Azimut goes live with its Direct to Consumer (D2C) pure-play strategy supported by FundsDLT and an ecosystem of fintechs, resulting in a compelling digital solution.
On 3 May, Azimut, Italy’s leading independent asset manager, announced the public launch of its Beewise investment application. Beewise enables direct, fully digital investments for individuals and is powered by FundsDLT.
The aim of the Beewise investment app is to make investment simpler and more accessible for all. It offers access to a range of thematic portfolios with a minimum investment as low as ten euros. It also empowers investors to set up a monthly investment plan on their own.
To help achieve this goal, an entire system was put in place that enables Azimut to significantly reduce existing industry-wide inefficiencies in investor onboarding and transaction processing. Under this innovative, Direct to Consumer model for fund distribution – that covers investor account opening, order processing, cash settlement and register maintenance – asset managers can thus have a cost-effective and client-centric approach while leveraging their own brand values.
With this app, accounts can be created digitally and within minutes and processing is frictionless. As part of the onboarding process, the app ensures that all KYC, MiFID2, PSD2 and investor information requirements are fully complied with and in an automated manner.
In addition, FundsDLT provided functionalities for Azimut to manage itself the local Italian taxation related to marketing foreign funds in Italy. The role of a withholding agent, or “sostituto d’impostae” is one that asset managers usually outsource in Italy. This functionality also includes all associated reporting to investors.
This D2C app allows asset managers to target and reach new segments and grow assets under management. Significantly, because of the fact that it is blockchain-based and the entire process is digital, asset managers can thus easily and efficiently monitor, manage and advance D2C fund distribution.
FundsDLT is pleased to have been involved in this significant step for European investment fund distribution. We look forward to many more in the future and continue with our mission to create next-generation solutions throughout the distribution chain.