• Paolo Sironi @thepsironi

    Author of books

    IBM Industry Academy member

    International keynote speaker

    Link between FINance and TECHnology, forging strategic banking innovation with insights, vision and constructive criticism nurtured by hundreds of yearly meetings with industry leaders and FinTech entrepreneurs on a global scale.


    Thought Leader at IBM Watson Financial Services, formerly Risk Manager and FinTech entrepreneur.

  • My Books

    Preview and Amazon links (paper, ebooks).


    Robo-Advisors, Goal Based Investing, Gamification

    Personalise personal finance!

    Innovation in financial technology has only begun to disrupt the wealth management industry, and is leading to a tectonic shift whereby investors and tech-savvy financial advisors can become the new price-makers in the global democratisation of banking. FinTech Innovation delves deeply beyond simply describing the disruption examining, in detail, the underlying processes to illuminate exactly what is happening and why its happening so that you can engage with and thrive in the new marketplace. Through a behind-the-scenes look at Robo-Advisors and their part in the turnkey, low-cost personalisation of Goal Based Investing, this cutting-edge guide opens a tangible path for using technology to gain a competitive advantage, establish your value as a human advisor and "rewire" investors' minds to positively engage with investing. This authoritative guide pulls back the curtain to reveal:

    • What Robo-Advisors are today and how they will evolve.
    • How human financial advisors can optimise their businesses in response to regulations, customer demand and technology.
    • What gamification has to do with investing, and why it can produce better investors.
    • Where you need to rethink what you know about investing and let technology do the work.

    Which is the product or solution that justify the fees?

    A new business model for regulatory transparenxy

    In the face of new regulatory changes and the rise of Fintech the industry is on the verge of a sea change in financial advice. The onus is now firmly on financial institutions to not only adapt to the #transformation but to stay relevant and #profitable at a time of unprecedented change.


    "Value-Generation for Investors" provides a #roadmap for the reader: we lay out a model which places the goals and preferences of #investors (on-boarding) at the centre of the value-generation mechanism, enriching the creation of financial #products which create charges and costs (in-boarding).


    The analysis of #MiFIDII regulation only serves as a canvas to showcase how international best practices, grounded in goal-based investing and probabilistic scenarios, create a new compliant framework to evade the pitfalls of progressively commoditised investment solutions, and avoid disruption to their business by harnessing the "human element" and achieve sustained innovation with digital.


    Maximise the probability of reaching your goals

    Heart and soul of Goal Based Investing!

    What truly matters to long-term investors is the probability to achieve their PERSONAL FINANCIAL GOALS through their life cycle (targets of total return or retirement income). PSO provides the principles and quantitative framework to feature the probability of achieving multi-period financial goals as the objective function, within a scenario-based and risk-constrained optimisation exercise. The adoption of Goal Based Investing principles leads to a change in perspective from MPT (Markowitz and Black-Litterman), based on the author's research and experience in Risk and Wealth Management.


    FinTech Innovation

    Chinese edition

    智能投顾(Robo-advisor)和金融科技创新(FinTech)最近成了全球热点。市场的力量正在改变银行和融资顾问原有的商业模式,向由机器人技术驱动的商业模式转化。理财经理正站在数字化浪潮的震荡中, 几百年来根深蒂固的行业格局逐渐从方方面面开始发生改变。
    本书揭示了促成创新思维的各种力量, 密切审视了财富管理行业发生的革命, 尤其是数字化咨询、 个性化投资和能够洞察客户行为的认知分析方法。本书的目标是改善金融顾问和客户之间的投资体验, 让他们得以用更为直观的、 目标导向的投资话语进行交流 。不管是金融科技公司还是从事数字化的机构, 谁能利用智能投顾进行目标导向的投资, 谁就最有希望超越对手。
    个人投资者、 金融顾问、 投资组合经理、 技术和数字化经理、 银行业高管和金融科技企业家都可以从这本书中得到对财富管理行业转型的深刻见解, 从而理解新技术和定量金融之间的联系, 并适应更加严格的市场监管和更高的信用标准。


    Co-author FinTech Book

    A front-line industry insider's look at the financial technology explosion!

    The FINTECH Book is your primary guide to the financial technology revolution, and the disruption, innovation and opportunity therein. Written by prominent thought leaders in the global fintech investment space, this book aggregates diverse industry expertise into a single informative volume to provide entrepreneurs, bankers and investors with the answers they need to capitalize on this lucrative market. The financial technology sector is booming, and entrepreneurs, bankers, consultants, investors and asset managers are scrambling for more information: Who are the key players? What's driving the explosive growth? What are the risks? This book collates insights, knowledge and guidance from industry experts to provide the answers to these questions and more.


    Italian Edition - Feb. 2017

    Avoid financial advice commoditisation!

    The evolution of the regulatory framework (MiFID2 e PRIIPS) and FinTech innovation (Robo-Advisors) triggered a process of transformation of Financial Advice 2.0. The traditional approach based on products distribution and selling of “potential performances” (forecasts), is getting replaced by a new advisory norm based on regulatory requirements which take from the analysis of investors' goals (advisory Gamma) and the search for yield via rebalancing and switches (advisory Alpha time). MiFID2 introduces structural changes in financial advice DNA, requiring full transparency on costs and benefits with regard to investors' risk profiles. At the same time, PRIIPS introduces probabilistic scenarios based on agnostic and neutral techniques while risk-free rates are null or negative. Financial Advice 2.0 consolidates all these regulatory requirements in a singe business model which adds value to final clients, hence justifies the profitability of intermediaries and manufacturers, and features two distinct yet circular phases First, goal-based ON-BOARDING transforms profiling form an admin task into an engine of added value through the knowledge of clients and their wealth. Second, the IN-BOARDING of the investment solution maximises the probability of achieving investment goals within the Suitability Framework, granting an upgraded space to foster a balanced analysis of financial markets, modern techniques of portfolio construction and investment “timing”. Probabilistic scenarios are not just confined to products regulation (KID) but add value through portfolio simulations.


    The alternative to Financial Advice Transformation is commoditisation.


    Selection of recent interviews

    Come il Fintech cambia la finanza

    Interview by LeFonti TV

    Modello di business, tecnologia e regolamentazione sono i tre motori dell'innovazione Fintech.

    How FinTech reshapes Retirement

    Preparation for Retirement Symposium at Wharton

    How innovation in Technology, Finance and Regulation will reshape retirement to help families and augment the work of intermediaries.

    Italian Parliament

    Parliamentary Hearing on Fintech - Commissione Ministero delle Finanze

    Italian Parliament hearing 🇮🇹 in Rome, discussing Fintech Innovation and long term strategies to transform the business model of a banking industry: Blockchain, Bitcoin, Robo-Advisors, Artificial Intelligence, MIFID2, Financial Education, Gamification

    FinTech Finance TV

    Interview at M2020

    Key takeaways from last few years of FiNTech Innovation and what changes can we predict for the next few years of the industry:

    - more Augmented Intelligence, - more Blockchain,

    - more InsurTech w/ connected insurance and wearables.

    Class CNBC - FinTech Innovation

    Book presentation and panel discussion

    Sharing content of Fintech Innovation during CNBC program dedicated to FinTech, with insights on Italian ecosystem.

    🇮🇹 language

    FinTech lessons learned

    IBM at M2020 Europe

    The 3 lessons learned for successful FinTech Innovation:

    - Sustaining innovation is more important than disruptive innovation.

    - Digital is PULL technology, investing is PUSH economy.

    - Bundling banking services is more important than unbundling.

    Investment Management in Transparency age

    Interview by The Trading Show

    It's more important to optimise investors' decisions, attempting to achieve personal goals, than investment portfolios themselves. The principles are explained in this 3 min. video which discusses the history of modern finance from: a period of Symmetry (Markowitz), through Asymmetry (Black-Litterman), to Transparency (Goal Based Investing).

    Knowledge Digitisation

    Keynote IES 2017 Hong Kong

    Banks are transforming from transactional businesses to service oriented organisations. This r-evolution of business models and revenues requires #FinTech innovation based on Knowledge Digitization (Cognitive Augmented Intelligence) to face disruption successfully and achieve sustaining growth.

    Hong Kong TVB Pearl - Money Magazine

    Interview on FinTech Inovation

    Presentation of bestseller FinTech Innovation, discussing Artificial Intelligence, the role of Robo-Advisors and the future of HK innovation hub.

    Regulation, Innovation and Reliability

    IBM Thought Leadership - #1

    Regulation and FinTech innovation are transforming banks from "distribution channels of products" into the "digital packaging of advice". IBM Thought Leader Paolo Sironi discusses how FinTech, Banks and IBM can work together to transform banks' business models intelligently.

    Robo-Advisors and Digital Wealth Managers

    IBM Thought Leadership - #2

    Robo-Advisors are transforming personal finance and forcing wealth managers to rethink the role of financial advisors. IBM Thought Leader Paolo Sironi discusses how FinTech innovation can augment advisors and final investors with cognitive gamification, and help them to make better investment decisions in a digital world.

    Creating a Model fo Customer Centricity

    IBM Thought Leadership - #3

    Personalization of financial services is a mantra in today's digital economy. IBM Thought Leader Paolo Sironi discusses how FinTech innovation can help wealth managers unlock client insights with cognitive analytics, and achieve true investment personalization with goal-based investing.

    FinTech Innovation: from Robo-Advisors to GBI and Gamification

    90" Book presentation

    Q&A: Can you tell us about your book? What is the link between Robo-Advisors, Goal Based Investing and Gamification? Who is reading your book?

    60" FinTech in Asia

    60" FinTech talks @thepsironi

    Takeaways from Finnovasia (Hong Kong) and World FinTech Forum (Seoul)

    60" Robo-Advisors Europe

    60" FinTech talks @thepsironi

    Takeaways from Robo-Investing Conference Europe @ Level39

    60" Wall Street and Silicon Valley

    60" FinTech talks @thepsironi

    Wall Street and Silicon Valley's conversations.

    My Robo-Advisor was an iPod.

    My chapter in The FinTech Book

    Animated cartoon about my contribution to The FinTech Book: Robo-Advisors are disruptive innovation, Goal Based Investing is sustaining innovation.

    Intelligent HQ

    Interview by Dinis Guarda

    My Thought Leadership in Wealth Management, Risk Management, Investment Analytics.

    Goal-based model portfolios with probabilistic scenarios

    PSO without formulae.

    Animated cartoon explaining how to create goal-based optimal portfolios with PSO.

    Guest Speaker at BrakingBank$ radio show

    Interview by Brett King

    My iPod is a Robo-Advisor! (min. 23' - 42')

    Goal Based Investing

    Interview by Risk.net

    Why GBI is the new way forward in wealth management.

    Probabilistic Scenario Optimisation

    Interview by Risk.net

    PSO is the quantitative heart and soul of Goal Based Investing.


    Visit my LinkedIn profile for more.


    Tweet @thepsironi

  • Experience, dedication, passion

    Entrepreneurial thought leadership

    IBM Industry Academy

    IBM Watson Financial Services

    Paolo is elective member of IBM Industry Academy and recognised bestselling author of Financial Technology, Investment and Risk Management. He advises clients with strategic insights on digital transformation and innovative business models by linking investment practices (FIN), financial technology (TECH), banking and insurance regulations (REG). He formerly held senior positions in risk management and investment banking, he owns a track record as Fintech startup entrepreneur.

    Managing Director

    FinTech Founder

    Oct 2008 - Oct 2012


    Founder and Managing Director to grow a nascent joint venture (Sal. Oppenheim Bankhaus / Algorithmics) into an international business addressing portfolio and investment analytics.

    Director - Risk Management

    Advanced quantitative methods

    Feb 1997 - Oct 2008


    Head of Market Risk and Counterparty Risk modelling. Approved first internal model (Basel I) for capital adequacy. Reporting to regulators, top management and trading floors.
    (Banca Intesa Sanpaolo, previously Banca Commerciale Italiana)

    Research Assistant

    (Prof. Zimmermann)

    Jun 1996 - Feb 1997


    Statistical analysis.

    Research Assistant

    (Prof. Zimmermann)

    Jun 1996 - Feb 1997


    Statistical analysis.

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