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Accelerated Pace: FINMA Tackles EAM License Application Backlog

Since the commencement of the current year, independent asset managers have been mandated to possess a license from the Swiss Financial Market Supervisory Authority (FINMA) in order to conduct business operations. Applicants that have initiated the process for obtaining this license have been afforded a grace period. FINMA has released a status update on this matter.

As of the end of June, FINMA has announced that it has issued a total of 950 licenses. These licenses permit the recipients to operate as supervised independent asset managers (EAMs) and trustees. This constitutes significant progress compared to the 670 licenses that had been issued up until the close of the previous year. Despite this progress, FINMA, in conjunction with self-regulatory organizations, still has a substantial number of applications to process, with the total number of received applications standing at 1,749.

EAM licence & Post-Deadline Submissions:

Out of the 1,699 applications that were received prior to the end of the year 2022, licenses were granted to 888 asset managers and 43 trustees! Notably, eight institutions were authorized to operate as both asset managers and trustees.

Beyond the cut-off date of December 31, an additional 50 applications were submitted. Of these late submissions, FINMA approved ten, with one institution being granted permission to operate as both an asset manager and a trustee.

Industry Turning Point for external asset management?

This regulatory measure represents a significant juncture in the Swiss EAM industry. For the first time in recent years, there has been noticeable consolidation among small and medium-sized enterprises (SMEs) within the financial sector. Notably, 1,060 institutions communicated to the authority in the previous year that they did not intend to submit applications for these licenses.

How InvestGlass can help you keep your EAM license?

InvestGlass provides a comprehensive Enterprise Asset Management (EAM) software solution that is engineered to streamline and automate the operations of asset-intensive industries. Its advanced capabilities include a Client Management System (CRM) and Portfolio management System ( PMS), which empowers maintenance managers to centralize asset information, plan and track maintenance tasks efficiently, and monitor the health of an organization’s physical assets. Through its intuitive asset tracking features, organizations can gain complete control over their fixed and mobile assets, effectively managing aging assets through their entire lifecycle. Both solutions are hosted in Switzerland and can be used on mobile deveice.

InvestGlass’s EAM system is designed to maximize asset utilization by employing preventive and predictive maintenance strategies, thereby reducing maintenance costs and the risk of equipment failure. These strategies, informed by artificial intelligence and machine learning, enable organizations to anticipate maintenance needs based on asset performance indicators and trends.

This EAM software suite further enhances field service management by allowing maintenance teams to access vital asset data and maintenance plans via mobile devices, ensuring equipment readiness and responsiveness in real time. Financial management integration, coupled with robust supply chain management features, helps organizations to maintain optimal inventory levels of spare parts and materials, thereby helping to manage costs effectively. Automation will help you reduce maintenance operations and fuel management with dynamic dashboard and smart reporting. If you have operations in Switzerland and other countries, the solution can fit multiple business processes.

InvestGlass’s EAM solutions also come with the key features needed to consolidate operational applications into a single technology system, enabling organizations to better control operational assets and reduce operational costs. InvestGlass portfolio management solution is suited to track assets… realy any assets (equity, bonds, collectibe, physical assets, fixed assets). It has been built for large banks originally and can also connect with your existing eam systems or PMS. From risk management to asset lifecycle management and work management, InvestGlass aims to be a transformative tool, offering a cloud-based system that ensures organizations can achieve greater control over their enterprise assets, and make data-driven decisions that align with key performance indicators.

In summary, InvestGlass is poised to be an essential partner for businesses seeking to centralize, streamline with artificial intelligence, and optimize their asset and maintenance management processes, driving efficiencies that can significantly impact the bottom line.