Carlo Panella
ILLIMITY GROUP
Head of b-ilty Division
Carlo Panella is a management engineer with a managerial background focused on transformation, starting in multinational companies such as DHL and Vodafone. In 2000, he joined WeBank, transforming it into a benchmark for the industry. After WeBank, he became the GM of an IT outsourcing company for banks, with a challenge to offer digital turnaround services for small and medium-sized banks.
He joined the illimity as a founder to startup the Direct Banking Division, leveraging his over 20 years of experience in digital transformation. He is currently the Head of the b-ilty Division. Carlo is married to Elisabetta and has two daughters: Carolina Sole and Elena.
"A bank should play a proactive role by providing digital solutions, tailored financing, advisory services, supporting e-commerce integration, and promoting sustainability practices."
In the course of your career, what have you seen change in terms of demands/needs of SME clients? And what role should a bank play in meeting these demands?
In recent years, there have been several notable changes in the demands and needs of SME (Small and Medium-sized Enterprises) clients coming directly from the evolution of habits and technology.
- Digital Transformation: SMEs now have a greater emphasis on digitalization and technology adoption. They seek efficient online banking services, seamless payment solutions, and digital tools to manage their finances and operations.
- Access to Financing: SMEs often face challenges in accessing capital. There is a growing demand for flexible and tailored financing options, including quicker loan approval processes, alternative lending models, and access to venture capital or angel investors.
- Business Advisory Services: SMEs increasingly value financial advice and guidance beyond traditional banking services. They seek expertise in areas such as financial planning, risk management, market analysis, and growth strategies. They rely on their banks to provide valuable insights and support in navigating complex business landscapes.
- Integration of E-commerce: The rise of e-commerce has significantly impacted SMEs. They require integrated payment solutions, online sales channels, and tools to manage inventory, track sales, and analyze customer data. Banks can play a crucial role in facilitating these capabilities and helping SMEs adapt to the changing business environment.
- Sustainability and Social Responsibility: SMEs are placing greater importance on sustainability practices and social responsibility. They seek financing options for eco-friendly initiatives, support in adopting sustainable business practices, and guidance on meeting regulatory requirements related to environmental and social issues.
A bank should play a proactive role by providing digital solutions, tailored financing, advisory services, supporting e-commerce integration, and promoting sustainability practices.
What have you found to be effective in leading your SME banking team/in your leadership position?
To be effective it is important to move with a two ways approach: managing daily activities, dealing with customers and process improvement and in the mean time, design tomorrow’s digital bank.
Having a focus on P&L and on the short term gives the strength to work on innovation, having solid foundations of credibility and results derived from a solid income statement, while thinking about the future provides a drive and recognition that make the team proud to be an innovation engine.
"Illimity is a young bank, established in 2018 and in these few years reached over 6bn assets and a market leadership position."
Briefly describe, what would be your top 3 achievements/ projects delivered by your bank for SME customers?
Illimity is a young bank, established in 2018 and in these few years reached over 6bn assets and a market leadership position.
Looking to digital banking the three main achievements are:
- Fully fledged SME banking platform enabling a paperless experience and addressing al SME needs in terms of transactions, credit, account management and relations with the bank
- Digital credit engine allowing data driven customer analysis and loan underwriting and disbursement enabling fast time to yes and cash
- The strong partnership network broadening offer and extending the business generated by the direct channels
b-ilty is the unique Italian fully fledged digital bank for SME so far.
What would be the most significant business case that you've applied and learned the most out of it? Both positively or negatively?
The most significant business case is coming from the adoption of new technologies for banking in the SME Market and the wiliness to go digital in areas regarding financial situation of the companies.
The speed of change in habits is driving a prudent approach while talking about SME both from a customer and bank’s perspective.
The value of physical advisory and the need of support (or consultancy) make SME market apparently not as evolved as the consumer one.
Using an hybrid configuration, blending deepness of physical support with easiness of digital process creates a real boost in Digital Banking result with an efficient and sustainable business model.
