ABBL Bank CEO - FinTech

Speed Meeting Event:

25 January 2024

Context

In 2019, one our real estate clients mandated us for the treasury management of one of their property development.

We were requested to centralise the cash flows and secure the payment flows with their providers, as well as between the group's entities.

The project was expected to be completed by 2020Q1. The project was confronted to several operating and financial pitfalls.

The mandate's complexity was based on the following scopes:

• 3 countries
• 4 accounting firms
• 2 validation processes with 3 or 6 stakeholders involved for each process
• 5 banks with dedicated processes

Objective: a digital solution that fits a smartphone screen

We quickly addressed this challenge by developing an app, which had to answer the following constraints:

• Minimal settings for an effective governance
• A resilient solution adapted to any existing infrastructure
• A clear and transparent decision-making process

Outcome: a success to deliver an agile, project-ready solution

• 3 months of operation; 500 invoices; €20 Mios paid
• decrease of operating and financial risks:
• Shorter payment schedules from several months to one week
  
• Centralised invoices system to avoid duplication and to prevent duplicate payments
  
• Cash flow statement published every 2 days for a more informed engagement from the governance
  
• Liquidity management by 2 human resources: 0,5 fte from our firm and 1fte from the client.
  

Synergies

UHNWI's asset allocation

FINANCIAL ASSETS

EMOTIONAL ASSETS

LIFESTYLE

Private Banks and Wealth Managers are focused on portfolio management in order to generate maximum returns to facilitate the achievement of investment objectives.

Tangible assets with physical existence (we can touch, feel, and see them). It hard to justify the inclusion of emotional assets in the portfolios of most Private Banks

Internationally mobile, UHNWI with complex, cross-border affairs. UHNWI need for easy access to experts for multi-currency IBANs; high-balance payments, foreign exchange and expense management systems.

Our value offer is to secure the fluidity of UHNWI's liquidity through these categories, while ensuring regulatory and compliance constraints.

>> the Client relates to WealthTech for invoice & cash flow management on his emotional asset(s)

<< WealthTech follows the payment governance

>> The Client relates to his private bank for wealth management

>> the Bank executes a monthly payment to the Clients account under WealthTech Management

<< WealthTech reports to the Bank the final the payments and proofs of payment executed with the monthly payment

Luxembourg

200 Rue Principale

L-5366 Munsbach

Switzerland

Baarerstrasse 25

CH-6300 Zug

France

27 rue des Laitières

94300 Vincennes

Greece

9 Evangelistrias Street

49100 Corfu

Contact

Charles Berthillon

(352) 621 417 471

charles@WealthTech.lu

PEOPLE

8 Dedicated Subject Matter Experts

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FOOTPRINT

Switzerland

Luxembourg

France

Greece