Targets private clients who fall into both traditional Private Banking and Affluent
Participation in “PrivilEDGE” is by invitation and requires at least the creation of an investment relationship.
By Panagiotis Rougalas
The Bank of Cyprus is creating an exclusive club for individuals, to support the needs of its customers who are a more high income class with integrated banking and investment products and services.
The head of the newly established club for private and affluent clients of the Bank of Cyprus, Christos Ioannou, speaks about “PrivilEDGE” to “K”, emphasizing that “PrivilEDGE” comes to redefine personal banking based on interpersonal relationships.
He explains to “K” that participation in the program is by invitation and requires at least the creation of an investment relationship and emphasizes that it is not just a means, but a one-stop shop for club members. As he describes, the value of “PrivilEDGE” is the ability to create a real advisory relationship based on personal contact with the client.
– What is “PrivilEDGE” launched by Bank of Cyprus?
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– “PrivilEDGE” is Bank of Cyprus's promise to support a segment of the market that has increased and more complex needs through an exclusive club for individuals. In an age where digital banking has become an essential service, financial advice and communication through a personalized personal approach become especially important and necessary. “PrivilEDGE” offers a proposition unlike any other we have seen in the Cypriot market and seeks to support the needs and financial goals of higher income clients with integrated banking and investment products and services.
– Will there be any kind of privileges? Will it be among those participating in 'PrivilEDGE'?
– PrivilEDGE participants will have a personal advisor for banking and investment needs, a package of exclusive benefits including discounts, sweepstakes of unique experiences and access to high-end concierge services on a global basis through our partnership with VISA Infinite, access their investment portfolio in real time through 1Bank with a refreshed look and feel and enjoy a simple and transparent pricing structure. What I have to say is that, in an age where self-service is not enough on its own, PrivilEDGE is here to redefine personal banking based on interpersonal relationships.
– The Is Bank of Cyprus ready to deliver on its promise to provide a “pioneering personal banking service”?
– We have everything our customers need. A strong team of experienced investment, wealth management and financial planning professionals, the largest client base in the domestic market and a wide range of personalized services to meet more complex needs of our select clients.
Invitation Only
– How does one become a PrivilEDGE customer?
– Participation in “PrivilEDGE” is by invitation and requires at least the creation of an investment relationship. We target private clients who fall into both traditional Private Banking and Affluent. Some examples of the profile of clients who can join the club are as follows: Individuals who have a significant amount of investable capital at their disposal, allowing them to pursue a wide range of investment opportunities. At the same time, high income individuals who have the ability to pursue investment opportunities. Additionally, emerging affluent individuals who have a savings goal and who have a deep understanding of various investment options and would be interested in learning about investment opportunities. In closing, entrepreneurs and business owners who wish to expand their wealth through strategic investment decisions.
– Yes, but why 'PrivilEDGE' and not a digital investment platform?< /p>
– There are some great platforms in the market that allow easy access to investments. However, they are just a means to execute customer instructions and provide nice dashboards. “PrivilEDGE”, is not just a medium, but a onestop shop for club members. The value of “PrivilEDGE” is the ability to create a true consulting relationship based on personal contact with the client. Although technology is making great strides in robo-advisory using artificial intelligence (AI), the complex nature of wealth management combined with financial and other needs requires a personalized approach. For us, this is also the added value we offer. The continuous and correct provision of personalized solutions.
– How will Bank of Cyprus differentiate itself in the local market?
– This specific solution is not offered in the market. We are the largest and most trusted financial institution in Cyprus and we will continue to do what we do best. To guide customers from their simplest banking needs to the most complex.
