The banking group is teaming up with a specialist wealth management firm to build a digital wealth management offering.
Banking Group, the Austria-based banking group, has teamed up
with exchange traded funds specialist Scalable Capital to
help build Raiffeisen’s digital wealth management offering.
Called “WILL”, the offering will be a business-to-business white label solution, Raiffeisen said in a statement last week.
WILL is directly integrated into Raiffeisen Banking Group Austria’s online banking system and is available locally at the regional Raiffeisen Austria banks for existing and new customers. The portfolios include low-cost ETFs and funds from Raiffeisen Capital Management, KEPLER-Fonds and BlackRock.
"With the Raiffeisen Banking Group Austria we add another well-known provider to our international cooperation partners," Erik Podzuweit, co-founder and co-CEO of Scalable Capital, said. "The cooperation underlines our position as Europe's leading provider of white-label solutions for digital wealth management. We want to continue to expand our B2B business in the future."
"WILL" is already available at all Raiffeisen Banking Group Austria banks in Upper Austria, Lower Austria and Vienna and will soon be offered nationwide.
Scalable Capital was founded in 2014 by Erik Podzuweit, Florian Prucker, Adam French (formerly at Goldman Sachs) and Professor Dr Stefan Mittnik (holder of the chair of Financial Econometrics and director of the Center for Quantitative Risk Analysis at the Ludwig Maximilian University in Munich). The firm employs more than 120 people at its Munich and London offices. It oversees €2.2 billion ($2.52 billion) in client assets under management, and 60,000 client portfolios.