As part of the collaboration, FISPB intends to introduce an initiative that accelerates the development of its Digital Wealth Management service, with the move falling in line with the bank’s strategy of launching new digital solutions. The partnership with BlackRock, which is an asset management company, allows FISPB to scale its European customer base by providing optimised services.
The announcement comes just days after Visa renewed its multi-year strategic alliance with Intesa Sanpaolo, with the two organisations intending to centre their efforts on advancing the digital transition of payments. Visa and Intesa Sanpaolo aimed to continue their pre-existing projects and introduce additional products and services for the bank’s customers. Also, the financial institution’s enterprise customers were set to be able to access more solutions from Visa’s services offering, including Visa Business Solutions.
FISPB intends to scale its offering to new markets by delivering both geographically and via brokerage, hybrid advisory, and discretionary portfolio management services, provided through digital channels. The partnership with BlackRock is set to enable FISBP to utilise the investment expertise of the company, as well as its technology capabilities and knowledge of the wealth market to grow its digital proposition. Through this, FISBP works towards supporting its clients through a comprehensive and accessible investment offering.
Furthermore, both committed to scaling the channels available to their clients in their investment journey, FISPB and BlackRock aim to assist customers transition from saving to investing and provide them with customised strategies to meet personalised financial objectives. The initiative is initially set to expand to Belgium and Luxembourg, where the subsidiary Intesa Sanpaolo Wealth Management conducts its operations. Also, these regions present significant growth opportunities, as identified by the bank. When commenting on the announcement, representatives from FISPB underlined that teaming up with BlackRock allows the bank to solidify its plans in digital wealth management and further expand in Europe, where it can utilise its knowledge and track record in savings and investment management.
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