The REYL Group has announced the launch of Alpian SA, a digital platform to service the mass affluent.
This follows a successful Series A funding round for Alpian SA to the total of CHF12.2m ($12.5m).
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In addition, Alpian SA has applied for an independent banking license from FNMA and plans to be ready by Q1 2021.
François Reyl, CEO of REYL & CIE, said: “The successful incubation of Alpian is demonstrable proof of our innovative banking mindset. Technology is already playing a crucial role in shaping the future of banking, and REYL is leading the way with this initiative which we believe will provide mass-affluent clients with a far superior level of service and greater flexibility than currently exists on the market.”
Pasha Bakhtiar, partner, REYL & Cie, added: “This exciting new launch is a huge testament to everyone at the Bank who contributed to this project with an open mind, positivity and a willingness to meet the challenge of incubating and disrupting from within. We are proud to have achieved this important milestone in delivering the next stage of digital innovation in banking.”
REYL and the mass affluent
According to REYL Group, the mass affluent segment represents over 2.6 million people in Switzerland with CHF660bn in assets.
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By GlobalDataThey are also, according to the group, the most inclined to use digital tools to conduct investment, transactions, and other activities. However, the mass affluent still value human interaction and trust.
The strategy is to combine the advantages of an incumbent bank, such as trust and capital, with the dynamism of a new disruptive player. This includes bringing in young professionals with entrepreneurial spirit and strong expertise in the digital sector.
The concept of Alpian SA took 18 months to develop with full guidance from partners and senior executives. Following this was the funding round in which seasoned investors from the financial and technology sectors participated.
