Following the lead of mortgage brokers, who pressure brokers by offering credit files directly to banks, a new wave of brokers from a traditional profession, financial product brokerage, is now attacking deposit management. One of them, Pandat Finance, hitherto ultra-digitized and Parisian, has just opened a boutique in Bordeaux, in the premises of the Hôtel Fenwick.
These brokers are not only interested in the term deposit market, but also in that of structured products, investment properties, capitalization contracts, etc. The mechanism is schematically the same as for real estate brokers, except that in this case it involves price reductions in the deposit management market. This means putting pressure on asset managers, family offices… but also (and above all?) the internal teams of banks specialized in this type of activity.
90% of customers are companies
Financial product intermediation is not really new, but seems to be experiencing a revival in activity, in a market that has also recovered from digitization, hit by the Covid-19 crisis and then the recovery shock, with its large inflationary brushfire . But since last year, the worst, that is never certain, has climbed several steps on the probability scale, at the risk of turning the inflationary fire into a very terrible global blaze, following Russia’s military aggression against Ukraine. A tense context in which the fight against the high cost of living spares no one, not even investors. And of course Pandat Finance’s services are free for the customer.
“We work on short, medium and long-term investments and cash management. We only provide support to the customer, there is no sales of products. The idea is to become an intermediary between the bank and the customer. that we only work for legal entities. For example, 90% of our customers are small and medium-sized enterprises and medium-sized enterprises. The rest of this group is made up of associations, mixed economy or even social landlords,” explains David Guyot. , founder and director of Pandat Finance.
Occupying the country, an elusive rule
But why settle in Bordeaux at a time when the cybernetic world is vampirizing almost the entire physical world?
“Until 2008 I was a trader in a trading space of a major bank, I know the digital work. It is very interesting, but it is not enough for what we do. say a profession of trust that requires us to be present, in contact with the local environment And since there are codes that change from one city to another, we begin to engage in the territory After Lyon we are here in Bordeaux, a beautiful dynamic city that is developing at full speed and with which we the whole southwest!And let’s not forget that we are only two hours away from Paris by TGV…”, David Guyot eagerly analyzes. †
Funds raised by startups are also on the program
Pandat Finance was founded in 2009 after the financial crisis of 2008 and now has 40 employees, “but soon 45” nationally, adds the founder. The office opened in Bordeaux, managed by Arnaud Picard, employs six people and will allow the brokerage to organize its life in the port of the moon, but also to start prospecting in New Aquitaine and Occitanie, in Toulouse as well as in Biarritz or La Rochelle. Pandat Finance is interested in the world of startups and thus in French Tech as well as in more traditional and profitable companies. Because if startups by definition burn a lot of money, they sometimes also raise very large funds, which must then be invested with discernment…
“Our service is free. We never complete an operation, it is of course always the bank that takes care of it, who is the end customer and who pays us for our service. The next city where we open is Nantes, then probably Lille”, frames the boss of Pandat Finance.
The Parisian company immediately claims more than 1,000 active customer accounts and boasts that it recently hired two new employees, investment bankers from Banque Palatine. If the panda has become the emblem of Chinese nationalism, Pandat Finance’s will be written with a t, for “term deposit” (DAT).