e*finance consulting Reply is the Reply Group company specialised in Management Consulting Services for Financial Institutions.
We accompany our Customers in defining and achieving their strategic business policies through the application of the latest business and distribution models, the evolution of operational processes and tools and the design of new products and services. More and more often, this means embarking on a Digital Transformation journey that requires the ability to combine extensive industry expertise with full control of technological innovation and the capacity to apply these in a way that is relevant to the business.
Innovation is in our DNA and represents a distinctive value and an accelerator that we offer our Customers in order to improve their performance. We are a team of professionals with a diverse range of expertise, which encapsulates shared values: the passion for our work, creativity, dynamism and competence.


e*finance Consulting Reply works with leading players in the European banking sector.

We collaborate with all players competing in today’s market, because they are all facing the challenges of a digital transformation path:

- the more traditional banks for which branches still serve as the main distribution channel;
- the more innovative banks, which aim at a predominantly online acquisition and management of its customer base;
- new players, such as the Fintech sector, which are radically changing traditional products, processes and business models.


e*finance Consulting Reply supports leading players in the Wealth Management sector, in other words, companies whose main focus is the management of customer savings and investments.

We work with Network Banks, which support their Customers through a network of Financial Advisors, with Private Banks, focused on the management of significant assets and with Asset Managers, the so-called “factories” of financial products, focused on investment management.

As in other sectors, here too the digital transformation is, on the one hand, changing the traditional players, and on the other, favouring the entry of new players which leverage the latest technologies to innovate new service and distribution models.


e*finance Consulting Reply supports the leading players operating in the European Insurance market.

We work transversally with all types of players operating in the sector. This allows us to have a comprehensive view of the Industry, both from the point of view of the product offer lines (Non-Life and Life), as well as in terms of the distribution models (Agencies, Bancassurance, Promoters Networks, Direct Companies and Brokers).

In recent years the sector has been undergoing a profound transformation, like never before, requiring all players to rethink their business and operational models. The evolution of customer behaviour towards the “digital” sphere, the openness towards new products and services enabled by technology, the ability to have and process huge amounts of data, in addition to an ongoing evolution of the regulatory framework, represent risks and concrete opportunities for our Customers.

Wealth management


Wealth Management observatory | 2022

Net inflows in December, which doubled compared to November, led the Networks to the second best annual net inflows ever, amounting to EUR 44.9 billion. The fluctuating performance of the markets, however, was clearly reflected in the Networks' Asset Under Management figures (AUM 2022 stands at EUR 745 billion, -11% compared to end 2021 figure). All the details inside the e*finance Wealth Management Reply quantitative observatory.

Wealth Management observatory | 2022 0

09.11.2021 / IPA


The Rise of the Robots : A Look towards the Future of Asset Management, Asset Servicing and Wealth Management

e*finance consulting Reply is hosting an event on 9th November 2021 at Hôtel Le Royal (Luxembourg) to discuss the successes and failures of process automation in Asset Management (in particular, in Luxembourg ManCo’s), Asset Servicing and Wealth Management. Our panel will take an uncompromising look at the robots and share their insights regarding the do’s and the don’ts when seeking to optimise processes, including – among other options – with the introduction of Robotic and Intelligent Process Automation (RPA & IPA).


White Paper

Outsourcing: The Warning Bells Have Started To Ring

Over the last decade, financial institutions have become increasingly interested in outsourcing business activities in order to reduce costs, get access to new technologies and improve flexibility and efficiency. Find out more on outsourcing and third party risk management in our white paper, focusing on the EBA Guidelines and the pan-European regulation on outsourcing arrangements.

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Operational Resilience

White Paper

Operational Resilience: Joining the Dots in the Age of COVID-19

Operational Resilience was and will be, even more post COVID-19, a key business imperative for financial institutions which requires full attention from the Board and senior management. This Practical Guide provides a few handy tips that financial institutions may wish to consider.

Operational Resilience Joining the Dots in the Age of COVID-19 0

14.07.2021 / Paperjam

Press Article

What New Technologies can “really” do to support Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF)

Luxembourg has not stopped making progress in the fight against money laundering and terrorist financing, and has taken appropriate steps to increase transparency. New technologies have also evolved a lot to support this trend and we, at Reply Luxembourg, have developed methodologies combining AML/CTF and technological expertise to support financial institutions in stepping up.

25.06.2020 / English Language


UK Financial Institutions Dealing with Outsourcing and Third Party Providers

Our webinar was about Outsourcing and Third Party Risk Management for Financial Services featuring a key speaker from the Bank of England/PRA and a line-up of industry experts.



Operational Resilience in Financial Services: Joining the dots in the Age of COVID-19

Learn more about our webinar on Operational Resilience for Financial Services which featured a key speaker from the Bank of England and an exciting line-up of industry experts who shared their views on this topic.

Operational Resilience in Financial Services Joining the dots in the Age of COVID-19  0

11.06.2020 / Cloud

News & Communication

Cloud in financial services

Reply has embarked on a 'Cloud in Financial Services' initiative, through webinars, thought leadership piece and a flagship event to shed light on the benefits and challenges that underpin cloud adoption. Aimed at C-Suite and Board Members, it focuses on strategic considerations covering all aspects of Cloud adoption in Financial Services.

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From Operational Resilience
to Operational Excellence

At Reply, we support, guide and advise our clients in their Operational Resilience to Operational Excellence journey through our deep industry experience, leading strategic partnerships and proven framework.

Operational Resilience Interview

A Must-See For Anyone Implementing Operational Resilience Programmes In Financial Services

The goal of this discussion is to create a starting point and examine the objectives of implementing Operational Resilience programmes within financial institutions.

11.06.2020 / Cloud

News & Communication

Making the cloud work for you!

We design, develop, integrate and optimize Cloud infrastructure for financial institutions

Making the cloud work for you! 0


White Paper

Payment Services Directive 2 (PSD2)

On November 25, 2015 the European Parliament and the Council of the European Union issued the PSD2 (Revised Payment Services Directive). Reply partners with Banks to help them capitalise on the opportunities offered by the PSD2 and is able to offer several business opportunities that can be integrated as part of sustainable use cases.

Payment Services Directive 2 (PSD2) 0

12.05.2020 / Homeworking

News & Communication


Today, a worldwide virus forced homeworking in our lives. But at Reply we strongly believed in homeworking’s multiple benefits long before this virus changed our lives and habits. We analyzed numerous combinations, turned them into models, identified how to implement it smoothly and developed a strong methodology supported by a network of highly skilled experts to roll it out fast and efficiently.


28.05.2020 / Fintech Magazine


Technology Enablement across the Wealth Management Value Chain: The Mass Affluent Opportunity

Market conditions are forcing financial institutions to find new models for growth. One of the largest identified gaps for growth is the underserved and overlooked mass affluent segment.


Data Driven Enterprise


Intelligent Process Automation: the evolution of RPA

Intelligent Process Automation enables an organisation to optimise the productivity of its people, improve efficiency, and reduce the risks associated with business processes.

Intelligent Process Automation (IPA) is basically Robotic Process Automation (RPA) powered by “smart technologies”. IPA therefore makes it possible to progress from solutions focused on standard and repetitive tasks to new models based on a machine learning approach, allowing data robots to develop new skills, make judgements and provide feedback.

Humans remain the main actors in the organisation and become increasingly critical to the operation of the IPA solutions, being no longer burdened with repetitive tasks and able to leverage their time for the beenefit of value-added activities.

Data Driven Enterprise


Tackling an automation project

Automating a process or, even better, a business area in your organisation therefore goes way beyond a mere IT project. Find out all aspects you should be aware of!

Data Driven Enterprise


Reply's technologies and applications of IPA

Implementing intelligent process automation within an enterprise requires advanced technologies. To simplify the move towards intelligent robotisation, Reply has developed seven accelerators.

Roberto Tognoni



Two years ago the asset gathering and investment service industry seemed to be on the brink of a possible disruption by new digital players. But is it for real? Let’s just stop for a moment and look at where we are now.

Business Impact


Discover agility, be the change

Companies feel it’s time to move to new working paradigms, in order to achieve higher level of effectiveness in processes and results. But they are struggling in finding the right way, in terms of approach and scope of change. Here’s how to proceed.


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    Today, Financial Institutions are undergoing a process of major and sustained change, driven and necessitated by the evolution of customer behaviour, by technological innovations and by regulatory changes. The combined impact of these variables requires an extensive rethinking of current distribution and service models.

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    The boundary between the physical and the digital realms seems increasingly destined to disappear from all aspects of today's life. It is a fact for everyone involved, including the Financial Institutions. Taking on the challenge of this “new reality” requires multichannel strategies increasingly focused on customer engagement.

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    30 billion interconnected objects by 2020. This is the great opportunity that the Internet of Things (IoT) is transversally proposing to all Industries that have the ambition to offer products and services capable of “entering" into the everyday life of its Customers.

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    What do Amazon, Facebook, Google, Netflix or Spotify have in common? These are native-digital players that grew out of deeply innovative ideas which, having matured in the Cloud era and having developed a new generation of technologies, literally invented new scenarios for using digital services.

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    We actively monitor the main innovation-related hot topics in order to identify the specific aspects most relevant to Customers, looking to move quickly from the study of trends to the development and implementation of solutions in a factory logic. So-called Data Robotics, referring to the consolidation of robotics and Machine Learning techniques, facilitates the introduction and integration of automation into organisational processes.

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    The steady growth of the digital market has enabled a rapid spread of mobile devices around the world and in particular in Italy, where the market penetration of smartphones has now reached 83% (among the top three countries in the world). In parallel, we are witnessing the widespread use of increasingly more innovative payment instruments.



Model Design & Business Planning

Increasing our Customers’ performance means, first and foremost, starting from the core business in which they operate, with the awareness that challenging goals and an increasingly complex competitive environment require a growing capacity to define flexible business models and to be able to take full advantage of the opportunities offered by the latest innovation trends, also taking cues from markets that are often distant from the context in which the companies involved traditionally operate. A winning business model always puts the focus on the Customer: for us, identifying their needs and interpreting them in an original way compared to the competition represents the starting point for the development of truly value-added products and services. A Customer-centric vision requires the support of an operational machine and of a proper distribution model: it is unlikely for innovative products and services to work together with structures that think in “old terms” when it comes to organisation, processes and tools.

Analysis & Solutions Shaping

Our ambition has always been not to merely stop at the design, but to arrive at defining working solutions (organisational and technological) capable of affecting the daily lives of Customers and Users. We approach the design of solutions using a rigorous methodology that starts from a thorough study of the core market and from innovation insights gained in other contexts: the goal is to identify incentives to be intersected with our Customers’ ambitions in order to arrive at a design of the target solution. Knowing where to arrive is not enough: the starting point – in other words the characteristics of our Customers – must be clear; moreover, it is necessary to have the ability to build an evolution process that is the result of rigorous analysis activities aimed at defining the process-related, organisational and functional aspects of the solutions.

Project Governance

The governance of a large project is a complex challenge. Making things happen at the right time, coordinating the action of different players in terms of their profile and origin, is almost an art, which in e*finance Consulting Reply we have mastered quite well. Managing a project implies precision and methodology as there are many variables involved, subject to constant change. The goal is to respect the starting mandate and to stay within the right timeframes and the budget defined. All this while managing risks and addressing problems, handling the communication in a balanced way at all company levels. To achieve the objectives set, always.

Enterprise Architecture

A business solution must pass from the definition of an IT architecture (Solution Architecture) that is able to bring together and integrate the services provided by existing applications with the new technologies considered. Using best practices adopted by the market, capabilities maps and a methodology derived from the experience gained over many years of activity in the Financial Institutions sector, we support our Customers in activities relating to:

  • IT assessment, for the definition of templates and scenarios of transformation of the IT landscape and of the related cost-benefit analysis;
  • IT design of architectural solutions with make vs. buy analysis and management of the software selection process;
  • scouting of software products, creation of Proof-of-Concepts (PoC) and use cases for determining the applicability of the product; design authority activities, with the aim of validating the work of the system integrator in terms of compliance with the overall architectural design and the defined requirements.


We are always looking for professionals who can help develop new ideas and promote different points of view.

We provide top graduates with the right tools to foster their professional growth. We place a strong focus on teamwork and results orientation, combined with strong specialist skills.

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We are always looking for professionals who have gained relevant experience in the consulting and Financial Services realms, with a strong aptitude for innovation in business solutions and business strategies.

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Nova South, 160 Victoria Street, Westminster, London SW1E 5LB, UK
Tel: +44 (0)20 7730 6000


Via Castellanza, 11 - 20151 Milan, Italy
Tel: +39 02 535761
Fax: +39 02 53576444


Via del Giorgione, 59 - 00147 Rome, Italy
Tel: +39 06 844341
Fax: +39 06 84434599


Rue du Congrès, 5 - 1000 Brussels, Belgium
Tel: +32 (0)2 880 03 20


21-25 Allée Scheffer, L-2520 Luxembourg, Luxembourg
Tel: +352 286 843 1