Neobanks and the next step: illimity

15/07/2021Interview
Carlo Panella, Head of Direct Banking and Chief Operations Officer at illimity, describes how the organization has grown from a PowerPoint presentation just two years ago to a bank with over 600 employees today.  


The demographics of neobank users are often surprising; it is not only young people who are signing up, but also older age brackets. What is the standard profile of your target customer? What has been key to your customer acquisition success?
 
At illimity, we are proud to be not just a neobank, but a new paradigm bank. These are banks with totally new business models and sustainable strategies. Illimity is a fully digital bank – on the cloud, fully modular, and data centric – and able to capitalize on new technology and with no legacy from the past. Illimity also combines the lean and agile nature of neobanks with the depth of offerings of a traditional bank.
 
This conscious strategy enables us to reach out to all sorts of people, from a wide range of different demographic backgrounds across Italy. Our bank’s average customer is 44 years old, and we have a deposit balance 20 times greater than that of the average challenger bank. Our success comes from the breadth of what we offer, the user experience that generates positive word-of-mouth feedback and an advanced digital marketing approach. Our unique IT architecture also offers competitive advantages, and these will become even more visible in 2021 and beyond.

Want to keep reading?

Create a web account to get access to more insights

Related news & insights

Digital Reinvention
08/01/2025News

Bancolombia unveils “Mi Bancolombia”: A smarter, faster banking experience

Bancolombia has officially launched Mi Bancolombia, its next-generation banking app designed to enhance user convenience and accessibility.

Digital Reinvention
07/01/2025News

AlRayan Bank launches “AlRayan Go” mobile app to transform islamic banking

AlRayan Bank has unveiled its latest innovation, AlRayan Go, a mobile banking application designed to enhance the customer experience while...

ESG
06/01/2025Interview

The changemakers: BCA, a platform that energizes communities

Armand Hartono is the Deputy President Director at BCA. In an interview with Qorus, he explains how the Indonesian bank...

ESG
06/01/2025News

Monzo leads digital accessibility innovation with British sign language service

This innovation enables BSL users in the UK to communicate with Monzo’s customer support team in real-time, breaking down language...

Digital Reinvention
06/01/2025News

Trust Bank Singapore makes saving fun, simple, and automated

Saving money doesn’t have to be a chore, and Trust Bank Singapore has proven just that with their innovative Savings...

Digital Reinvention
06/01/2025News

Bunq revolutionizes banking with real-time speech-to-speech AI translation

This innovation transforms how users interact with banking support, breaking language barriers and simplifying complex processes.

Digital Reinvention
05/01/2025News

SoFi expands access to alternative investments with new robo-advisor platform

Partnering with BlackRock Inc., the world’s largest asset manager, SoFi democratizes access to strategies traditionally reserved for high-net-worth individuals, eliminating...

Digital Reinvention
05/01/2025News

Lunar redefines digital banking with innovative app update 5.0

Released on December 12, 2024, the update introduces groundbreaking features that empower users to craft a tailored banking experience, combining...