Offering best of breed online trading and digital services to Italian clients - directly and through financial advisors

Consumers are experiencing digitisation in most aspects of their life and are beginning to expect the same levels of digitisation in financial services. 

The partnership with Saxo enables Banca Generali to offer best of breed online trading and digital services to Italian clients looking to trade and invest autonomously, as well as to their existing private clients through financial advisors.

Thanks to Banca Generali’s strong brand, they believe the partnership helps them compete more effectively against new digital entrants introducing digital investment services to the Italian market and achieve its target: to be the first Italian private bank, unique in terms of service value, innovation and sustainability.

Challenge: find a leading provider with an open architecture in terms of technology, innovation and service

Banca Generali knows that the future of financial services will be driven by open architecture and the organisation recognised that Saxo Bank was a leading provider in this area in terms of technology, innovation and service.

To determine how to digitise their services, Banca Generali weighed up three options which were: build their own system, buy in external services or form a partnership with a leading fintech specialist. It was decided that the JV partnership with Saxo Bank was the most effective and efficient route for Banca Generali to achieve its digitisation ambitions. 

The partnership has been particularly successful between the two organisations as the strategy and JV negotiations were conducted at the C-suite level by the CEO of Banca Generali, Gian Maria Mossa and the CEO of Saxo Bank, Kim Fournais who share the same views around digitisation and technology innovation.

“We are pleased to partner with one of the best companies in the world for digital trading services, and its outstanding, innovation-oriented management team. This partnership opens up new opportunities for our bank, which is expanding its exclusive solutions with a range of excellent digital services, and especially for our network of financial advisors and clients, to whom our private bank will be able to provide an even more extensive and distinctive range of tools which will add value and greater choice."

Gian Maria Mossa
Chief Executive Officer

Solution: providing clients (B2C) and Financial Advisors (B2B2C model) with direct market access to financial instruments in a compliant and transparent manner.

Through the Banca Generali and Saxo Joint Venture (JV), more than 27,000 clients are now able to trade more than 70,000 financial instruments across asset classes, as well as benefit from complete automation and transparency from the trade execution process all the way though to post trade processing.

As part of the service, clients are able to fulfil all the requirements of MiFID II such as trade reporting and compliance with best execution requirements.    

The launch started with digital stocks and bonds with the universe now expanded to include all ETF, futures and options for Banca Generali’s clients.

What will a successful collaboration look like?

The target for the JV BGSaxo is to have 30,000 clients in its first year of going live who will have full access to Saxo's trading platform. Banca Generali believes this is a realistic goal given their network of 2,000+ financial advisors and 250,000+ clients in Italy alone.