Digital channels now used by 85% of Banca March Private Banking and Business Banking customers
12 August 2024 Category: Digitization
- Business Banking customers are among the top adopters out of all the bank's specialist areas, with 93% of customers using digital channels for their daily banking transactions. In Private Banking, the rate of use of digital channels stood at 78% in July 2024.
- Banca March consolidates its leadership in advisory technology with a complete omnichannel service, with Avantio as the main lever for providing a quality service to customers with digital profiles.
- March Broker's revenues increased by 22% in 2023 (60% in the last two years), and more than 50% of new Personal Banking customers are now onboarded via the investment platform Avantio.
Across all of Banca March's specialist areas (Private Banking, Business Banking, Wealth Management and Large Companies), 85% of customers use digital channels on a regular basis. Thus, eight out of ten customers in these areas make regular use of remote channels to carry out the bulk of their operations. The Business Banking division is particularly noteworthy, with its usage rate at 93%. In Private Banking, the usage rate of digital channels stood at 78% in July 2024, 2.63% more than in the same period of the previous year.
Record digital and remote banking activity
The results obtained by Banca March last year were boosted, among other things, by the extraordinary increase in customer acquisition. This growth was supported by the strategic development of digital and remote banking, which showed record activity: March Broker's revenues increased by 22% in 2023 (60% over the last two years), while more than 50% of new Personal Banking customers are already recruited by the Avantio investment platform, with an average of around 300 customers per month recruited through this channel.
Leading the way in technology and digitalisation investment
Thus, Banca March has consolidated its leadership position in advisory technology with a complete omnichannel service, featuring Avantio as the main driver of quality digital service. For digitally literate customers who are familiar with new technologies, Banca March offers a range of services and products which are renowned for their quality.
Banca March's commitment to technology and digitalisation is reflected in an average annual expenditure and investment volume of 187.2 million euros between 2020 and 2023. This is equivalent to 10.31% of gross income, far outperforming the sector average of 8.9%, according to data from Accenture.
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