Professional Wealth Management (PWM) magazine, part of Financial Times group, awarded Santander Private Banking with its Wealth Tech award for the best private bank in Latin America for their use of technology.

Madrid, 26 June 2020.
The Financial Times' Professional Wealth Management (PWM) magazine has awarded Santander Private Banking with the Wealth Tech award as best private bank in Latin America for its use of technology. This award recognizes the Virginia and Masttro solutions for Santander customers, and SPiRIT for their bankers. Among other functionalities, Masttro is a programme which generates ad-hoc reports according to the specific requests of Santander customers. Spirit enables the private banker to provide advice through customized algorithms that generate recommendations adapted to the individual needs of each customers. In addition, Virginia provides clients with access to all the information they need to meet their investment objectives and manage their finances more effectively.

This award is a recognition of the increasingly important role of digitalization in the private banking sector and is particularly relevant in the current situation. 

The magazine PWM, specialised in analysis of growth strategies of private banks and the regional financial centres in which they operate, presented the PWM Wealth Tech Awards for the third year running. In all three years, it recognized Santander Private Banking for its initiatives. The PWM Wealth Tech Awards aim at gathering qualitative and quantitative information from private banking groups to be able to give a set of awards for excellence in the use of technology and digital communication.

Victor Matarranz, global head of Santander Wealth Management & Insurance, said: "These are times in which technology and digitalization are our allies, and at Santander Private Banking we are constantly working to be at the forefront of innovation by developing tools and resources that improve the solutions we offer to our customers. Over the past few months and thanks to all tools at our disposal, we have shown we are ready to respond to the needs of a rapidly changing world. All our private bankers have maintained constant contact with their clients, keeping them informed at all times during these crucial moments.”

Santander Wealth Management & Insurance is the global division of Santander Group that includes the Private Banking and International Private Banking, Insurance and Asset Management businesses. It has operations in more than 10 markets in Europe and the Americas and almost 3,000 employees who share a common aim: to become the best and most responsible wealth manager in Europe and the Americas. By the end of the first quarter of 2020, it had 345 billion euros in assets under management and a net profit of 240 million euros (21% more than in the first quarter of 2019).