Boreal Capital Management has started working with the IT provider Open Circle as part of the new FINMA authorization. Following an extensive evaluation of various service providers, the asset manager opted for the ISO-certified Swiss Business Cloud provider. The go-live took place in April. Open Circle is thus further expanding its position as a leading IT solution provider for clients with a high demand for digital sovereignty.
“Boreal has been FINMA-regulated since February 2024, which is why the IT provider now plays a key role for the asset manager,” says Open Circle CEO Stefan Escher. Applications and data must be secure and should therefore be hosted in Switzerland and operated by a Swiss company. This means that data sovereignty remains with the owner of the data, which is extremely important, especially for customer identification data (CID). “With Open Circle, we have found an ISO27001-certified IT partner that enables us to efficiently implement FINMA requirements in terms of information security,” says Jaime Moreno, CEO of Boreal. “A secure environment for our specialist applications, access from anywhere and local, English-speaking support are further reasons that spoke in favor of Open Circle,” Moreno continues.
Over the Easter weekend, the experienced Open Circle team set up the existing Boreal devices with the “Managed Workplace“. The migration took place without interrupting day-to-day business. All notebooks are now integrated into Open Circle’s asset management system and are managed proactively. Boreal employees also received a “Virtual Workplace” so that they can access their working environment from their personal devices, such as Mac or private desktop computers (“Bring your own device” BYOD). Boreal also uses the telephony solution from Open Circle and has “Firewall & Network” managed to ensure the secure operation of the site in Zurich. The Virtual Servers are all operated in Swiss data centers (Swiss Business Cloud), which protects the data from a CLOUDAct and ensures Boreal’s digital sovereignty.
The IT administration tool, which was developed by Open Circle, gives Boreal an overview of and access to its IT environment and the inventoried devices. The IT admin tool was designed in such a way that the ICS and corporate governance principles such as transparency, controls and minimum information can be easily implemented through log entries, the dual control principle or authorizations.
Open Circle offers IT solutions from a single source, including consulting, technology and security. Boreal Capital Management is another customer with high demands in terms of digital sovereignty. The new collaboration will further strengthen Open Circle’s position in the market for asset managers, insurance companies and healthcare providers.
Open Circle, based in Zurich, is an ISO-certified Swiss IT solution provider. The company was founded in 2001 and today employs around 40 people. Open Circle offers a modern working environment for SMEs that attach great importance to digital sovereignty. The the company’s customers include asset managers, healthcare providers and other companies with sensitive data. Open Circle solutions can be purchased directly or via selected sales partners.
Open Circle AG
Mike Burkart
+41 44 552 13 31
mike.burkart@open-circle.ch
www.open-circle.ch
