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Digital channels now used by 70% of Banca March Private Banking and Wealth Management customers

16 September 2021 Category: Digitization

The adoption rate of Banca March's digital channels by Private Banking and Wealth Management customers stood at 70% in June 2021, up 5.2% versus the same time last year.

  • Following the significant increase last year in the use of digital banking services and the Banca March app, the adoption of these digital channels by customers continues to grow at a healthy pace, thanks to the constant improvements and new digital functions implemented by the bank.
  • The adoption rate of Banca March's digital banking channels by Private Banking and Wealth Management customers stood at 70% in June 2021. This is a clear reflection of the ambitious digital transformation process being rolled out by the bank to build a business model focused on responsive, multi-channel advisory services underpinned by advanced technology and unparalleled products.

The adoption rate of Banca March's digital channels by Private Banking and Wealth Management customers stood at 70% in June 2021, up 5.2% versus the same time last year.

These strong figures are a clear reflection of the ambitious digital transformation process underway at the bank, which is being directly overseen by Deputy Chairman Rita Rodríguez Arrojo, to build a business model focused on responsive, multi-channel advisory services underpinned by the best technology and exclusive, unparalleled products.

Operations through the Banca March website and app have continued to intensify in 2021. Following the upturn in usage triggered by Covid-19 in 2020, the bank's digital channels have enjoyed continued momentum this year.

The use of digital channels by customers in all of Banca March's business units, particularly Private Banking and Wealth Management, has continued to enjoy robust growth this year thanks to the constant improvements and new functions added by the bank. These updates have responded to the increased demand for remote services and include online reporting - detailed, easily accessible reporting on the real time performance of savings and investments -, simpler remote product arrangement, the use of cloud-based management tools, encryption using blockchain technology and social media-based sales and business management solutions, among others.

Optimising customer experience and security

One recent improvement means that customers can now select a particular mobile phone as a trusted device. This will enhance the security of Banca March customers by implementing a unique authentication method for transfers via the app, except where the system detects unusual activity. This new function allows for quicker, easier transactions and complies with the PSD2 Directive.

The investment information provided to customers via online channels has also been improved and an advanced search function for investment products has been enabled. The visibility and usability of the entire investment section has been improved, providing customers with far more comprehensive, interactive product factsheets.

The new advanced investment product search function allows Banca March customers to quickly, easily identify the various investment solutions available, categorised by the bank's team of experts.

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