<a href="https://www.cygnetise.com/">Cygnetise</a> has won the Wildcard award in the inaugural Digital Isle of Man ‘Fintech Innovation Challenge’. Following a rigorous selection process, fourteen out of a global pool of eighty innovative financial technology applicants made it to the final, presenting their innovative solutions to the Isle of Man's growing fintech community and an esteemed panel of judges.
Spearheaded by Digital Isle of Man and Finance Isle of Man, government executive agencies of the Isle of Man, in collaboration with the Isle of Man Financial Services Authority and Deloitte, the initiative’s mission is to help international businesses scale up and expand into the region, emphasising the Island’s commitment to becoming a global fintech hub.
Finalists spent the past six months designing innovative products to address three key challenge statements. Two of these focused on topics like Digital Identity &amp; e-KYC (Know Your Customer) and Compliance &amp; Transaction Monitoring. The third option was to develop a 'wildcard' solution, giving participants the chance to demonstrate their creative problem-solving abilities.
The panel of judges, drawn from leading financial and digital technology businesses in the Isle of Man, scored the finalists’ presentations based on criteria including market potential, scalability, and potential to positively impact the Isle of Man's financial sector. Feedback from local business leaders attending the event was also gathered and considered in the final decision.
Tim Johnston MHK, Minister for Enterprise, recognised the event's importance as a platform for innovative businesses to connect with the Island’s financial services and digital sector, and as a driver for economic growth and investment attraction, in line with the Island Plan saying, “The FinTech Innovation Challenge provides a unique opportunity for innovative businesses around the world to experience the Island’s collaborative financial services and digital sector, and supports us to fulfil the ambitions of the Island Plan, by enhancing the Island’s proposition as a supportive jurisdiction that embraces innovation, driving economic growth, creating jobs and attracting investment to the Island.”
Commenting on the recognition, Damian Bell, Sales &amp; Account Director at Cygnetise, said, “It’s wonderful to be recognised. It’s also been great to meet with other companies during the event and hear and learn from other providers within the space. The collaboration aspect of the event is very exciting as there are so many fantastic fintechs involved in the initiative.”

Cygnetise wins Wildcard award at the Digital Isle of Man Fintech Innovation Challenge

Cygnetise wins the Jersey TechAwards Fintech Award

Blockchain-powered SaaS solution, Cygnetise, has won the Jersey TechAwards 2023 Fintech Award. The Jersey TechAwards, organised by Digital Jersey, are designed to celebrate the pioneering individuals, innovative businesses and digital champions using technology to accelerate positive change across Jersey.

London-based Cygnetise digitises the process of authorised signatory management in a secure, cost-effective and sustainable way by using the latest blockchain technology. The platform enables operations and finance departments to digitally manage and share authorised signatories, in real time, with their banks and other counterparties, making the process more efficient, transparent, and secure. This significantly reduces the risk of fraud, transforms operations, facilitates business continuity, cuts costs and strengthens governance.
Steve Pomfret, CEO of Cygnetise, said, 

<blockquote>“We are absolutely delighted to receive this accolade, many thanks to the TechAwards sponsors and organiser, Digital Jersey. Jersey has been a fantastic place to grow our business. The Island has been a catalyst for the development and growth of our company, demonstrating just how proactive its financial services industry is in adopting innovative technology.”</blockquote>
Digital Jersey CEO, Tony Moretta, said, 

<blockquote>“As we celebrate five years of digital excellence through our Awards this year, we continue to be impressed by the talent, leadership and innovation of all those who have entered. Our winners this year span blockchain technology, art and agriculture through to charity fundraising, crisis management and environmental conservation, reflecting how technology is increasingly impacting all corners of our lives. I’d like to  congratulate all our winners – they are ambassadors of a thriving digital sector in Jersey of which we can be proud.”</blockquote>

Cygnetise wins the Jersey TechAwards Fintech Award

The blockchain-powered SaaS solution and leading Multi-Family Office collaboration is recognised twice for driving optimisation and digitisation

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<a href="https://www.cygnetise.com/">Cygnetise</a> and <a href="https://www.stonehagefleming.com/">Stonehage Fleming</a> have won two awards in the 2022 IBSi Global FinTech Innovation Awards for the success of their design partnership. The collaboration between the Cygnetise Authorised Signatory Management platform and Stonehage Fleming, a principal adviser to many of the world’s leading families and wealth creators, won Most Innovative Project and Most Adaptable Deployment in the Most Innovative Use of Blockchain in Banking category.

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Stonehage Fleming collaborated with Cygnetise to become an influential design partner in the development of the Cygnetise product as part of the Family Office’s continual drive to optimise its processes to provide best-in-class customer service levels. The company is a trailblazer in identifying innovative technologies and the first Family Office to implement Cygnetise.

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The design partnership with Stonehage Fleming has enabled the development of new updates and features that further boost efficiency and security and aid Cygnetise’s continual improvement. Cygnetise’s cloud-based SaaS model enables continuous functionality releases/upgrades meaning that the design partnership also contributes to the immediate improvement of the platform for all Cygnetise clients and users. 

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The collaboration additionally enabled Stonehage Fleming to demonstrate to banks the mutual benefits of using Cygnetise for Authorised Signatory Management processes to reduce risk, improve efficiency and strengthen governance. The building of this network effect has positive outcomes for numerous stakeholders, from Stonehage Fleming and its clients to the banks and their regulators, with digitisation of the wider banking ecosystem also driven forward.

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Christelle Theurillat, Partner, Head of Operations at Stonehage Fleming said;
<blockquote>“Cygnetise is highly effective in helping us realise our digital goals so collaborating in a design partnership made complete sense. The application makes the process so much quicker, simpler and more effective for managing our authorised signatory lists, moving away from paper-based processes that are time-consuming. This is the direction the entire industry should be travelling in.”</blockquote>
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Steve Pomfret, CEO of Cygnetise, said;
<blockquote>"It is a pleasure to partner with Stonehage Fleming. They are leaders of the pack with their forward-thinking and innovative approaches. Due to the high regard in which they are held they also act as an influencer, as well as aiding us with the continuous development of the Cygnetise application. It is a highly fruitful collaborative relationship."</blockquote>
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Cygnetise and Stonehage Fleming design partnership wins FinTech Innovation Awards

Cygnetise offers firms a decentralised application to digitally manage authorised signatories. This includes bank mandate management, delegated authorities, authorized signers and authorised trader lists.
Corporations benefit by easily managing their authorised signature lists including sharing with their counterparts and banks. Banks can hugely benefit by implementing the application and allowing all their business / corporate customers to manage their mandates on it.
This replaces inherently manual and inefficient processes, reduces (by 95%) the time spent maintaining such registers and permanently records any changes made.
The application is web-based, meaning system integration is not necessary.
It enables remote working and complements use of e-signatures.

Cygnetise

Cygnetise offers firms a decentralised application to digitally manage authorised signatories. This includes bank mandate management, delegated authorities, authorized signers and authorised trader lists.

Corporations benefit by easily managing their authorised signature lists including sharing with their counterparts and banks. Banks can hugely benefit by implementing the application and allowing all their business / corporate customers to manage their mandates on it.

This replaces inherently manual and inefficient processes, reduces (by 95%) the time spent maintaining such registers and permanently records any changes made.

The application is web-based, meaning system integration is not necessary.

It enables remote working and complements use of e-signatures.