BNP targets robo-advice with major investment
(8 September 2017 – Europe) French bank, BNP Paribas acquired a major stake in a robo-advisory firm, marking its move into the growing sector.
The bank has bought into Belgian specialist Gambit Financial Solutions, however details of the deal have not been disclosed.
Although Gambit will remain a stand-alone company, it will become the preferred partner for robo-advisory solutions for BNP Paribas Group’s retail and wealth management networks.
BNP Paribas Asset Management chief executive, Frédéric Janbon said, "The partnership with one of the most advanced robo-advisory solutions available in the market is a key milestone in our digital transformation and marks our commitment to delivering quality investment solutions to our clients."
Launched in 2007, Gambit’s robo-advisory technology has been licensed by private and retail banks in Belgium, Luxembourg, France and Switzerland. The firm has also recently launched a proprietary business-to-consumer robo-advisor called Birdee.
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