Chronicle.lu recently had the opportunity to speak with Paolo Maceratesi, CEO of Armundia Luxembourg, to learn more about this Luxembourg-based fintech startup and subsidiary of Armundia Group, an Italy-based company developing software solutions for the international insurance and banking sector.
This article forms part of a series of interviews with "newcomers" hosted at the Luxembourg House of Financial Technology (LHoFT), i.e. startups having joined the LHoFT since 1 January 2022. Armundia Luxembourg has been present at the LHoFT since May 2023.
Chronicle.lu: Please introduce your company and the products/services it offers.
Paolo Maceratesi: Armundia Luxembourg is a startup founded by Armundia Group, an international fintech company present in Luxembourg for over ten years, specialising in platforms and cutting-edge technological services for sustainable innovation and modernisation of the banking, finance and insurance sector. In the last period, it has focused on its international expansion and on the launch of the Armundia 3SIXTY platform. This is the new line of solutions for asset management, wealth management, private banking and bancassurance that allows banks and financial institutions to evolve and support high added value consultancy services and diversified and personalised investment solutions. Armundia 3SIXTY is a unique and complete framework, modular and integrating with the main existing core banking systems, capable of adapting horizontally to all types of banking and financial institutions and vertically to every service model, rationalising processes and resources. The group also offers innovative and specialised business process outsourcing services, with highly qualified and competent teams.
Chronicle.lu: What led to the creation of your company?
Paolo Maceratesi: We believe that the Luxembourg market is particularly evolved and mature to welcome new models of technological and digital development. We therefore shared the objective of bringing a new vision and a new approach to the Luxembourg territory, based on the sustainability and feasibility of the evolution and modernisation processes of the banking, financial and insurance sector. Internationalisation and constant innovation have characterised the companies of the Armundia Group for years, present in Europe with four subsidiaries, seven offices and over 200 professionals. Without a doubt, the opening of a subsidiary in Luxembourg strengthens the group's positioning strategies on a global scale: it allows us to actively participate in the ongoing development processes and to lead important digital transformation projects in the reference markets at an international level.
Chronicle.lu: What brought your company to Luxembourg?
Paolo Maceratesi: Two factors pushed us to found Armundia Luxembourg. On the one hand, in-depth knowledge of the territory, local banking systems and infrastructures. Armundia Group has had a consolidated presence in Luxembourg for over a decade with tailor-made solutions and projects for the innovation of asset and wealth management processes and has gained significant references in the banking sector. On the other hand, some geo-economic considerations had an influence. The Grand Duchy of Luxembourg is today the main European centre for investment funds, the focal point for asset management in the euro area and a major player in the insurance and reinsurance sector. These factors contribute to making Luxembourg a vibrant and very attractive ecosystem of young talents, new ideas and entrepreneurial initiatives.
Chronicle.lu: What makes your company and its offer unique?
Paolo Maceratesi: We believe that the combination of competence, medium-long term vision and customisation of the solutions offered are our main strengths. We are convinced that strategic and specialist know-how is essential to accompany banks in their evolution, innovation and modernisation processes. This ensures that our customers receive the highest level of service and trust us as highly qualified professionals. We develop flexible solutions, capable of evolving as the conditions of the reference scenario change, working closely with our customers to ensure the constant alignment of our strategies with their objectives and market dynamics. Another factor of competitiveness is the customisation of the solutions offered, according to different needs, strategies, processes, workflows and service models.
Chronicle.lu: What is next for your company?
Paolo Maceratesi: Armundia's offer and product strategies have never been based on a domestic vision of operational processes but always on a global approach and we focus on the declination of the offer in foreign market scenarios, on the greater capacity for segmentation and distribution of the target final - from the "traditional" customer to the next gen - as well as on scalable and modular architectures. The objective will be to bring a new vision of the digital transformation and innovation process to the international banking and insurance sector, to always be understood as added value for the increase in competitiveness and distinctiveness of services towards customers. The company also aims to strengthen the convergence between the banking and insurance sectors through a highly innovative service model in the area of bancassurance even in conservative but potentially fertile geographical areas.