Technology & Digitalisation

Technology & Digitalisation

Banks and financial service providers are changing more and more and have to face the challenges of digitalisation and the associated innovations. WEPEX consultancy has been carrying out extensive market studies and started a strategic partnership with micobo GmbH, which specializes in FinTech and technology consulting. WEPEX micobo maintains research co-operations with various universities and colleges and has already carried out numerous strategic consultations and feasibility studies for customers and implemented digitization projects. WEPEX micobo also operates a blockchain lab that focuses primarily on distributed ledgers and block chains: Here, use cases for customers are identified, analyzed, mock-ups and prototypes are created and, if necessary, digitization projects are initiated.

The co-operation with the Frankfurt School of Finance & Management and its Blockchain Center as well as the work of Prof. Dr. Philipp Sandner on the Advisory Board of WEPEX are in particular value-adding to WEPEX’ customers: Prof. Dr. Philipp Sandner is an internationally renowned digitization and FinTech expert, heads the Frankfurt School Blockchain Center and is a member of the German government’s FinTech Council.

The core areas of our Technology & Digitalisation division and selected projects are presented below:

 

Digital Wealth Management

Digital Wealth Management describes a digital asset management assistant (Robo Advisor), which can automatically manage entire portfolios in addition to automated asset allocation. Digital Wealth Management also provides access to professional investment advice for a new and expanded group of people with minimal minimum investment requirements. The possibilities range from investment advice to comprehensive mandated asset management, taking into account the client’s investment objectives and risk preferences.

WEPEX support you in the implementation of tailor-made solutions. Below you will find a small selection of relevant projects we have carried out:

  • Several traditional German private banks: Digitization strategy focusing on digital wealth management with subsequent implementation, roles: Strategy consultants, external project managers and steering committee members, project coordination, architectural design, technical concept, IT conception and test
  • German asset manager: Conception and implementation of digital distribution channels and digital wealth management for private clients, roles: Project management, project coordination, architectural design

 

Portfoliomanagement & Trading

Digital Portfolio Management & Trading consolidates social trading, crowd sourced trading, product search and data aggregation. Innovations in the area of portfolio management offer new market access, particularly in the retail business, through additional service layers as an extension of existing services.

We support you in the implementation of tailor-made solutions. Below you will find a small selection of relevant projects we have carried out:

  • Regional Bank: Customer-specific market study for upcoming investment decisions
  • Sparkassen (savings bank)-Finance Group: Customer-specific market study for upcoming investment decisions
Digital Banking

The digital offering in banking is significant for contacts with bank customers. Already, one in four Internet users (24 %) no longer visits a bank branch and 47 % of the bank customers visit the branch only occasionally (Bitcom Research 2017). In particular, digitized standard services, which can be easily covered by online banking or mobile banking, reduce the need for a branch visit.

Based on a dramatically shifting from personal interaction between bank advisors and bank clients to an increasingly growing digital offering, the topic of Omni-Channel Banking is of key importance for banks in customer loyalty as well as in the acquisition of new customers.

We support you in the implementation of tailor-made solutions. Below you will find a small selection of relevant projects we have carried out:

  • German traditional private banks: digitization strategy, design & implementation of improved digital banking business (online-banking/eBanking, e. g. account and custody account management, account and custody account information, payments, securities orders, etc.), roles: Strategy consultant, external project manager and steering committee member, specialist architecture, technical conception
Crowdfinance

Crowdfinance comprises crowdfunding, crowdlending, crowdinvesting and crowddonation. The different types of financing in all customer segments range from traditional lending to mezzanine forms of financing. Crowdfinance is one of the best-known business models in the FinTech sector.

We support you in the implementation of tailor-made solutions. Below you will find a small selection of relevant projects we have carried out:

  • Co-operative bank: Crowdfunding preliminary studies, identification of use cases
  • International stock exchange: Advice on the acquisition or own development of Crowdfunding
  • Micobo: Implementation of an internally developed software as white label solution for the growing SME crowdfunding market.
Personal Finance Management

Personal Finance Management (PFM) describes an innovative approach to financial data that is used particularly by private customers in the retail business. Nowadays, online banking and a multi-devices app are no longer sufficient. It is crucial to think holistically from the customer’s point of view and not only to develop a cumbersome current account app that is as outdated and slow as the underlying infrastructure. PFM is concerned with creating a comprehensive portfolio view of all accounts, custody accounts and investments, including insurance and pension claims, with controlling, analysis and simulation functions.

We support you in the implementation of tailor-made solutions. Below you will find a small selection of relevant projects we have carried out:

  • German private bank: Digitization strategy, design & implementation of advanced Personal Finance Management (inter-bank consolidation of accounts and custody accounts, controlling and analysis functions)
  • Foreign stock exchange: Advice on the establishment of a comprehensive portfolio view application for all accounts, custody accounts and investments with controlling, analysis and simulation functions.
Digital Payment

corporate banking, lending, retail banking, private banking, commercial banking and wholesale banking etc. under Core Banking.

Processes and systems must be continuously developed further to meet the high demands of customers and regulators.

All-in-standard core banking systems typical in the market are e. g. OSplus (savings bank financial group), Agree / Bank21 (Fiducia/GAD), Avaloq, T24 (Temenos), SAP, Core24 (Kordoba), TCS (Tata), MidasPlus (Misys), Konto3000 (CSC) and so on. Of course, there are numerous special systems that perform individual functions, both as standard systems from software manufacturers and as individual banks’ own developments.

Selected projects that we have carried out in this environment are listed below:

  • German big bank: Advice on the renewal of the core banking process and core banking system landscape (establishment of a comprehensive program management manual, definition of governance and committee structures, control and reporting processes, bundling of projects into programs)
  • German big bank Sub-project management for the standardization of core banking and payment systems (introduction of a central core banking system and replacement of local applications in 34 foreign locations)
  • International commercial bank: Optimization of business partner master data processes, standardization of client codes, extensive centralization of responsibilities, synchronization of all relevant systems along the value-added chain with the central master data system, comprehensive expansion of master data for internal and external requirements.
  • Cooperative banking group: migration of credit accounts to a central system for better identification and calculation of values and risks
  • Cooperative banking group: management of the technical specifications and implementation for further developments at the front workplaces in the primary banks.
Data & Analytics

Whilst in the past the challenge was to get the relevant information and data, today the treatment of the big volume of data (Big Data) and the complex universe of data sources becomes more and more the new challenge to address. Thereby the cost-efficient treatment as well as adding value of big data have to be covered (Data Monetisation). New technologies and digital trend open new horizonts. There WEPEX is able to enable clients to introduce instruments as e,g. machine learining, artificial intelligence (IC), performance diagnosis, descriptive analytics, predictive analytics and prescriptive analytics.

Distributed Ledger Technology / Blockchain

The Distributed Ledger Technology (DLT) is a special database management system in which virtual values (e. g. money or securities) can be exchanged by means of a specific communication protocol. Decentralized and efficient data storage is of great importance. Blockchain stands for a special, consensus-based application of DLT. DLT is expected to significantly reduce banking costs. This is proven by numerous studies, including the WEPEX advisory board of Prof. Dr. Sandner.

Most banks and financial service providers see DLT merely as a tool to save on the annoying infrastructure costs, just as they did on the Internet. This has influenced banks primarily in terms of communication and distribution channels, but the actual business model has remained unchanged due to its function as a trusted third party. However, DLT now opens up the possibility for digital stocks to be managed and traded directly between peers, opening up new business models. Finally, it can also be concluded that broad adoption and its temporal horizon are uncertain and depend on the factors ecosystem, governance, scalability and regulation.

We support you in the implementation of tailor-made solutions. Below you will find a small selection of relevant projects that we have carried out:

  • Cooperative bank: Blockchain preliminary studies, identification of use cases, business models and opportunities in the Distributed Ledger technology
  • Stock exchange in Germany: digitization strategy, preliminary studies, use cases, business modeling and conception (data monetization, digital transformation, block chain/DLT, automation)
  • Foreign stock exchange: digitization strategy, preliminary studies and use cases with a focus on post trade automation
  • Various other banks: Symposia and workshops
WEPEX micobo Blockchain Lab

Tech quartier, Platz der Deutschen Einheit, Frankfurt a.m. In the Silicon Valley of Europe, in the tech quartier in Frankfurt a.m., the digital lab of WEPEX and Micobo works with a focus on Blockchain. In close cooperation with leading universities, use cases are identified and validated, prototypes are programmed, products delivered and numerous training courses, seminars and preliminary studies concerning distributed ledger technology, Blockchain, smart contracts, Ethereum and Corda offered.

Partners & Associates