World Premiere: Development of Financial Passport across all sectors with Alain Broyon – Money-ID
Over a year and a half has passed since Alain Broyon stepped down as CEO of technology-led Dukascopy Bank SA, marking the end of a 10 year era. Since quietly moving on, Mr. Broyon has majored on his great interest in fintech, social media and pushing the boundaries of development, which has led to his […]
Over a year and a half has passed since Alain Broyon stepped down as CEO of technology-led Dukascopy Bank SA, marking the end of a 10 year era.
Since quietly moving on, Mr. Broyon has majored on his great interest in fintech, social media and pushing the boundaries of development, which has led to his involvement in some new projects, based in Geneva and Monaco.
Speaking today to Andrew Saks-McLeod, Mr. Broyon reflected very briefly on his achievements at Dukascopy Bank, recalling “It was a very nice experience and a good journey, which I very much enjoyed” before moving onto a very interesting and disruptive new technology which is currently approaching launch.
Money-ID, a financial passport
“Along with a series of very experienced professionals, I am developing Money-ID with Olivier Collombin, former capital partner of the Swiss private bank Lombard Odier” explained Mr. Broyon.
“This company’s ethos is to facilitate the interaction between individuals and the financial world. We are creating a digital financial passport, which will certify that clients’ money is “clean”, that it is AML and tax compliant. Individuals will be able to share their financial passports partially or fully with anyone, with any compliance department in any institution worldwide.”
In terms of the development of this new technology, Mr. Broyon explained “We are developing this new solution with the target to be 100% automatic”.
Blockchain on the agenda
Mr. Broyon further explained how the technology will be further developed, and as blockchain is currently a very widely regarded method of keeping costs down and automating everyday banking procedures, this features may have a priority in the development of the new system. “We are looking on the possibility to use smart contracts on blockchain” revealed Mr. Broyon.
“We are working with a lot of different, highly experienced people with vast global expertise with regards to operations, legal and R&D. When establishing such a Financial Passport, we have to bear in mind the legalities which include AML requirements, tax issues and banking practices in different regions worldwide, as well as ensuring that we have the right specialists in data protection.
Talking of introducing totally new technology, we are also looking at bimodal biometric recognition which involves different recognition solutions as an innate feature in our new system. We are also looking into Artificial Intelligence in the media. We are at the beginning of this particular project and expect launch in beginning 2017. There has been so many pressure within the compliance world recently, and we view our new development as a means of mitigating this considerably explained Mr. Broyon. “Everyone says it’s impossible but if you do it then you can revolutionize what is happening in the financial world” – Alain Broyon.
Mr. Broyon added: “At the top of this money certification, individuals will also be able to access an online community in which all members will have gone though the same process, a clean money community”.
Social network to power the individuals
Mr. Broyon has long been a champion of the social network cause, his past success in innovative social trading platforms. He truly understands the value of communities as far as facilitation is concerned. For Mr Broyon, online communities can be developed cross-industries, and applied to other business models. He is majoring on communities, involved in development of different online communities, from finance (E-merging.com) to movies (E-Moovie.com).
E-Merging.com: A Financial community managing $400 billion
Mr. Broyon is as well bringing his expertise in E-Merging.com, an international network of independent finance experts managing 400 Billion USD. This financial community has been created by Olivier Collombin in 2009, inside the Swiss private bank Lombard Odier. From October 2015, E-Merging is independent and has plan to expand worldwide. Eventhough E-merging is already gathering members from over 50 countries, we’d like to increase our international presence focusing on Asia, UK and Americas, stated Alain Broyon.
In parallel to this financial community, an innovative solution was launched, to offer the possibility to individuals to request wealth management quotations. “In the last 3 months, we have launched Monfric.ch and Monfric.fr (French language euphemism for “my money”) as an online way to request wealth management quotations. It is surprising how this service got instantly success. Currently, this solution is dedicated to Swiss or French individuals but we are planning to launch such solution worldwide” mentioned Alain Broyon.
E-MOOVIE: Gathering producers, directors and investors
Another social network which keeps Mr. Broyon’s heart is E-Moovie.com, a social network which gather producers, directors, investors and whoever has an interest in films or documentary production.
The first movie called “The Vape Wave” focuses on the way that electronic cigarettes have taken the world by storm, it was produced by Jan Kounen.
The current movie is a documentary with M. Mikhaïl Gorbatchev about the current nuclear rearmament and the probability of a 3rd World War, produced by Leila Conners. In parallel the platform is also supporting the new documentary from Eric Valli (oscar winning director): Beyond the clouds. An incredible journey with the isolated Nepalese people after the April 2015 earthquake.
In conclusion, Mr Broyon mentioned: This is a very interesting time at the moment. A lot is going on in the fintech; from online communities’ development to financial passport. Join the E-Merging community and watch out the launch of our prototype at the end of this year!”