Poste Italiane and Moneyfarm have signed a partnership agreement for the offer of digital investment services and savings management for Poste Italiane customers. This was announced in a joint press release issued by the group led by Matteo Del Fante and by the independent digital asset management company, founded in 2011 and specialized in ETF portfolios, operating in Italy, the United Kingdom and recently in Germany (in joint venture with Allianz ). The agreement specifically provides for Poste Italiane to distribute an ETF asset management service with 7 investment lines (two of which are developed exclusively for Poste Italiane customers), while Moneyfarm will take care of defining and managing the most suitable investment portfolio for each investor.
The agreement between the two companies is also of a financial nature: Poste Italiane has in fact signed a contract with Moneyfarm Holding which provides for a capital increase by the latter for a value of approximately 40 million euro (36 million pounds) through the issue of shares to be subscribed by Poste Italiane, as lead investor, and by Allianz Asset Management (which is currently the reference minority shareholder of Moneyfarm Holding). The private placement transaction will be completed by the end of 2019, subject to the necessary authorizations from the supervisory authorities, and will therefore allow Poste Italiane to acquire a minority stake in Moneyfarm Holding.
“Our strategy – he commented Matteo Del Fante, CEO of Poste Italiane – for financial services based on the Deliver 2022 plan is centered on a product offer destined to become a single point of reference for our 35 million customers. Thanks to the modular and flexible architecture of our technological platform, we are able to integrate innovative players such as Moneyfarm to further develop our multi-channel asset management platform, to better meet the needs of different customer groups. Interaction with customers is fundamental in the evolution of digital financial services and I believe that Poste Italiane has the ideal mix between physical and digital activities to be able to fully seize the opportunities offered by the market".
“This open innovation agreement – he added Giovanni Daprà, CEO of Moneyfarm – represents an important milestone for Moneyfarm. The value of our model, which combines technology and human skills (hybrid model) received important recognition today".
