your contact details. We will present the functions of the software to you in detail in a joint meeting.
To which size category does your company belong
There is a number of reasons for selecting VELA:
- It enables you to achieve the highest degree of transparency and control within your organisations and to efficiently master your regulatory requirements with fully audit proof documentation.
- VELA allows you to choose exactly the right elements from a range of modules to cover your specific needs.
- VELA can be implemented in basically no time. You can start with one module and add more modules as required going forward.
- The application was developed inhouse by our seasoned business managers, based on many years of experience in the financial services industry – a service from professionals to professionals!
No, there are no technical requirements, as users only need a standard browser such as Edge (former Internet Explorer), Google Chrome or Safari to work with the tool.
In case you want to host the data or the whole system on your own infrastructure, we need to look into your IT environment to ensure high quality performance and good user experience.
We give our clients the flexibility to either host their data on their own servers and IT infrastructure, or alternatively we offer a cloud solution for a small fee. Said cloud solution is 100% Swiss based and fully redundant. We are happy to discuss security related features in a bilateral conversation. Rest assured we have put in a great deal of effort into our security features.
Even though, the tool was developed in the first place purely for financial services companies, such as banks or asset managers, it turned out that it can also be useful for other sectors and industries. Basically, every business which requires an Internal Control System, can take advantage of our application.
If clients require features, which are not part of any module as per yet, we are more than happy to find a solution with our engineers. Nothing is impossible, but we need to ensure the right balance between resources and practicability. Our client reporting feature for instance, can be completely tailored according to the client’s preferences and needs at any time, if the existing reporting features do not suffice.
Of course, we are prepared to help our clients when it comes to unexpected technical issues. Every client has relevant contact details to personally approach one of our team members.
The Italian word ‘Vela’ translates to ‘sail’ or ‘canvas’ and we were looking for a name that best pictures and describes our intention: An application and tool that drives the forward motion, while successfully navigating through choppy waters, like e.g., ever evolving regulatory matters.