Whenever the topic of digital transformation, or disruption, comes up, many think of the fate that has befallen many famous names like Kodak and Blockbuster or the triumphs of others like Amazon. As we all know, technology has the power to revolutionise entire industries.

The financial services industry is, of course, not immune to disruption as the rise of fintech has clearly shown. These changes can create challenges for organisations like MeDirect which seek to offer a best-in-class digital customer experience while also operating as a fully regulated bank.

As Malta’s first digital bank, MeDirect has embraced this new reality and made excellent progress. Our attitude is to be customer-centric and focused on providing customers with full digital access to information and tools through our mobile app and online banking platform, supported by its award-winning onboarding flow. This approach empowers customers to invest and manage their finances in a convenient way that suits their needs and goals.

MeDirect customers are being given access to investment and wealth management products and services that were previously available only to high-net-worth individuals.

A clear example of this is MeManaged, our fully digital discretionary portfolio management (DPM) service. DPM is a type of investment management service where a professional portfolio manager is given full authority to manage an investor’s portfolio on their behalf. The key aspect of the service is that the portfolio manager understands the investor’s goals and risk appetite and executes an investment strategy accordingly, leaving the investor free to get on with their life.

The need for a relationship between investor and portfolio manager and the perceived complexity of developing a personalised investment strategy have always been held up as reasons to restrict accessibility through high minimum investment amounts and costs.

By creating an intuitive online questionnaire which identifies our customers’ investment objectives and risk profile, partnering with BlackRock, which is the world’s largest asset manager to deliver the service, and making it possible to start investing from just €100, we have completely digitalised and democratised this service.

For a limited period, up to June 30, MeDirect is also offering top-ups of up to €200 for those who open a MeManaged account and invest at least €2,000.

Digital transformation in the financial services industry may have been a long time coming but with MeDirect, Malta has a pioneer that is committed to using technology to make the lives of customers easier and more prosperous.

More information is available at https://www.medirect.com.mt/invest/discretionary-portfolio-management/.

Chris Darmanin is senior product manager at MeDirect.

This is a marketing communication by MeDirect Bank (Malta) plc. Terms and conditions for the promotion, which is valid for a limited time only apply. MeDirect Bank (Malta) plc, company registration number C34125, is licensed to undertake the business of banking in terms of the Banking Act (Cap. 371) and investment services under the Investment Services Act (Cap. 370). 

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