Spanish private banking sector embraces AI and digital tools

The first Private Banking and Wealth Management Forum was held at the end of May, organized by Activos, Prensa Ibérica and El Periódico, with sponsors including Andbank, BDkapital, Banco Mediolanum, Crescenta, Renta 4 and Tressis SV‑Grupo MoraBanc. Participants examined how the industry must balance sophisticated technology with the irreplaceable value of human trust.

Speakers highlighted that today’s private‑banking client is far more sophisticated and demands a hybrid relationship: personal advice supported by cutting‑edge digital tools. They noted that artificial intelligence can automate routine administrative tasks, allowing advisors to focus on emotional and strategic guidance. The discussion also covered tokenisation of real‑world assets via blockchain, which could democratise investment opportunities, and the upcoming MICA licence that will let banks offer direct custody of cryptocurrencies such as Bitcoin and Ethereum.

Overall, the conference underlined that digitalisation and AI are viewed as efficiency enhancers rather than replacements for advisors, and that generational change, regulatory developments and innovative asset classes are reshaping the Spanish private‑banking landscape.