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Grupo Banca March joins IDIASEF, the Institute for the Development of Artificial Intelligence in the Financial and Insurance Sector

24 October 2022 Category: Banca March

  • IDIASEF is intended to provide a meeting point for the various specialists working in the field of artificial intelligence in the financial and insurance sector.
  • Joining IDIASEF will allow the Banca March Group to make further inroads in its digitalisation process to ensure it remains at the cutting edge as an advisory technology leader.
  • Banca March has become the first bank to digitalise its Private Banking model for the next generation of customers, who want high-tech investment management services offering greater autonomy.

 

The Banca March group has joined IDIASEF, the Institute for the Development of Artificial Intelligence in the Financial and Insurance Sector. The core goal of this institutional non-profit association is to position itself as a meeting point for the various experts specialising in artificial intelligence in the financial and insurance sector, both in academic and institutional settings and in the business world.

Banca March CEO José Luis Acea said: “The Banca March Group has invested a great deal of time and resources in ensuring we are at the cutting edge of online banking and to position the bank as an advisory technology leader, whilst remaining fully focused on our customers and professionals; we now offer an optimal omnichannel provision whilst delivering the expert advice which is the bank's hallmark and the tailored services we provide customers who place their trust in us. Becoming part of a prestigious institution like IDIASEF only serves to underscore Banca March's commitment to progress and to spearheading digitalisation initiatives that facilitate our customers' interactions with the bank, ensuring that they always have access to the tailored advice of our experts through whichever channel best suits their needs”.

IDIASEF President Carlos Jaureguízar added: “It is an honour to welcome a member with the strength and vision of the Banca March Group to IDIASEF, where we strive every day to bridge gaps and tighten links between the business landscape, meaning real world cases, and the worlds of academia and technology.”

IDIASEF's members include academic institutions such as the Universidad Rey Juan Carlos (URJC), financial institutions, the Fundación de Estudios Financieros (FEF) and the AI laboratory Robexia. Observer members include the Directorate General for Insurance and Pension Funds (DGSFP), the Spanish Union of Insurance and Reinsurance Institutions (UNESPA) and the Barcelona Supercomputing Center - Centro Nacional de Supercomputación (BSC - CNS). Though they are not part of the association, both the Spanish Securities Market Commission (CNMV) and the Bank of Spain are guest members and are kept informed of the Institute's activity.

Leaders in advisory technology

Thanks to an intense digital transformation plan featuring total investments of nearly €220 million between 2018 and 2022, Banca March has positioned itself as a leader in advisory technology, developing tools for customers and relationship managers to guarantee a state-of-the-art omnichannel advisory experience, underpinned by exclusive, unrivalled products.

Banca March has become the first bank to digitalise its Private Banking model for the next generation of customers, who want high-tech investment management services offering greater autonomy. Back in June, Banca March launched Avantio, the most comprehensive investment platform on the market, digitalising its Private Banking model to meet the needs of future generations of customers. This new service positions Banca March at the forefront of online banking, offering the strongest omnichannel provision in the sector whilst remaining fully committed to its trademark approach of delivering tailored, expert advice.

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