Forging sound relationships with Private Banking clients

The arrival of the new technologies is fostering demand from clients for more personalised experiences, more efficient wealth management and increased transparency. Starting from the question: Is the wealth management industry facing a Kodak moment?, the Swiss research and opinion forum "Redesigning Financial Services" founded by the University of San Gallen (ICI-HSG) and the Polytechnic University of Zurich(ETH) in conjunction with Ernst & Young, is working to redesign Switzerland’s financial offering of the future. Hence, BBVA collaborates in the forum’s activities, and in its latest publication entitled “Wealth Advice”, Alfonso Gómez, CEO of BBVA in Switzerland, granted an interview in which he discussed how the BBVA Group and its Private Banking unit in Switzerland are building the banking industry of tomorrow. Among the many topics broached in the interview, we should underline the BBVA Group’s intention of making this new era of opportunities available to all its customers and this, according to Alfonso Gómez, is achieved by providing the best banking solutions, helping customers take the right decisions and having a “true impact on their lives”. For Alfonso Gómez, innovation consists of creating value and to do so the new technologies are helping to transform the industry and this translates into new opportunities for wealth management along the entire value chain: Opening accounts with a digital signature, blockchain technology or roboadvisors are just some of the tools that will foster a better customer experience. In order to build a perfect customer experience channel, Alfonso Gómez comments that now more than ever, clients have access to information, knowledge and power. “To provide a perfect experience, we must be capable of pre-empting the client’s needs, creating products that are accessible and intuitive, that keep us connected with our clients and recruiting dynamic professionals to our team”, he explains. The task of private banking professionals is critical today for understanding our clients’ needs, the emotional component and above all to nurture the necessary trust for long-term wealth management. In the future, these professionals will blend the human side of the relationship and the advantages provided by information analysis and technology. You can read the full interview here