How CMB Monaco turned a luxury wealth management experience digital

Olivier Pagès is Chief Innovation Officer and Chief of Staff at CMB Monaco, a private bank that manages around 20 billion euro in assets. The bank operates in a highly competitive financial market and boasts a top 5 market position among Monaco’s leading wealth management institutions.

During Unblu Impact Day, Olivier shared the ongoing digital transformation initiative that the bank has been working on since 2022.

Video Chapter 1: Introduction

Olivier believes that “tradition alone is no longer enough,” which reflects their commitment to digital transformation – and yet he also maintains that the digital experience should come second in the equation.

New capabilities should facilitate client interactions, while also making bankers’ lives easier. This is the philosophy that the bank has been following while working with four key providers.

Key digital use cases

CMB and Unblu: Understanding the engagement layer

From there, Olivier spends more time delving into the role of Unblu in the overall transformation initiative.

He begins this by introducing CMB Connect – a new secure messaging service powered by Unblu Secure Messenger.

Video Chapter 2: CMB Connect Video

The challenges to overcome

CMB Connect addresses some common challenges.

The heart of the issue

Olivier goes into each of these challenges in the second part of the presentation.

Video Chapter 3: Challenges and pain points

However, he highlights some ways that private banks improve client experience with secure messaging. The first challenge it overcomes is:

“Forbidding WhatsApp is mission impossible” – Olivier Pagès

As most wealth managers are aware, it is difficult to avoid popular messaging platforms like WhatsApp. This is why Olivier says it is essential to provide an alternative.

Providing a 100% premium experience

Avoiding compliance issues is an important benefit of Unblu Secure Messenger, but Olivier and his team want to go far beyond this. They want nothing less than ensuring that their clients get a “100% premium experience”.

This, according to Olivier, is where “Unblu is a gamechanger.”

It is a way to directly, instantly, and securely share documentation with all customer demographics, speeding up the collaboration process and ensuring client needs are being met.

What do they expect from this initiative?

The initiative has just gone live. But Olivier is confident in the project.

But beyond the expected KPIs, Olivier has also identified the benefits of Unblu that are proving transformational for all stakeholders.