Gambit acquisition offers BNP Paribas robo-advisory opening
France’s BNP Paribas Asset Management (BNPP AM) has acquired a majority stake in Belgium-based robo-advisory company Gambit Financial Solutions.
BNPP AM says via the deal it will look to improve its advisory-guided or autonomous interfaces. Gambit will maintain its independence and become the preferred partner for robo-advisory solutions for BNP Paribas’ retail and wealth management networks.
Frédéric Janbon, CEO of BNPP AM, says this is a “key milestone in our digital transformation” and “will significantly accelerate the pace of development and enrichment of our customer journey in the area of financial savings”.
BNPP AM adds that the digital revolution has “transformed” clients’ expectations about financial savings plans with their investment advisors. This has led to a “major rethink of the customer experience across all client segments, and involves constantly adapting to clients’ changing needs”.
Gambit was created in 2007 by a group of scientists at HEC – University of Liege. It has more than fifty employees and four offices in Europe. The company provides investment advisory solutions and risk management tools to financial institutions in France, Belgium, Luxembourg and Switzerland.
In 2016, Gambit says it launched a digital robo-advisor solution that is already used by unnamed banks in Belgium and Luxembourg. This year, Gambit received an agreement from the Luxembourg regulator to launch its proprietary robo-advisor – Birdee – directly to retail investors in the European Union.
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