The Würms family, with deep-rooted expertise in European and Latin American private banking and multi-family office management, founded Bourgeois Bohème (BOBO) in 2018. They partnered with Gregor Anton Piëch, whose family legacy in the automotive industry instilled a relentless pursuit of innovation. Together, they assembled a team of finance and technology leaders, including CEO Hugo Gomez, CBDO Katherine Maslova, and Board Member Simon Isaev.
Recognising the limitations of traditional private banking, their vision was clear: to create a bespoke financial ecosystem tailored to the unique challenges of (U)HNWIs and family offices.
Pain points for family office payments
Family offices often face several pain points with traditional payment services, including:
Slow transaction processing: Traditional banks often have slow processing times for high-value transactions. This causes delays that impact the efficiency of financial operations.
Lack of personalisation: Generic banking solutions fail to meet the specific, nuanced needs of family offices, particularly around spending controls and personalised financial oversight.
Limited secondary account flexibility: Many payment services restrict secondary accounts to just immediate family members, which doesn’t accommodate the diverse needs of family offices, such as staff, extended family, and others who need access.
Inefficient expense tracking and reconciliation: Manual tracking and reconciling household and staff expenses across multiple entities can be time-consuming and prone to errors.
Cross-border payment challenges: International payments often involve high fees, slow processing times, and compliance complexities, making it difficult for family offices with global operations to manage funds efficiently.
Security concerns: Traditional financial systems may lack the robust security features that high-net-worth families require, especially for large transactions and sensitive financial data.
Limited integration with lifestyle services: Traditional payment services do not integrate with luxury lifestyle needs, such as wearable payment options or bespoke services tailored to high-net-worth individuals.
Payment solutions for family offices
BOBO provides (U)HNW families with fast, flexible, and personalised solutions that meet their ever-changing needs. It offers the speed and adaptability that traditional banks lack and the tailored service that fintech startups can’t provide.
Solving family office industry challenges
- Instant high-value payments – Unlike traditional banks, which impose lengthy approval processes, BOBO enables seamless transactions up to €1,000,000 with cross-border capabilities that exceed standard banking limitations.
- Household & staff financial management – Unlike fintech platforms that restrict secondary accounts to spouses and children, BOBO allows multiple family members and staff to have controlled access, with real-time tracking and customisable spending limits based on amount, geography, time, or specific merchants.
- Bespoke membership model – With tiered membership levels—Debutant, Star, and Legend—clients receive tailored services and lifestyle benefits that scale with their needs.
Industry-first innovations
- Next-level financial control – BOBO is the first platform to offer a digital back office for managing household and staff expenses, ensuring transparency and efficiency.
- Speed & agility – Eliminates transaction delays common in high-value payments, setting a new benchmark for efficiency.
- Wearable payment integration – Embedding payment chips into luxury accessories like rings and bracelets offers unparalleled convenience and security.
Case Study: David’s Estate Management Dilemma
David, a real estate tycoon with properties across four countries, struggled to manage the complex financial operations of his estate. His household staff, including chefs, security teams, personal assistants, and a yacht crew based in Valletta, required frequent payments and expense tracking. Each month, reconciling transactions from multiple accounts, currencies, and staff requests consumed valuable time for both David and his chief of staff.
BOBO provided an all-in-one solution that transformed David’s financial operations, eliminating inefficiencies and manual tracking. Below is how they solved David’s challenges:
1. Automating payment oversight
Instead of manually tracking payments for property maintenance and operational expenses, David integrated all financial activities into BOBO’s platform. The system automatically categorised and logged transactions, reducing errors and administrative workload.
2. Consolidating household & staff expenses
BOBO’s platform provided a centralised dashboard where David could oversee all expenses in real-time. Instead of juggling multiple bank accounts, he could set up secondary accounts for family members and key staff. He could also customise spending limits and merchant restrictions. This ensured better control over household budgets while maintaining flexibility for different staff needs.
3. Streamlining multi-currency payments
With real estate holdings and staff in different countries, currency conversion fees and delays were a constant issue. BoBo’s instant high-value transactions and cross-border payment capabilities allowed seamless transfers across jurisdictions, eliminating unnecessary banking delays and excessive fees.
4. Leveraging smart analytics for financial planning
BOBO’s advanced analytics and reporting tools gave David a comprehensive breakdown of his estate’s financial flows. He could track spending trends, anticipate seasonal expenses, and optimise cash flow, allowing for better long-term financial planning.
The result
By switching to BOBO, David and his chief of staff saved hours of administrative work each month. They also reduced unnecessary costs and gained full transparency and control over estate finances. The seamless automation and personalisation allowed David to focus on strategic investments rather than day-to-day expense management.
The future of family office payments
The future of payments for family offices is being shaped by several key trends. There is a growing demand for personalised financial services, including customisable spending controls and real-time budgeting. Simplifying cross-border payments for fast and cost-effective international transactions is also a priority.
Family offices are increasingly adopting discreet payment methods, such as wearable solutions embedded in luxury accessories, for seamless transactions. Integrated platforms that combine financial management with lifestyle services are also on the rise. Security remains essential, with a focus on biometric authentication and advanced encryption. Sustainability is becoming more important as family offices look for platforms that align with their values, especially for managing sustainable investments.
By bridging the gap between private banking’s exclusivity and fintech’s efficiency, BOBO provides a seamless, high-touch financial experience tailored for the modern family office.
About BOBO
Bourgeois Bohème (BOBO) is a financial service for (U)HNWIs, private households, and family offices, streamlining high-value transactions and providing 24/7 assistance. BoBo offers high-limit accounts, allows for onboarding third parties to conduct transactions on behalf of primary account holders, and manages expense reconciliation and lifestyle requests, saving up to 50% in administrative time with exceptional support.
