Banking innovation of the month: Merkaat

Innovation of the month

07 December 2017

Efma’s banking innovation of the month award for December goes to Crèdit Andorrà for Merkaat, an end-to-end digital experience in investment advisory.


Launched in 2017, Merkaat combines investment advice with technology and innovation to deliver a 100% digital experience. It provides the benefits and efficiency of digital-age automated services with the personalized service that is essential in private banking. Users have guaranteed access to Crèdit Andorrà team’s knowledge and expertise, as well as customized investments. They can easily contract the service online, receive expert advice for personalized portfolios and place market orders within minutes.

The project is the result of Crèdit Andorrà’s desire to lead the way with a new and innovative business model that can meet the changing needs of markets and the new habits of its younger clients. It formed an incubator and empowered internal talent to develop the project. Its young collaborators identified a potential segment (affluent >€25,000) who wanted to monetize their savings but could not access traditional advisory services for high-net-worth clients. Taking inspiration from the proliferation of robo-advisors and similar services, as well as the growing trend of fintechs who now offer services traditionally offered by banks, the team created Merkaat.

Merkaat handles the sending of professional investment advice, execution of orders and custody of assets on a single platform, without the intervention of third parties. A combination of independent advice and open architecture enable the best internal and external investment proposals. Since its launch, 80% of proposals have been accepted and 95% of orders executed.

The technology used to develop it also means the bank can adapt the service to new territories, easily adjusting to the legal and regulatory characteristics of each country. In the long term this offers high potential to attract clients.

“Merkaat is the first digital investment advisor to respond to the paradigm shift in private banking, as it democratizes advisory services for the affluent segment and adapts to the culture and financial consumption habits of millennials,” says Sílvia Cunill, Innovation, Marketing and New Channels Division Director at Crèdit Andorrà. “It offers new generations who wish to make their savings profitable a pioneering, high value-added service that was, until now, exclusive.”

Merkaat will be automatically selected as a nominee for the Efma-Accenture DMI Awards 2018. Submit your innovations on the Efma Accenture DMI portal. 8 January is the deadline for January Innovation of the Month. Participation is free of charge and open to all financial institutions but Innovation of the month is reserved for Efma members.


Keywords : Trading , Financial advice , Affluent/Private , Digital/Mobile channels

Geography : Andorra