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May 25, 2022

Alpian and Fideuram collaborate on digital wealth management

By Patrick Brusnahan

Wealthtech Alpian and Fideuram – Intesa Sanpaolo Private Banking have entered into a strategic collaboration. The goal is to speed up the evolution of the digital wealth management offering at Fideuram-ISPB.

This follows Fidueram-ISPB’s CHF19m equity investment into Alpian.

In addition, the bank has identified Alpian as a strategic partner to advance its wealth management offerings which currently service 60,000 clients.

Alpian has knowledge in building mobile-first digital wealth management offerings that utilise cloud-based technology. The partnership should allow a product roadmap designed to enhance the experience of Fideuram-ISPB’s customers.

Luca Bortolan, head of Direct Bank at Fideuram-ISPB, said: “After the investment to launch the first Swiss digital private bank, we have found in Alpian a strategic partner to power the digital wealth management service offering of Fideuram-ISPB Direct Bank. We will be leveraging the experience that the team has built while creating a mobile-first digital private banking offering using state-of-the-art technologies”.

Schuyler Weiss, Chief Executive Officer at Alpian, said: “This strategic partnership demonstrates the potential of bringing together a large leading private bank and a new digital private bank to drive value for Fideuram-ISPB’s clients, employees and stakeholders. We look forward to working together to build on the power of Alpian’s technology and expertise of our team to drive large-scale change for the wealth management industry.”

Last month, Alpian secured CHF19m ($20.3m) in Series B+ funding, as well as a banking license from FINMA.

As a result, Alpian will shortly launch its alpha release to internal employees with services to the public released by Q3 2022.

The state of Swiss banking

PBI recently interviewed Vontobel for a peek inside the Swiss private banking sector. It covers clients, new products, trends and how banks recovered after the Covid-19 pandemic.

Speaking to PBI, Jean-Pierre Stillhart, WM head of German speaking Switzerland at Vontobel, said: “In the corona pandemic, our decisions were confirmed, e.g., the focus on technology and the investments we have done in that area paid off.

“The current environment remains challenging, especially for small institutions. Some of them might reach their limits in terms of digitisation and increasing regulatory density. As a result of the continuing high pressure on margins and further economies of scale, consolidation in the Swiss private banking market might continue.”

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