Paperjam Club: What are the key factors for ensuring sustainable growth in the sector?
Marie Machavoine: The banking sector is changing rapidly, as are customer needs and expectations. So it’s essential to remain customer-centric and provide personalised solutions. Understanding their needs, offering tailor-made services and maintaining a long-term relationship of trust are fundamental. Customers are looking for a solid partner who listens, provides added value and expertise, and supports them in their projects.
To address increasingly cross-border issues, it is also becoming essential to develop an international and multi-local approach, offering advice on investment, estate planning and tailored financing solutions. Next, a diversified offering is essential, including traditional and alternative investments, insurance, credit and wealth management services, to provide a tailored response to needs.
Finally, in addition to availability, attentiveness and personalisation of the products and services on offer, customers want to benefit from a more fluid digital experience, based in particular on advanced tools. Given the skills required and the tools that need to be put in place, having critical mass therefore remains a major asset for ensuring sustainable growth in the sector.
How is your expertise helping to redefine wealth management to meet today’s needs?
Being part of a major banking group enables us to offer our customers an international approach and a diversified range of services. This global approach is essential for managing cross-border issues, such as children moving abroad, second homes in different countries and international businesses.
When it comes to investment advice, estate planning, financing solutions or personalised banking services, it is important to have the expertise to support customers at every stage of their lives.
We can also offer a wide range of solutions to meet the needs of large private clients, families and entrepreneurs, including expertise in wealth planning, family governance and philanthropy, and strong financing capabilities. Thanks to our international network and financing capabilities, we are therefore able to offer personalised advice and solutions tailored to the specific needs of each client.
What are the risks of excessive digitalisation in such a relationship-based field?
First of all, data collection and processing must be carefully managed to ensure ethical use of personal information. As a result of the digitalisation of data, cybersecurity has become a crucial issue for the banking sector.
In addition, the rapid obsolescence of technologies and the high cost of maintaining the level expected by increasingly digital native customers also represent a financial challenge for banking institutions. It is necessary to continue investing in technology to remain competitive while managing these costs.
Finally, it is essential to remember that digital technology must remain a tool at the service of human relations. Excessive digitalisation can damage the quality of the interpersonal relationship between customer and advisor, which remains at the heart of our ecosystem. A balanced approach to digitisation is therefore necessary to take advantage of the technological benefits while preserving the essential relational dimension.