Italy’s largest bank, Intesa Sanpaolo (ISP.MI), announced on Friday that its Fideuram private banking arm is expanding its digital investment services into Belgium and Luxembourg through a strategic partnership with BlackRock (BLK.N). The move highlights the growing trend of digital wealth management solutions across Europe and reflects rising investor demand for accessible, technology-driven investment options.

Fideuram Direct: Digital Wealth Management for Modern Investors

Intesa Sanpaolo launched Fideuram Direct two years ago as a digital platform aimed at providing private banking clients with self-directed investment options. Since its inception, the service has grown significantly, now serving 81,000 clients and managing €3.3 billion ($3.85 billion) in assets.

The platform offers a range of investment products, including Exchange Traded Funds (ETFs) from BlackRock’s iShares, Europe’s leading ETF provider. Through the mobile app, clients can access investment portfolios, track performance, and manage assets digitally, bringing private banking capabilities directly to users’ smartphones.

Intesa Sanpaolo plans to enhance the service further by integrating remote adviser support, allowing clients to consult financial experts virtually. This hybrid approach combines digital convenience with personalized advisory services, catering to a growing segment of investors who prefer technology-driven solutions while retaining access to professional guidance.

Strategic Expansion into Belgium and Luxembourg

The expansion strengthens Intesa Sanpaolo’s presence in Belgium and Luxembourg, markets where the bank already operates through Intesa Sanpaolo Wealth Management. According to the bank, over 80% of Belgian consumers access banking services via mobile apps at least once a month, with 26% reporting increased usage of digital channels compared to the previous year.

Luxembourg, a major financial hub, has demonstrated strong demand for advanced digital investment platforms, making it a natural market for Fideuram Direct’s expansion.

Partnership with BlackRock

The collaboration with BlackRock, initiated in 2024, aims to expand the digital investment offering across multiple European markets. By leveraging BlackRock’s extensive ETF product suite, Fideuram Direct provides clients with access to diversified investment strategies at a low cost, aligning with the bank’s objective of innovating digital private banking services.

According to BlackRock’s People and Money Survey 2025, Belgium’s ETF market has grown by 43% since 2022, indicating robust investor appetite for ETFs and digital investment tools.

Implications for Investors

The expansion of Fideuram Direct underscores several key trends in wealth management:

1. Digital adoption is rising: Mobile apps and online platforms are increasingly central to investment management in Belgium and Luxembourg.
2. Hybrid advisory models: Combining digital platforms with remote advisory services provides clients flexibility and professional guidance.
3. ETFs remain a key growth area: The popularity of ETFs in Europe highlights demand for diversified, low-cost investment products.
4. Private banking is becoming more accessible: Digital platforms allow private banking services to reach a wider, tech-savvy investor base.

By expanding its digital footprint, Intesa Sanpaolo positions Fideuram Direct as a leading platform for investors seeking modern, flexible, and technology-driven wealth management solutions in Europe.