Crèdit Andorrà retains the best private bank in Andorra award granted by The Banker and PWM

From the left to the right side: Yuri Bender, editor in chief of PWM, Joan R. Mas, Director of Corporate Communications, Marketing and Client Digital Transformation and Martí Alfonso, Crèdit Andorrà’s Andorran Banking Business Division/ Foto: Financial Times Live

The two publications belonging to the Financial Times Group have recognised the Bank’s digital transformation and its customer service orientation, as well as the balance between its leading position in Andorra and its international expansion.

This commendation comes following the Bank also winning this award last year, and being rated as Bank of the Year in Andorra by The Banker in 2016 and 2017.

Crèdit Andorrà has been designated the best private bank in Andorra in 2018 by the Financial Times Group’s financial publications The Banker and PWM. The award recognises the Bank’s plan of action focused on promoting innovation and digital transformation as part of its business strategy, its customer service orientation and a banking strategy that strikes a balance between its leading position in Andorra and its international expansion.

The awards, which are given annually to the best international private banking entities were presented in London yesterday, at a ceremony attended by the director of Crèdit Andorrà’s Andorran Banking Business Division, Martí Alfonso, and its director of Corporate Communications, Marketing and Client Digital Transformation, Joan Ramon Mas.

Innovation and digital transformation

One of the main aspects that The Banker and PWM based their decision to give the award was the innovation and digital transformation plan, which will allow the Bank to adapt to change and continue to be competitive. It is an exhaustive plan that is at the core of business banking development. It addresses the digitisation of product and services that enhance customer relations, make the Bank more approachable to new generations, and improve its internal processes and efficiency.

The judges commended this key strategy for the future growth of the business and for the technological response to the new banking model, both in terms of compliance with regulations and for coming up with solutions to meet customers’ new requirements. Addressing multi-channel banking, customers’ digital experience and cross-sector collaboration, this strategy is reflected in initiatives such as payments from mobiles using the Crèdit Wallet app, new functionalities on the e-Crèdit online banking service in Andorra and other countries, and new digital customer service channels, such as the “My manager” tool to make communications between customers and their managers smoother.

Merkaat, the first digital investment advisor in Andorra, is also the result of this strategy that has warranted recognition by The Banker and PWM. Merkaat is a new business banking model that adapts to new customer profiles, as it allows investments to be made digitally from beginning to end. It is a hybrid digital service that combines the efficiency of automated services in the digital era with the added value of a team of experts that helps customers take decisions. It has a totally customisable portfolio of boutique investment funds that takes an open architecture approach, in line with customer profiles and their objectives. Customers can immediately place purchase and sales orders with the help of the recommendations of Crèdit Andorrà’s experts.

Leader in Andorra and in international expansion strategies

Another of the lines of action that the Financial Times Group’s two publications have highlighted is the implementation of a plan to face the challenge of the new banking environment and to showcase the private banking boutique model. The plan focuses on encouraging efficient, sustainable growth, both in Andorra and on an international level, and to provide new added value products and services to customers, based on customisation, multi-manager funds and open architecture. Crèdit Andorrà has bolstered its private banking and asset management project in Andorra, Europe and the US, whilst retaining its leading position in the Andorran market.

Other awards and ratings of the Crèdit Andorrà Group

The award of best private bank in Andorra in 2018 comes following the Bank also winning this award last year, and being rated as Bank of the Year in Andorra by The Banker in 2016 and 2017.

In 2018, the financial magazine Global Banking & Finance Review once again this year conferred its best private bank in Andorra award on Crèdit Andorrà. This is the sixth year running that the Bank has won this award.




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