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About
illimity is a new paradigm bank, specialized in three relevant and underserved markets in the Italian marketplace (SMEs, Corporate NPL and Direct Banking); it relies on the best information technology (IT) and guarantees new levels of quality, service and efficiency, all this without ever losing the human connection: its innovative business model makes it possible to deliver a best-in-class value proposition to its customers.
Innovation presentation
The banking industry is going through an unprecedent revolution which will open the doors to new specialized players that could achieve a competitive advantage by focusing on underserved market segments and by reinventing the way of covering customer needs pursuing a real customer centricity.
Illimity is a new paradigm bank, embracing this concept and specialized on three key segments: SMEs, Corporate NPLs, Direct banking for individuals and SMEs.
The bank’s competitive advantage is based on
Zero legacy bank (no IT legacy systems, business model fitting this purpose),
Fully Digital (no physical channels)
Human Touch (skilled SMEs tutors and Smart Customer care to effectively serve direct banking customers)
Lean&Fast (flat agile organization with delivery and time-to-market of a real start-up)
Cost Effective
In ~6 months, illimity evolved from being a concept to raising 600m € capital being the most successful European SPAC in 2018 to a fully operational bank listed on the MTA.
After 12 months, we are about to launch the Direct Bank with a fully-fledged banking value proposition, that will soon include open banking-powered products such as loans, insurance, FX exchange, mortgages… powered by a strong AI engine to offer best-in-class financial products and services to our customers.
illimity’s goal is to position itself as a primary bank, building valuable long-lasting relationships with customers as opposed to blitzscaling, and achieving the following targets to be achieved by 2020:
Total assets €3.5–4.3bn
Net Profit 55 –70 mln
ROE 9%-10%
CET1 15%
Uniqueness of the project
Illimity’s competitive advantage is based on five key features:
Zero legacy bank – no existing IT legacy systems or products to cannibalize and we have shaped a business model fitting the bank’s purpose.
Fully Digital – modular IT systems which allow quick and continuous upgrades. All products (both owned and third parties) will be fully digitalized and powered by data alongside the rest of the organization (servicing, decision making, etc.)
Human Touch –New interaction model based on digital first but with strong human component. Our killer application are our skilled tutors with experience within each specific industry, who will guide SMEs through their projects
Lean & Fast – Flat organization with the agility and time to market of a real start-up.
Cost Effective – We will have a structural advantage in terms of operating costs versus the old incumbents and we will have a structural financial cost advantage versus the new players.
