Operational foundations for scalable fund services: efficiency, resilience and service-oriented platforms
BNP Paribas SA, (Italian Branch) Securities Services Division, client from 2014 – The Securities Services business line of BNP Paribas is the largest Custodian in Europe, and ranked #5 globally, providing its clients with Securities Services solutions closely integrated with the best-in-class capabilities of the Group’s other business lines. These include treasury financing and advisory, and global markets solutions.
Empowering BNP Paribas Securities Services in Italy to elevate Client Service Experience and achieve Operational Excellence.
BNP Paribas Securities Services is a leading asset servicing provider in Italy, with a clear ambition: strengthen its role alongside the Italian asset management industry. In 2020, that ambition met a structural constraint. The divestment of critical operational services opened a gap in its ability to fully support asset managers leaving the organisation with a strategic dilemma.
BNP Paribas chose partnership. Together with Objectway as technology partner, the bank built a full BPaaS outsourcing model for the Italian asset management industry, covering depositary, fund administration and transfer agent services for both UCITS and alternative funds. The joint operating model combines standardisation and scale with the flexibility to support different service models and client needs, powered by a secure, compliant platform with API integration, artificial intelligence and continuous evolution at the core of its proposition.
On this foundation, the partnership now supports a large share of the Italian asset management industry. The platform runs around €120 billion in assets, administers more than 25 million retail investor accounts and supports 350 funds across five major Italian players through a single, coherent operating model. Building on this, BNP Paribas and Objectway are extending their collaboration into private markets with a dedicated fund accounting solution, positioning the partnership to support an industry that is moving toward more mature market structures, with technology, scalability, regulatory compliance and continuous innovation embedded into the operating model.
Business Benefits
Creation of a future-ready platform capable of evolving with market and regulatory changes
Operational resilience combined with technology flexibility
Broad coverage across the Italian asset management industry
Increased scalability, efficiency, and operational control
Strong foundation for long-term innovation and growth
As part of a global organisation, the big dilemma was whether to localise our global operating model into the local footprint or to identify a local provider that was scalable and had the right mindset to support our growth.
Andrea Cattaneo
Head of Italy, Switzerland & Iberia, Securities Services at BNP Paribas
Today clients need to increase their volumes and keep cost, risk and operations under control. And at the same time clients operate between two drivers: on one side, they look for standardisation and security; on the other side, they need customisation and operational agility. This is what we call the operational efficiency paradox.
Gianbattista Geroldi
CEO Italia, Objectway
Innovation Built to Scale: The OWIN26 Podcast
Scalability has become one of the most pressing challenges for the wealth and asset management industry. In an increasingly regulated and highly competitive environment, firms are expected to achieve sustainable growth while maintaining operational efficiency, security, and the ability to deliver personalized services.
These topics take center stage in this episode of the OWIN26 Podcast series. Paola Ragno, journalist at WeWealth, moderates the discussion between Giambattista Geroldi, CEO of Objectway Italy, and Andrea Cattaneo, Head of Italy, Switzerland and Iberia, Security Services at BNP Paribas.
Discover how scalability is becoming a strategic imperative for wealth and asset managers. Explore the full conversation to gain expert perspectives on technology, long-term partnerships, and the future of sustainable growth.
BNP Paribas is a multi-asset servicing specialist committed to help its clients achieve their ambitions both in terms of investments and cross-border distribution. The Securities Services division of BNP Paribas is one of largest Custodian in Europe, and ranked #5 globally, providing its clients with Securities Services solutions closely integrated with the best-in-class capabilities of the Group’s other business lines. These include treasury financing and advisory, and global markets solutions.
