Interview with Martí Alfonso, Director of the Banking Business Area in Andorra: “We are evolving with society in order to shape the future of banking”
Martí Alfonso has worked at Creand Crèdit Andorrà since 2012 and has led the bank’s Business Division in recent years. A direct witness to the profound transformation of the financial system, he has played a key role in milestones such as the merger with Vall Banc, the bank’s adaptation to the digital revolution, and the regulatory and fiscal changes affecting the sector. In this interview, we explore the past, present and future of an institution that has evolved while remaining true to its hallmark closeness to clients.
How has banking changed over the past 20 years?
The sector has undergone a profound transformation, largely driven by the emergence of a culture of immediacy. We have moved from branch-based operations to an online banking model in which clients can carry out many transactions on their mobile devices—and increasingly so. This allows us to devote more time to personalised service. At Creand, we have also reorganised our private banking division, introducing specialised structures by client segment, which enable us to operate more efficiently and deliver a more comprehensive service.
All of this has led to a shift in our client service model, bringing about a new concept of what a branch represents.
The use of AI also enables us to identify which clients may be interested in a particular product or service, and when, thereby enhancing both commercial efficiency and client satisfaction.
Beyond technology, another key milestone has been the sector’s successful adaptation to the legislative and fiscal changes it has had to implement. Today, the Andorran financial sector is fully aligned with the strictest international standards, making it a far more robust and transparent environment.
Clients have also changed. How have you adapted to these new demands?
Clients today are better informed and more discerning. They have a stronger knowledge base. In this respect, I would highlight the work we do at Creand in the field of financial education. We believe that a better-informed society is able to make more considered decisions.
From an investment perspective, there is a clear trend towards greater sophistication: clients are no longer interested solely in traditional products, and demand for alternative assets has grown significantly. Our response has been to specialise across our entire offering.
At the same time, we serve both domestic and international clients, with the competition that this entails. In this context, personalised service—offering the right solution at the right moment in each client’s life—is what truly sets us apart.
Has the digital transformation also required an evolution in your teams?
Absolutely. The professional profile has shifted from administrative processing towards advisory roles. Simple transactions are now digital, so the real value of relationship managers today lies in their ability to support clients and provide financial planning.
At Creand, our differentiating factor is the relationship manager–adviser pairing. It is not just about financial expertise, but about understanding taxation and global markets from a 360-degree perspective.
This is what sets us apart, and it has been recognised internationally. For example, last year, the Financial Times Group named us Best Private Bank in Andorra.
How do you see the sector in ten years’ time, and what role will your institution play?
I see the branch of the future as a hub for high-quality advisory services, where routine processes will be fully digital and physical spaces reserved for value-added interactions. We will also witness a democratisation of access to assets, where alternative and digital products coexist naturally with traditional ones, and where access to global markets becomes seamless.
Our role will be to consolidate this leadership in Andorra. Our growth will be driven by financial strength and by our ability to anticipate the needs of a constantly changing world. We are evolving with society in order to shape the future of banking.
Creand maintains a strong emotional connection with society, particularly through skiing and culture. What does this commitment represent for you?
For us, this is a strategic commitment. Creand is not only the leading private sponsor of skiing, but of the snow sector as a whole. We support all FAE teams and athletes, and we are also involved in the companies that operate ski resorts, as we see this as a key sector for the country’s economy. Creand is also actively involved in culture, sponsoring festivals such as ClàssicAnd and Ull Nu, among others. More broadly, we support society through initiatives in education, culture, music and knowledge via Creand Fundació. We are the only bank in the country with our own foundation, and we are very proud of that. As a bank, we believe we play a key role in driving the country’s economic development.
Orígens, Diari d’Andorra el 24.04.26