Alpian obtains FINMA banking license and secures CHF 19 million Series B+ financing

Originally incubated by REYL Intesa Sanpaolo, the Swiss banking group majority-owned by Fideuram - Intesa Sanpaolo Private Banking, Alpian secured a third round of financing which was fully subscribed by the Intesa Sanpaolo Group. It follows a Series A of CHF 12.2 million in 2020 as well as a Series B of CHF 16.9 million in 2021 and will directly support the deployment of Alpian’s whole range of services in Switzerland, comprising both private- and online banking services.

Thanks to the newly obtained FINMA license, which will enter into force upon the completion of certain formal conditions,  Alpian will shortly launch its alpha release to internal employees and is set to offer its services to the public by Q3 2022. Through the combination of both machine and human intelligence, Alpian will introduce private banking services and investment expertise to the Swiss affluent.

This hybrid model combines a secure, state-of-the-art banking experience with the support and guidance of Alpian’s qualified wealth advisors, giving affluent clients access to a service normally reserved for those at a traditional private bank.

To complement its private banking services, Alpian has seamlessly woven everyday banking features into its digital client experience, including a simple and cost-effective foreign exchange and bank transfer service, an exclusive metal debit card with in-app card controls, and a chat interface allowing clients to communicate with Alpian’s Swiss-based banking specialists in the four supported languages.

Schuyler Weiss, CEO of Alpian, commented:

"Since 2019, we have built what will become Switzerland’s first digital private bank. With the funds raised during the Series B+ and with its new standing as a licensed Swiss bank, Alpian is well equipped to launch its offering and to start the process of earning the trust of each and every one of its future clients.”

Pasha Bakhtiar, REYL Intesa Sanpaolo Partner and Chairman of the board at Alpian, added:

“We are proud to have passed these two milestones on our way to delivering a truly unique and bespoke digital private banking offering. The successful journey so far is a testament to the resilience and dynamism of the Alpian team, as well as the vision of REYL Intesa Sanpaolo in incubating Alpian.”

Luca Bortolan, Head of Direct Bank Fideuram Intesa Sanpaolo Private Banking, added:

“From the beginning, we have seen Alpian as a great opportunity to invest in the development of digital private banking. Alpian will bring both strategic and synergy driven value, enabling Fideuram to demonstrate its proactive commitment of addressing the needs of its current and future clients, promptly adapting its offering to the customers’ preferences.”

About Alpian SA

Alpian is a Swiss financial technology company incubated by REYL Intesa Sanpaolo and incorporated in October 2019. Alpian has received a  banking license from Switzerland’s Financial Market Supervisory Authority (FINMA) in March 2022, and will thus become Switzerland’s first-ever digital private bank. 

About REYL Intesa Sanpaolo

Founded in 1973, REYL & Cie is a diversified banking group with offices in Switzerland (Geneva, Zurich, Lugano), Europe (London, Luxembourg, Malta) and the rest of the world (Singapore, Dubai). It manages assets in excess of CHF 25 billion and employs over 400 professionals. In 2021, it entered into a strategic partnership with Fideuram - Intesa Sanpaolo Private Banking, a leading European banking player, pursuant to which Fideuram ISP acquired a 69% stake in REYL & Cie.

Developing an innovative approach to banking, REYL & Cie serves a clientele of international entrepreneurs and institutional investors through its Wealth Management, Entrepreneur & Family Office Services, Corporate Finance, Asset Services and Asset Management business lines. It has further diversified its activities in the areas of impact investing, through the launch of pure-play impact asset management firm Asteria Obviam, and of digital banking for mass affluent clients via the incubation of Alpian. In December 2021, REYL & Cie acquired a 40% stake in 1875 Finance, a Geneva-based multi-family office and independent asset manager with over CHF 12 billion of assets under management for private clients.

REYL & Cie Ltd is licensed as a bank in Switzerland and performs its activities under the direct control of the Swiss Financial Market regulator (FINMA). Its subsidiaries are also regulated by the FCA in the UK, the CSSF in Luxembourg, the MFSA in Malta, the MAS in Singapore, the DFSA in Dubai and the SEC in the United States.

About Fideuram Intesa Sanpaolo Private Banking

Headquartered in Milan, Fideuram Intesa Sanpaolo Private Banking is the leading private banking player in Italy and a key subsidiary of the Intesa Sanpaolo Group, which controls all the group's private banking activities. As of 31 December 2021, Fideuram Intesa Sanpaolo Private Banking had 4,013 employees, 6,594 private bankers, assets under administration of 341,2 billion euros and net deposits of over 15,7 billion entrusted by over 998,000 customers. Fideuram Intesa Sanpaolo Private Banking owns a 69% stake in REYL Intesa Sanpaolo since May 2021.