On December 11, 2017, AXA Bank Belgium announced the launch of a new tool to support its clients in anticipation of their retirement.
This tool, GPS, has been deployed in collaboration with Gambit Financial Solutions, which developed the design, customer journey and algorithms according to AXA Bank specifications.
GPS is meant to help banking agents better advise their clients in the foundation and management of their wealth, with a view to their retirement.
Retirement is a key issue that few people anticipate. In Belgium, the average pension is 1.065 euros, well below the standard of living a pensioner needs to maintain his standard of living (2.160 euros). It is this difference that is called “pension gap”.
To raise customer awareness on this subject, AXA Bank has decided to invite their customers for an interview in branches. During the meeting, the bank’s agent can perform simulations and establish with the client a financial plan.
Thanks to the fully digital GPS tool, the agent can calculate the “pension gap” of his client, future pensioner. In a second step, he will be able to determine with him his risk profile, thanks to a digitized Mifid questionnaire. Then the Axa’s agent can make a proposal for optimal allocation of an investment portfolio that will allow the client to reduce his “pension gap”.
“As a banker, we have an important role to play in supporting our clients to build and manage their wealth. That’s why we have developed this GPS tool”, says Peter Devlies, CEO of AXA Bank Belgium.
“We have chosen Gambit Financial Solutions for their expertise in innovating financial solutions. Thanks to this expertise, we managed to create a unique investment advice tool which is not only lovely, but also powerful”, add Xavier Gys, Head Of Invest of AXA Bank Belgium.
Gambit is proud to be part of this strategic decision support tool for AXA Bank. “AXA Bank’s ambition to provide better customer support through digital innovation and a unique customer experience perfectly matched our vision. Thanks to the excellent collaboration within the project team, the GPS tool was successfully developed in record time”, summarizes Ken Van Eesbeek, Head of Sales at Gambit Financial Solutions.