With the growth in wealth in all regions – and particularly in Latin America, which has seen a soft commodities-boom generate large increases in the high net-worth segment in recent years – the key to serving these clients is efficiency.
Blending customized advice and personal interactions with data-driven analysis in the background has been a winning formula for Santander Private Banking in the region.
The judges noted that the bank’s evolution in its digital platform (including a new app), for which it has been awarded the best digital bank for private banking, is also the foundation of its rightful claim to be the best bank for the HNW segment.
The reliance on technology to underpin the bank’s proposition to this segment has not only generated organic growth in its client base (which grew 10% in the 12 months to September 2023), but has increased Santander’s own business outlook.
Blending customized advice and personal interactions with data-driven analysis in the background has been a winning formula for Santander Private Banking
The judges also noted Santander’s excellence went beyond efficient digital delivery: in the past year the bank has been expanding its investment team to offer its HNW individuals access to innovative products that can enhance long-term return without adding risk – and in many cases reducing performance volatility through the composition of uncorrelated assets within client portfolios.
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