MyInvestor has made a strong entrance into the Spanish financial landscape with a competitive offering of investment funds, mortgages, and pension plans. It has grown from 16,000 clients to over 40,000 in less than a year, while quadrupling its revenue. It closed 2019 with €200 million and expects to end 2020 with €800 million.
“Our mission is to help our clients manage their assets and grow with them. We democratize investments by selling investment products that were traditionally only available to a minority,” explains Unai Beato , Chief Data Officer of MyInvestor. The executive states, “Our success lies in the fact that we are a real alternative to traditional banking. We offer the full range of banking services—accounts, mortgages, investment products, and cards—with a policy of minimal fees, maximum transparency, and no small print or conflicts of interest.”
A firm believer in proper data management as the foundation of business growth, Unai Beato asserts that "in traditional banking, customer contact was largely through managers, who treasured their clients' knowledge. Concepts such as customer adaptation, personalized service, and trust previously fell to these managers." However, from his perspective, "this is currently neither sustainable nor efficient. Therefore, we have to find a way to articulate it through automated systems that allow us to capture this knowledge and offer fast, personalized customer service . This is where data becomes truly important. But the amount of information generated is immense; the key is knowing where the crucial data about each customer is and how to use it," he points out.
“At MyInvestor, for example, we market hundreds of investment funds and pension plans from other asset managers. This is what's known as open architecture . Why not see, at some point , one bank selling another's mortgages? The banks that are most agile in adopting this model will have a distinct advantage. Technology is once again key here,” the executive asserts.
We chose Altia "because of the trust we have in its technical and management team, along with their extensive experience with major clients and institutions in the financial sector. Their deep understanding of technology, their vision for the future, and their business savvy are a hallmark of quality. And the results back it up," he concludes.
