SnapSwap, a fintech startup developing innovative solutions for financial institutions and other businesses, has announced the appointment of Raymond Schadeck, former CEO of Ernst & Young in Luxembourg, to its Board of Directors.

Advancing corporate management and acquiring domestic and international recognition with Raymond Schadeck joining the SnapSwap Board of Directors helps establish the company as a European leader in providing services such as remote onboarding, payment infrastructure and blockchain based issuing of electronic money instruments.

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SnapSwap offers Remote Onboarding, a unique fully automated solution to onboarding customers in compliance with anti-money laundering and “Know Your Customer” requirements remotely via a personal mobile device (a phone or a tablet) or on a personal computer. Integrated in a mobile app or an internet site, Remote Onboarding allows the verification of the customer’s identity, collection of KYC data, performance of due diligence and obtaining a legally binding electronic signature. The service is fully automated end-to-end and is available 24/7 at a fraction of the cost of manual onboarding.

Many industries in Europe and abroad are required to comply with anti-money laundering, counter-terrorist financing and “Know Your Customer” requirements. Remote Onboarding provides banks, insurance companies, the investment industry, telecoms and other businesses with advanced solutions that satisfy customers’ expectations of a seamless and modern user experience and is compliant with current and upcoming regulations - PSD2, new AML directive, data privacy rules and others.

Remote Customer Onboarding is enhanced with the SnapSwap payment infrastructure and its capabilities to issue electronic money instruments on blockchain and distributed larger technologies, creating a unique value proposition for innovative financial services.

Raymond Schadeck brings a wealth of experience and international connections to SnapSwap

Appointed to SnapSwap’s Board of Directors, Raymond Schadeck has 29 years of professional experience in consultancy and audit. Mr. Schadeck worked as CEO and CFO at Ernst & Young, where he came to from a partner and CEO position at Arthur Andersen.

Over the last 7 years Mr. Schadeck serves as an independent director on the boards of Banque Raiffeisen, Intesa San Paolo Group, LuxInnovation GIE and other private and public companies. Since 2015, Mr. Schadeck is an INSEAD and ILA certified director and is the acting Chairman of the Board of the Institut Luxembourgeois des Administrateurs (ILA) – Luxembourg Institute of Directors.

Raymond Schadeck stated "Here in Luxembourg the development of an ecosystem of innovations in financial services is one of the top priorities. SnapSwap builds innovative solutions that allow financial institutions and other businesses to go digital, offer better services and reach 500 million people of the European market. I’m happy to be working together with SnapSwap’s outstanding team to help them grow the business and establish partnerships in Luxembourg, in Europe and worldwide."

Denis Kiselev, Founder and CEO of SnapSwap, stated "I’m excited to welcome Raymond Schadeck to our Board of Directors. Raymond brings to our company a great expertise in strategy and governance, global knowledge and a unique network of professional connections. Together we will continue building SnapSwap to deliver advanced technologies in business processing and innovations in payments for our business clients and their customers."