Banca March strengthens its commitment to the Balearic Islands with the consolidation of the Palma Personal Banking Centre as a driver of the bank's digital transformation
30 November 2023 Category: Banca March
- The Personal Banking Centre, created in 2020, provides specialised advisory services to customers throughout Spain.
- Around 85% of Personal Banking customers have gone digital, which means that, in addition to the branch service, they have a remote advisor – a professional based at the remotely managed Personal Banking Centre in Palma, available to provide customers with personalised advice and to help them to carry out banking activities.
- 92% of digitized Personal Banking customers are between 41 and 89 years old.
- The AVANTIO branch, made up of new 100% digital customers, is the main gateway to the Personal Banking Centre. Around 85% of AVANTIO customers are between 41 and 89 years old, and the average age of 100% digital customers is 53 years old.
Banca March reaffirms its commitment to the Balearic Islands with the consolidation of the remotely managed Personal Banking Centre located in Palma, which provides specialised advisory services to customers throughout Spain.
The Personal Banking Centre is Banca March's response to customer demand for a comprehensive omnichannel experience, while still offering the personalised and exclusive advice that is at the core of the bank's business model, advice which is provided by the most highly rated managers in Spanish banking, according to the latest half-yearly report by the independent consultancy STIGA.
Through a co-management model together with the branches, Banca March's digital services offer the immediacy that today's customers demand, making different channels available to them and providing a unique service of specialised advice from managers stationed at the Palma headquarters.
Vicente Jábega, Assistant Deputy Managing Director of Banca March and Head of Personal and Retail Banking, says, "The Personal Banking Centre highlights the importance of the Balearic Islands within the organisation: from Palma, we provide specialised advisory services to customers all over Spain. With the AVANTIO branch for new digital customers, Personal Banking has become a driving force of Banca March's digital transformation. Banca March continues consolidating its comprehensive omnichannel service, together with personalised expert advice, for providing a quality service to customers with a digital profile. For these customers who are familiar with new technological advances, Banca March offers a range of services and products that are recognised for their quality. Our multi-channel approach to investment services allows us to support the growth of our Personal Banking customers and to provide them with access to specialised Private Banking and Wealth Management services”.
Around 85% of Personal Banking customers have gone digital
This means that, in addition to the service customers receive at Banca March branches, they have at their disposal a remote advisor – a professional based at the remotely managed Personal Banking Centre in Palma, available to provide customers with personalised advice and to help them carry out different banking activities.
Of customers who enjoy this remote management service, 68% are from the Balearic Islands, while the remaining 32% are in the mainland or the Canary Islands.
The bulk of digital Personal Banking customers, 92%, are between 41 and 89 years old, which speaks to the adaptability and digital habits of older generations.
Avantio, the key to digital transformation at Banca March
Inside the Personal Banking Centre is the Avantio branch, created for new 100% digital customers. To access Avantio, a platform with the most advanced digital tools in the sector and a unique product range - more than 30,000 investment instruments from the world's leading investment managers - it is necessary to register via the Avantio account (100% digital) and contribute a minimum of 10,000 euros. The Avantio account has no fees. It also offers free transfers, free withdrawals at any national or international ATM starting from 150 euros and a free, carbon neutral debit card that donates 10% of its revenue to projects for the preservation of the planet.
Since August, Banca March's Personal Banking segment has attracted more customers through Avantio than through its branches. The average age of these 100% digital customers is 53 years old.
The Avantio branch provides an advisory service to clients from all over Spain. These 100% digital customers are geographically spread across Madrid, Catalonia, the Balearic Islands, Valencia, Andalusia, the Basque Country, the Canary Islands, Castile and Leon, Galicia, Aragón and Asturias.
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