Bank One: Pushing the Envelope in Product Innovation

Bank One Pushing the Envelope in Product Innovation

Gone are the days when private banking used to be traditional and stodgy. Enter the age of technology and innovation. Or in the case of Bank One Private Banking, the rise of open architecture.

Bank One operates on a total Open Architecture model that offers best-of-breed products from multiple global providers. The collaborative nature of this model allows it to unlock a world of opportunities and deliver a diversified range of local and international solutions, including bonds, equities, ETFs, funds, and structured products. Being the only Private Bank in Mauritius offering an Open Architecture Wealth Management product combined with a real-time digital access and custody solution, Bank One is a true paragon of private banking innovation.

Recognising this exceptional feat, Bank One Private Banking, Wealth Management & Securities Services (Bank One) was awarded Winner, Best Private Bank – South Africa and Best Product Innovation at the Global Private Banking Innovation Awards 2020 (GPB Awards) by The Digital Banker.

Guillaume Passebecq, Head of Private Banking & Wealth Management

Considered as the industry’s most authoritative private wealth awards, The Global Private Banking Innovation Awards 2020 (GPB 2020) organised by The Digital Banker identifies and distinguishes the world’s best in class Private Banks, Family Offices and Wealth Managers that demonstrate elite levels of performance & creativity.

Among the highly respected industry experts who helped select this year’s award winners are leaders from companies such as Forrester, Protiviti and EY. Previous year’s judges include PwC, KPMG, and Fuji Xerox.

“Bank One’s strong innovative culture is a key differentiator for them in the market. Through its 100% Open Architecture platform and Live Custody Software, its customers can grow, manage and preserve their wealth optimally. By combining in-house knowledge and expertise with the best investment opportunities from asset managers globally, Bank One’s clients enjoy greater freedom, greater choice, and greater value,” said Nirav Patel, Managing Director at The Digital Banker, the organiser of the Global Private Banking Innovation Awards during the awards presentation.

In a statement, Guillaume Passebecq, Head of Private Banking & Wealth Management for Bank One Private Banking said: “We are proud to be recognised as Best Private Bank – South Africa and honoured to be awarded for Best Product Innovation by The Digital Banker. Both these awards celebrate the excellent work of our teams but also that of our external asset managers and partners. I believe that in these challenging times, the open architecture model has proven to be more resilient through better diversification of investment holdings. We shall continue to provide our private investors, institutions, external Asset Managers and family offices with tailor-made products and services to meet their financial needs.”

Open Architecture Platform

There is more to growing wealth than simply investing money. And for Bank One, bringing the best investment solutions locally and internationally is the best way to help its customers navigate the complex world of financial services.

In setting up their Open Architecture Wealth Management offer, they have on-boarded the most accomplished asset managers and best-in-class solutions from the financial marketplace. Bank One selected Euroclear as its depositary. Euroclear is rated AA+ by Fitch Ratings and AA by Standard & Poor’s and is a proven and resilient provider of securities settlements, the largest one in the world.  The message that Bank One wants to impart is simple: its clients’ investments are kept off-balance sheet thus providing customers with added peace of mind.

On the other hand, the Bank’s state-of-the-art Custody Platform draws information from multiple sources (local and international) and consolidates data in one portfolio, on one single platform. By simply logging in, Bank One customers are able to view their portfolio’s composition and obtain real-time pricing information sourced from Bloomberg, thus helping them better understand their investment life cycle and make more informed investment decisions.

Bank One operates on a total Open Architecture model that offers best-of-breed products from multiple global providers.

Making a difference in Africa and beyond

Bank One responds to today’s challenges with bespoke securities services designed to cover all the activities of the banking value chain. With its on-the-ground presence in Africa and a robust custodian network that extends over 50 countries, the client’s interests are always at the heart of Bank One.

Bank One has a direct link to global custodians and agent banks that allow them to open accounts in a wide range of markets to facilitate clients’ investment needs. The Bank has the capabilities for the safekeeping of most asset types including equities, ETFs, bonds, structured products, Mauritius Treasury Bills, mutual funds, hedge funds, money market funds and more. Its shareholders’ strong footing in Africa grants them an easy access to the securities markets in Kenya and Rwanda, positioning Bank One as a favourable bridge to the booming East African market.

For Bank One, bringing the best investment solutions locally and internationally is the best way to help its customers navigate the complex world of financial services.

Because of these, the team has counted numerous achievements, which include:

  • Development of a full-fledged Custody platform that allows clients to view their portfolios on-line and in real-time
  • The first bank to have successfully on-boarded a Mauritian Rupee Fund on the Euroclear platform and executed a subscription order. This endeavour has greatly benefited local fund managers, whose funds are now available on an international platform, allowing them to target a wider range of investors across geographical locations.
  • Founded the Investor’s Circle, a biannual networking event that brings together private investors, institutions, asset managers and service providers. The island’s very first B2B platform for finance professionals, Investor’s Circle allows players from the industry to connect, exchange ideas and address shared challenges.

***

>> To read more about this story and other exclusive features about the global private banking landscape, download the latest issue of Global Private Banker Magazine HERE.

Shopping Cart

Media Kit

    Data Protection

    The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

    The Digital Banker Summit

    Moving on from FTX: is 2023 the year of CBDCs?

    Indonesia, Jakarta

    Thailand, Bangkok

    Philippines, Manila

    Contact Us

      Data Protection

      The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

      Request Nomination Pack

        Data Protection

        The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

        Registration Form

          Data Protection

          The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

          Registration Form

            Data Protection

            The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

            Registration Form

              Data Protection

              The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

              Registration Form

                Data Protection

                The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

                Registration Form

                  Data Protection

                  The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

                  The world’s preeminent Private Banks and Wealth Managers are demonstrating a committed drive in innovation, advisory, new products and services to meet the sophisticated needs of their clients.

                  COVID-19
                  Amid economic activity revival on the back of the Covid-19 vaccine program, organisations moving from business continuity plans to stable working environments, together with the slightest improvement in unemployment numbers, forced the world to adjust to new realities. Coming to terms with the “new normal”, global investors are now on the look-out for attractive and stable investment opportunities.

                  Needs of Private Wealth customers and families worldwide have drastically changed due to the pandemic and banks have had to accelerate efforts to deploy a multi-channel service strategy and safeguard clients’ businesses and wealth against negative impacts of economic uncertainly.

                  The Global Private Banking Innovation Awards will recognise the world’s best private banks, wealth managers and asset managers that are championing innovation across advisory, service, products, customer experience and more.

                  Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. 

                  Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum.

                  Request Nomination Pack

                  Error: Contact form not found.