BNP Paribas Asset Management is adding digital advisory services to enhance the digitalisation of its distributors, buying a majority stake in a Belgian fintech.
Gambit Financial Solutions is now the preferred partner for all current and future robo-advisory solutions for BNP Paribas AM's retail and wealth management networks.
Its solutions will be leveraged to enhance client journeys, combining advisory-guided or fully autonomous interfaces with an efficient, scalable and modular framework that optimises the power of algorithms and the knowledge of investment specialists.
The deal aligns with both parties' growth strategies, with BNP Paribas saying the digital revolution has transformed client expectations when it comes to discussing their financial savings plans with investment advisers.
"This has led to a major rethink of the customer experience across all client segments, and involves constantly adapting to clients' changing needs. These requirements can now be addressed by optimising the client experience using reliable, user-friendly and adaptable digital interfaces," BNP Paribas said.
Gambit, which was launched in 2007 by a group of university academics, and also recently launched a proprietary B2C robo-adviser, Birdee, which is currently being rolled-out by a growing number of private and retail banks, asset managers and insurance companies across Europe.
"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," BNP Paribas AM chief executive Frederic Janbon said.
"Moreover we bring our asset management expertise and client knowledge to Gambit and this powerful combination will lead us to quickly move along the digital experience curve in this field. This will significantly accelerate the pace of development and enrichment of our customer journey in the area of financial savings."
Gambit chief executive Geoffrey de Schrevel said the partnership marks a critical step in its development and will be instrumental for its future growth as the framework of the deal sees Gambit remain independent with its own governance, culture and management unchanged.