AXA IM and Dreams enter into a European partnership, empowering millennials to save and invest towards their goals
AXA Investment Managers (AXA IM) and Stockholm-based Fintech company, Dreams, have entered into a strategic partnership to offer millennials an innovative range of investment services through the Dreams mobile platform.
The AXA IM-Dreams partnership is built on a shared focus to drive innovation to serve a new generation of savers and investors, based on their specific needs in the digital environment.
Through this innovative partnership in Europe, AXA IM will be the exclusive provider of mutual funds catering to millennials on the Dreams mobile platform. Launching across continental Europe, the services will eventually be introduced on the German, Belgian, French, Italian, Dutch, and Spanish markets.
This partnership will include an innovation lab designed to conduct research on millennials’ savings and investment habits, with the aim of having more information on their investment needs to ultimately help them make better investment decisions.
Targeting retail clients and millennials in particular, Dreams offers savings and investment services. By leveraging cutting-edge technology, artificial intelligence, and cognitive-based finance; individuals are encouraged to save and invest money on their own terms. Incentives pertinent to each individual and based on personal goals help users to achieve their dreams.
“We are delighted to partner with Dreams, as this partnership is a key milestone in our digital strategy to open up new digital distribution channels, starting with one targeting millennials – who are already today’s investors. We want to make investment easier for our clients and our recent Voices survey has shown how young people require more financial knowledge. We believe that the Dreams app is helping them to better understand the value of saving and investing to achieve their goals and prepare a better tomorrow for themselves, through an innovative and easy client experience. We are looking forward to working with Dreams to combine our strengths and digital capabilities, and to innovate and learn from them to better serve our clients.” said Joseph Pinto, Global Chief Operating Officer of AXA IM.
“Our unique Dreams method has proven its worth in the Nordic markets, where we boast 300,000 users or the equivalent of 14% of the total 20-40 year-old target group in Sweden. We have achieved these figures in under two years, and proudly count women as 69% of our users. Research shows that people save €135 more with us every month than they did with their banks, proof that a customer-centric, behaviour-based approach to savings works. As we expand into the European market, we are proud to call AXA IM our partner. Their extensive knowledge, experience and expertise, and rich product portfolio makes them the perfect match for our offering. These are exciting times for Dreams, and we are thrilled to offer Europeans a platform to become as successful at saving as Scandinavian Dreamers are today.” stated Henrik Rosvall, CEO of Dreams.
To further support the development of Dreams, AXA IM is taking a 10% stake in Dreams’ capital, while Joseph Pinto joins the Dreams’ Board of Directors.
Note to editor