Birdee has become the Sutor banking platform’s first international robo-advisor.
Birdee has a Luxembourg asset management license and offers clients in Belgium and Luxembourg investment opportunities in ETF portfolios. Clients can define their financial goals and go through a risk profile evaluation, after which Birdee will propose an investment strategy from one or several of its 17 model portfolios which include thematic investment in areas such as biotechnology, property or sustainable businesses.
Sutor Bank is taking on the administration of Birdee’s customer portfolios as well as the trading of the ETFs. The communication between Birdee’s fully digitalised investment platform and the bank’s portfolio and management system is fully automated and carried out using an interface (API). The onboarding of the clients, as well as the ordering of funds and transmission of the up-to-date portfolio data, is done via the API.
The decision to work with Sutor Bank rather than a domestic bank
Birdee was developed using technology and algorithms from financial software house Gambit. Recently the major French bank BNP Paribas acquired a majority share in the Gambit company (Gambit Financial Solutions), which therefore created new potential for the recently launched robo-advisor. The market for robo-advisors in the Benelux countries and France is less developed and is spread more thinly than the German or British markets.
“We underwent an intensive search in 9 European countries for a bank that was able to offer us what we needed for the implementation of our business model: the digital interfaces on the one hand, and the necessary investment technology on the other. We didn’t find what we were looking for and we therefore decided to choose Sutor Bank as our banking partner,” explains Geoffroy Linard, general manager of Birdee.
“We are already cooperating with numerous foreign banks through our collaboration with our partner Zinspilot, and our API accounts are used by businesses in Austria and the Netherlands. We are pleased to have carefully taken the next step towards internationalisation through our cooperation with Birdee. We see a significant potential in cooperating with partners within the European Union,” says Robert Freitag, general manager of Sutor Bank.
Contributed | what does this mean?