Mediobanca Group Private Banking Division continues its digital transition process for Wealth Management services
To develop the operating, distribution and technological model for Wealth Management services, making all the opportunities offered by the new digital paradigms available to the bankers of the Mediobanca Private Banking division:
this is the objective of the co-operation agreement entered into by Mediobanca with Armundia Group, a digital company which specializes in designing and providing fintech and insurtech solutions.
The initiative forms part of the Mediobanca Group's broader digital transition program, and is based on a radical and incremental innovation strategy with three main drivers: hybridization of service models, redesigning the customer experience, and enhancing the client offering and making it more efficient.
The Wealth Management and Private Banking digital services have been redesigned and enhanced through the implementation of a single, scalable and flexible platform (ADV360), which is able to support the bankers’ operations while meeting the standards of absolute excellence adopted by the Bank in terms of service customization and confidentiality.
With its cutting-edge technology architecture, ADV360 supports sophisticated financial advisory services, which, drawing on the entire Banking Group's specialist experience, enables bankers to follow the client at all stages of the service, ensuring that proposals are fully customized, and that processes and sophisticated reporting are managed in real time.
For the end-client, digitalized services mean increased efficiency and an increasingly wide range of advisory services offered, in total transparency of relations with the Bank, plus the possibility of interacting with their banker on a multi-channel and multi-device basis.
“We are very pleased with the introduction of ADV360 developed by Armundia Group, which is consistent with our plans for digital enhancement of our services”, said Angelo Viganò, Head of Mediobanca Private Banking.
“Although the human factor remains the decisive and distinctive factor in our market segment, the new platform will enable us to manage all the most sophisticated financial advisory services using a single tool. This will simplify interactions with clients, while at the same time guaranteeing the levels of efficiency and confidentiality which we have always brought to the market.”
“This project represents one of the main pillars of Mediobanca's Digital Agenda”, said Marco Pozzi, Group COO of Mediobanca and CEO of Mediobanca Innovation Services. “It allows us to take a very important step in innovating our business model and consolidating the excellent positioning which the Mediobanca Private Banking Division has on the market.
As a Group we have put together a very ambitious digital transformation plan which involves all the business divisions and is intended to consolidate Mediobanca’s distinctive position by innovating in market segments such as Private Banking for UHNW clients, which traditionally are more associated with relationship banking and less with digital issues than retail services for example.”
“The asset management and private banking sector today is having to review strategies, processes and technology systems in the light of the new behaviors being adopted by consumers and businesses. The need to manage cross-advisory activities in an innovative manner across all the assets held by a customer has become a priority, as has the need to construct appropriate, customized proposals based on clients’ objectives in terms of financial investment and insurance protection”, said Gianluca Berghella, CEO of Armundia Group. “We are proud to be working alongside Mediobanca, a prestigious operator in the banking sector, in developing its digital innovation strategies with an approach that focuses and assigns value to people by using appropriate technology instruments. In the Private Banking sector especially, the human touch, competence and sensitivity of bankers are strategic factors in being able to develop quality relations with clients, in order to understand their expectations and needs, and provide customized advice. This can be done by making the finest technology available to bankers, to help them express their fullest potential.”