Banca Monte Paschi Belgio rebrands as new digital bank Aion
Banca Monte Paschi Belgio is to be relaunched under the brand name Aion by new owners Warburg Pincus.
Aion will focus on the Belgian market
Formerly the Belgian subsidiary of Italy’s Banca Monte dei Paschi – the world’s oldest bank (or second oldest bank, depending on the definition) – the bank has gone live with a new logo, name and website.
The change will involve the scrapping of a brand name that has been present in the Belgian market for 72 years.
Warburg Pincus announced its acquisition of Banca Monte Paschi Belgio in October 2018, and received regulatory approval from the National Bank of Belgium and the European Central Bank to complete the acquisition in June.
The lead of Aion is Wojciech Sobieraj. On the new board of directors are Sina Oefinger, vice-president of Warburg Pincus; Daniel Zilberman, managing director and head of Europe at Warburg Pincus; and Peter Deming, managing director for the service sector at Warburg Pincus.
The private equity firm has invested more than $11 billion into companies within the financial services sector, including 21 regulated banks.
Its recent acquisitions include Société Générale’s Self Bank, and Leumi Card from Bank Leumi. It also holds significant stake in India’s IDFC First Bank.
According to Belgian newspaper De Tijd, Aion will be run on a new banking engine supplied by Polish firm Vodeno, also owned by Warburg Pincus. The bank’s incumbent core banking system is Temenos’ T24 Transact, FinTech Futures understands.
A Warburg Pincus spokesperson told FinTech Futures: “We are currently working on the bank’s transformation to a digital banking platform, but as yet, nothing has been confirmed.”
