Mediobanca: "One Brand – One Culture" — A Strategy Worth the Attention of Uzbek Banks

Mediobanca: "One Brand – One Culture" — A Strategy Worth the Attention of Uzbek Banks

In the era of digital competition and growing customer expectations, leading international banks are setting the tone with large-scale transformation strategies. One such case is the 2023–2026 strategic plan of Mediobanca, titled "One Brand – One Culture", where each step is aimed not just at becoming digital, but at becoming a platform-based leader in wealth management and investment banking.

Let’s examine the essence of this plan and the practical lessons Uzbek banks can draw from it — including what actions to take today, and how to select the right IT partners and platforms.

What is "One Brand – One Culture"?

Mediobanca’s plan is not just a development strategy — it's a systematic approach to relaunching the bank as a tech-driven, high-margin ecosystem for affluent clients (HNWI and UHNWI). Its foundation: a unified brand, a unified culture, and a unified technology platform.

Strategic Goals by 2026:

• Make Mediobanca the leader in wealth management in Italy;
• Increase total financial assets (TFA) under management to €115 billion (+11% annually);
• Boost revenue to €3.8 billion (+6%);
• Raise earnings per share to €1.80 (+15%);
• Reach a return on tangible equity (ROTE) of 15%;
• Return €3.7 billion to shareholders (45% of current market cap);
• Achieve carbon neutrality by 2050 and implement ESG initiatives starting from 2023.

How is this being done?

Digital & AI at the Core

• €230 million investment in innovation by 2026 (+25% vs previous period);
• Partnership with Microsoft Italy to implement Copilot, Generative AI, Azure Cloud;
• AI Assistants for:
  • Sales support in Wealth Management and Consumer Finance;
  • Automating admin tasks and accounting document analysis;
• 15% increase in tech-savvy IT staff.

Branding & Premium Client Focus

• Rebranding CheBanca! to Mediobanca Premier;
• Expanding the sales team by 25% to 1,500 professionals;
• Focus on serving HNWI/UHNWI clients.

ESG Priorities

• Integrating ESG metrics into top management compensation;
• Over €20 million allocated for social impact projects;
• Joining the Net-Zero Banking Alliance.

What Does This Mean for Uzbekistan?

Banks in Uzbekistan are also at a crossroads: either continue to modernize outdated processes incrementally or transition to a platform-based transformation focused on the client, data, and speed of implementation.

Practical Steps for Uzbek Banks

Based on Mediobanca's strategy, Uzbek banks can chart their own course for digital transformation. Below is a clear, realistic action plan:

1. Explore Modern Platforms and Solutions

Recommendation:

• Conduct an IT architecture audit of the bank to identify weaknesses, dependent systems, and outdated solutions.
• Explore the capabilities of platforms like Microsoft Cloud, Salesforce Financial Services Cloud, Oracle Banking Cloud, Temenos, Finastra, etc.
• Invite vendors for demo sessions to compare functionalities and implementation prospects.

2. Identify Priority Areas for Digitalization

Focus:

• Front Office: Implementation of AI assistants for sales, chatbots, omnichannel platforms.
• Back Office: Automation of reporting, document management, accounting using AI.
• Risk & Compliance: Building predictive models based on data (AI/ML).
• Data & Analytics: Implementation of BI platforms for monitoring indicators and client analytics.

3. Develop the Bank's Digital Platform

Practical Steps:

• Build a unified digital platform that integrates channels (mobile, web, contact center), products (retail, SME, private), data, and processes.
• Use an API-first approach: the bank should be ready for integration with fintechs, regulators, partners.
• Implement low-code/no-code platforms for quick adaptation and creation of new services.

4. Start with Pilots and MVPs

Recommendations:

• Select 1–2 priority cases (e.g., sales assistant, application automation).
• Conduct testing on a small segment (10–15 employees, a limited number of clients).
• Evaluate effectiveness (time, accuracy, client satisfaction), then scale.

5. Strengthen Partnerships and Innovation Culture

Advice:

• Sign memorandums with major technology vendors (Microsoft, Google, IBM, Amazon).
• Launch internal acceleration or sandbox programs to give IT and business teams the opportunity to test innovations.
• Build a culture of "technological leadership": the CTO/Chief Digital Officer should participate in the bank's strategic council.

Conclusion

Mediobanca serves as an example of how to transform a traditional bank into a technological and client-oriented wealth management platform. Uzbek banks, by following this example, can take leading positions in the region if they start acting now: strategically, consistently, and boldly.

The key to success is not just the implementation of technologies but the creation of a digital culture and a platform-based business model.