Belgian robo-advisor Gambit Financial Services will become the partner for robo-advisory solutions at BNP Paribas Group’s retail and wealth management services.
The announcement comes after BNP Paribas said it bought a majority stake in the robo-advisor. Their purchase was prompted by BNP’s focus on keeping up with changing customer needs, the bank said.
Launched in 2007 as a spin-off from HEC – University of Liege by renowned academics, Gambit has successfully developed its expertise in investment advisory solutions and in the digitalisation of customers’ engagement with financial institutions. Gambit has also recently launched Birdee, a proprietary B2C robo-advisor. These solutions, which have regulatory approval, are being rolled-out by a growing number of private and retail banks, asset managers and insurance companies in Belgium, Luxembourg, France and Switzerland.
Geoffroy de Schrevel, Chief Executive Officer of Gambit Financial Solutions: “We are proud to have entered into a strategic partnership with BNP Paribas Asset Management, the investment management arm of BNP Paribas. “…” This partnership marks a critical step in our development, with the support of a major financial institution and additional resources to fuel our growth. This will be instrumental for our future development, while allowing us to maintain our autonomy, governance and culture.”
Frédéric Janbon, CEO, BNP Paribas Asset Management, says: “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.”
While Gambit will serve as BNP’s “preferred partner” for robo services, the company will continue to operate independently for now.