Leonteq has agreed a deal with a second major Swiss bank this week. The structured products expert will help the regional bank evolve along its digital transformation strategy.
Basler Kantonalbank (BKB) and Leonteq will cooperate in the production and distribution of structured products, according to a statement released by the Zurich-based fintech on Thursday. It is the second such deal that Leonteq communicated this week after its agreement with Postfinance on Monday.
Under the terms of the contract, BKB will issue structured investment products and Leonteq will provide services along the value chain. It will also offer the products to its clients in Switzerland.
First Product Out on Monday
The offering of BKB products will be gradually expanded on Leonteq’s multi-issuer platform by the end of 2020. The first product will become available for subscription on Monday.
«The digital transformation of our business model is a cornerstone of our Strategy 2018 to 2021,» said Luca Pertoldi, deputy CEO and head of distribution commercial clients at BKB, in the statement. «With its state-of-the-art tools and innovative solutions, Leonteq will help us to achieve our ambitious goals and expand our structured product capabilities.»
Period of High Uncertainty
Leonteq earlier in April pulled its forecast for the full year because of the uncertainty that arose following the lockdown of large parts of the global economy due to the coronavirus. The volatility on capital markets affected all asset classes underlying structured products, which are the speciality of Leonteq.
