Honouring the traditions of private banking while embracing the digital revolution will drive transformation forward in the private banking sector, CEO of Pilatus Bank states

LONDON, Oct. 26, 2017 -- Despite being an inherently conservative industry, significant technological advances are evolving within the private banking sphere. CEO of Pilatus Bank, Hamidreza Ghanbari, believes that understanding clients’ financial aspirations and circumstances have never been more critical when trying to get ahead in an increasingly digitalised industry. Ghanbari explains, “We are experiencing a strong demand from customers to evolve and become more innovative through digital banking service offerings, nevertheless the same clients are still expecting tailor-made and personalised services.” The Pilatus Bank CEO expands, “Private banking as an industry, although relatively conservative, is adapting to new technologies in order to optimise performance and better serve clients. Through digitally enhanced products, clients are expecting their banks to become even more agile, proactive and responsive. However, since digital innovation also carries a sense of uncertainty, one can expect client behaviour to remain more thoughtful, making the role of the trusted relationship manager even more essential.”

Pilatus Bank CEO Hamidreza Ghanbari

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/53d0a3c9-eb77-44c6-b965-62e0add1ce30

In a rapidly digitalized society, whereby increased smartphone and online banking is causing a shift away from branch banking, Hamidreza Ghanbari of Pilatus Bank believes that human interaction will continue to play an integral role in serving clients. He says, “Most retail banks today are enabling their customers to perform their banking transactions using their smartphone or through online banking; hence, they never have to set foot in a branch. Due to the nature of private banking and the clientele it serves, this isn’t always applicable to private banking clients.” Ghanbari elaborates, “At Pilatus Bank we recognise that whereas our clients may be comfortable conducting their routine banking needs online or through a banking app, they still prefer to have a face to face meeting when discussing substantive financial matters or performing larger banking transactions.”

In an effort to evolve with the digital revolution, Pilatus Bank has developed its proprietary digital platform ARX™, with a focus to preserve the characteristics of private banking. Hamidreza Ghanbari reiterates that recent advances in automation and artificial intelligence, as efficient as they may be, are not always suitable when dealing with multifaceted financial circumstances for affluent clients, who value exclusivity and security. He explains, “Expanding the traditions of the private banking model by ‘knowing and being known by your banker’ is extremely important to us. Therefore, our banking app enhances the client-banker human interaction and relationship, rather than moving toward sole automation. We believe this is a unique way of embracing technology whilst still honouring human interaction.” Ghanbari concludes, “Pilatus Bank is leading the way for incorporating digital innovation in private banking by offering a personalised service with long-term value and security in a continuously evolving digital age.”

About Pilatus Bank

Pilatus Bank is a leading European bank that specialises in providing private and commercial banking services to high net-worth and affluent individuals. Pilatus Bank, located on 4 Old Park Lane, W1K 1QW in London, is mainly focused on offering its private banking services through its proprietary technology platform in order to make private banking more accessible and scalable. The Bank’s simple and convenient solution has been a hallmark of transformation and quality of service. You can learn more by visiting the Pilatus Bank website.

Hanna Olofsson
Pilatus Bank
+44 (0)330 3636360