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Selerix Systems
United States
2002 (23 Years)
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What are the differences in regulations for each
License
A Grade License
Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.
B Grade License
Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.
C Grade License
Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.
D Grade License
From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.
Company Information
Get to know Selerix Systems
Company Information
Get to know Selerix Systems
Selerix, from the Latin root celer, meaning “swift” or “fast.” Selerix Systems produces software (BenSelect) to facilitate communication, enrollment, and administration for both core and voluntary insurance products. This software is licensed to and used by carriers, brokers, and employers. Selerix’s growth strategy is simple: Build market share by providing an outstanding product at an extremely competitive rate and cultivate distribution relationships in the carrier and broker channels. BenSelect supports over 725,000 employees and has been integrated with more than 117 carriers. It provides the flexible platform employers need for enrollment, employee communication, and delivery of information to all carriers and payroll providers via EDI. Their system has been used for groups in a wide variety of industries, including healthcare, education, transportation/logistics, state and local government, non-profit, high technology, waste management, and retailing. Selerix is located in McKinney, Texas, part of the Dallas-Fort Worth metroplex. Unlike many of their competitors, Selerix does not earn revenue or commissions on insurance products sold on the BenSelect system.
Industry
- Financial InsurancePRIMARY
- Technology Software Development
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