Intesa Sanpaolo’s Q1 2020 report showed strong online digital channel usage during the quarter. The bank’s app series is part of its digital strategy to invest €2.8 billion euros to increase its digitized business to 70%. MarketWall developed the app’s stock-trading component, Investo, which was deployed in 2018. MarketWall is 49%-owned by Canadian AI/machine learning firm AnalytixInsight and 33%-owned by Intesa Sanpaolo.
Market Hub is Intesa Sanpaolo’s trading platform, which will also be the execution broker for MarketWall’s European online financial brokerage initiative, once established. MarketWall has applied to become an online financial broker in Europe and is awaiting regulatory approvals.
- 300,000 increase in Intesa Sanpaolo App active users to 5.8 million,
- 60% increase in Market Hub trading orders to 80,000 per day on average,
- 94% increase in digitally completed commercial transactions to 350,000 average for the quarter,
- 12% increase in digital operations to 26 million for the quarter