SPAXS Brings New Digital-Only Bank to Italy

The video discusses the journey from a smart idea to a reality with 600 million in funding, focusing on creating a specialized bank. Investors are interested due to the reshaping banking industry. The bank has regulatory approval and plans to be fully digital by next year. Growth projections include becoming a 7 billion euro asset bank by 2023. The bank aims to fill gaps left by traditional banks, focusing on specific segments. Challenges include political uncertainties, but the bank is optimistic about its strategy and market position.

What was the initial step taken to accelerate the process of establishing the specialized bank?

• Hiring a dream team

• Acquiring a small bank for a license

• Conducting a stress test

• Launching a marketing campaign

Why did investors decide to support the creation of the specialized bank?

• The bank promised high returns

• The bank offered low-interest rates

• The bank had a strong legacy system

• The industry is reshaping and needs specialized banks

Which segments is the specialized bank focusing on?

• Retail banking and personal loans

• SMEs, mid-quality UTPs, and corporate NPLs

• Cryptocurrency and blockchain

• Real estate and mortgages

What is a key feature of the bank's digital transformation strategy?

• Building a modular IT system with no legacies

• Focusing solely on mobile banking

• Outsourcing all IT operations

• Using legacy systems for cost efficiency

By the end of 2023, what is the projected asset size of the bank?

• €7 billion

• €6 billion

• €5 billion

• €4 billion

What is the main concern regarding the political environment in Italy?

• Increased competition from foreign banks

• Political disorder before European elections

• High inflation rates

• Lack of skilled workforce

What competitive advantage does the bank aim to achieve by being fully digital?

• Lower cost of funds

• Higher interest rates

• Increased physical branches

• Exclusive partnerships with tech companies