illimity - The New Paradigm Bank Qorus Banking Innovation Awards 2019 - Winner

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%