Sebastien Prat RegTech Startup in Monaco is the latest of two Monegasque entrepreneurs, Sébastien Prat, partner of the consulting firm Phoenix Consulting Monaco, and Pierre-Alexandre Rousselot Director of KeeSystem,a Monegasque WealthTech,.

Sebastien Prat presents this new-born startup specialized in RegTech. incubated at MonacoTech in 2020

Indeed, we had the privilege of being selected by MonacoTech to launch our startup there. Our company aims to develop a software suite that supports our customers in meeting their regulatory obligations. is a RegTech because it combines regulatory expertise with technological mastery to provide a turnkey and scaled solution to its Monegasque customers.

The positioning of this startup in the Monegasque ecosystem

The first market that we are targeting is that of the banking and financial world. We offer softwares particularly helping players in this sector to meet their obligations such as “KYC” (identity verification of their customers and associated risks), “AnaCredit” (monthly reporting by Monegasque banks to the Bank de France), or the “CRS” (information exchange between banks and tax services).

Our solutions are designed to be adapted both in terms of design and in terms of complexity to market players, for whom existing market solutions are almost systematically oversized and far too expensive. They will be usable in SaaS mode because we plan to host them on the Sovereign Cloud as soon as it becomes operational.

Deployment of Blockchain and AML/CFT

Blockchain makes it possible to secure a transaction, without systematically resorting to a trusted third party (traditionally banks) and by including the impossibility of modifying data on counterparties.

However, the work of verifying and validating investor information must be carried out upstream of any transaction. It is therefore essential that the quality of KYC be optimized and more reliable – this is precisely what we offer.

Regulatory advances in this area are unique in the world, and we are fortunate to live in a pioneering country in this area. Monaco will therefore have to implement all the necessary means to ensure the transparency and reliability of transactions from an AML/CFT point of view, which will generate a feeling of confidence from all the players’ side in this sector in regards to the local Place.

In addition, regulation has enabled the creation of a primary market for digital assets: for the benefit of this breakthrough, it will be necessary to ensure that it gives rise to a secondary market.


Post Author: Wealth Monaco