Jo Cuyvers (Managing Director at DynaFin) and Steffen Lorenz (Global Industry Leader Banking & Insurance at Software AG).
Jo.cuyvers@dynafin.be
Steffen.lorenz@softwareag.com
Welcome to the DynaFin podcast.
We bring you the latest Finance and Technology news straight from the market.
Don't hesitate to contact us, we'll be pleased to meet you!
Jo Cuyvers (Managing Director at DynaFin) and Steffen Lorenz (Global Industry Leader Banking & Insurance at Software AG).
Jo.cuyvers@dynafin.be
Steffen.lorenz@softwareag.com
Welcome to the DynaFin podcast.
We bring you the latest Finance and Technology news straight from the market.
Don't hesitate to contact us, we'll be pleased to meet you!
Sponsor 0:10
Welcome to the DynaFin podcast. We bring you the latest finance and technology news straight from the market. Thanks for tuning in to this specialist series with Jo Cuyver managing director DynaFin and partner Software AG represented by Steffen Lorenz. In this series, they will unravel the challenges and future innovation behind the banking value chain model.
Koen Vanderhoydonk 0:45
Hello, yo, hello, Steffen. Let's have a little bit of and deep dive how your collaboration between two companies looks like
Jo Cuyvers 0:54
I could Great to be here with Steffen and indeed, happy to elaborate a bit more on how this collaboration look like. So we started working together DynaFin and Software AG about two years and a half ago, I guess it was first contact started out by a real interest on the DynaFin site in the artist product, which is one of their famous products and everyone in banking industry knows this product. And we were really deep diving in the process mining tool of ours. So we started discussing, and we saw that there was a lot more of creating together value for our customers than we first thought. So we decided to sign a strategic strategic partnership to service our customers together.
Steffen Lorenz 1:45
Yeah, and for us for from Software AG's important to have partners like DynaFin, because our tools at the beginning industry agnostic, we don't have any specific features for the banking industry. And to really create value for our customers, we need to have consultants like the people from DynaFin, who add that value to the customers who use the tool in projects and apply it to the specific requirements and questions from banking customers.
Koen Vanderhoydonk 2:18
And could you maybe explain a little bit more in detail what the product is does?
Steffen Lorenz 2:24
Yes, ARES is a product that is used to to process management. That means that you document all the existing business processes, and also explain how that fits into the organization, how that is linked to the IT systems to the different roles of people. So that's a very holistic approach of describing what the bank is doing. And based on this information, you can also make plans how these processes should evolve, how they should be changed in the future, to become more customer oriented, more efficient. Yeah, how you can improve processes in general.
Koen Vanderhoydonk 3:07
And you're Are you willing to share some success stories,
Jo Cuyvers 3:12
the main reason of partnering is to that we were convinced that we could create additional value for our customers. Combining both strengths would mean creating additional value. Of course, what is meant with creating value, we can reduce costs by using technology of Software AG combined with our let's say business consultancy views, we'll take an example. All processes are documented. And so when starting a new transformation project, clients have a full view on the essay situation. And they can also estimate more easily the impact when they transform. Another example is for example, the processes are documented. So additional staffing, which requires training can be organized via this way via the tool eyes. So again, reducing cost of training of onboarding new staff. Another value creator is the control tower solution that we find in the ARES tool, which is a management tool used to monitor risk compliance issues in real time. Interesting, added value, I guess in this in these times, together with Software AG, we focus on creating shorter time to market start projects together with our customers, both of our solutions, make sure that there's real added value real quick for the customers. And then of course, we focus also on the quality increase, making less errors, automating these processes, deleting the human errors in these processes.
Koen Vanderhoydonk 4:53
So how will the typical process or a project look like where does the collaboration comes in and how do you tackle that?
Jo Cuyvers 5:00
It can go both way. Maybe there's a technological question sent towards a softer ag or there's a business related question or challenge sent to the Nephin. And then we discussed together, which is the best possible solution for our customer.
Steffen Lorenz 5:16
It could also be the other way around, there's a business question addressed to Software AG. And we are not the business experts for banking, then we can go to DynaFin and ask them for advice. Or the other way around, if they are asked some technology questions, where maybe Software AG is the expert?
Koen Vanderhoydonk 5:34
Well, that's a nice model that makes you stronger by being both of you.
Jo Cuyvers 5:40
Yeah, and I guess both companies are in continuous contact with the customer base, meaning we have a full view on our business, and our client's needs. So does Software AG event, combining both insights even becomes a more clearer view that we shared in our postgame podcasts, but also in newsletters sent towards our customers?
Koen Vanderhoydonk 6:02
Now, it's about sharing information.
Steffen Lorenz 6:05
Yeah, it's really about combining technology and business expertise.
Koen Vanderhoydonk 6:09
What would a typical implementation process look like?
Jo Cuyvers 6:13
Typically, it starts off with an analysis made by identifying consulting on real business needs and the value that customers are looking for, based on our deep knowledge of products and services, and processing front to back. Based on that, we will define which solution we can provide for the customer. That's where Software AG comes in. They have, we're talking about the artist profit product, but they have much more different products that are valuable for our customers. So in clear discussion with them, they decide which technical solution can support the business solution.
Steffen Lorenz 6:52
Yeah, we can add that technology expertise, our risk consists of different modules that customers can choose. Yeah, so not every module is required by every customer, we can help finding out which module makes the most sense for the specific business problem that the bank has. And then we can also support with, for example, providing the right installation. Yeah. Does that bank requiring an on premise installation of the tool or can they maybe use a cloud based version which is easier to maintain and quicker to provide? Yeah, so the the technology angle is then covered by software, he
Jo Cuyvers 7:32
makes a lot of sense. And typically, what would we do is to organize a proof of concept, we will take out one of the processes a bank wants to optimize, we will set up for example, let us take a process mining solution, we will define a set of tasks on which we will apply the process mining to we will show the clients the process that comes out automatically, we will show them how they can optimize these processes and gain value. And this in a set of four to five to five weeks.
Koen Vanderhoydonk 8:05
Wow. Impressive. Earlier you said that ARES is a solution which is built for an industry for a wide variety of type of customers. But how would you make it banking specific,
Steffen Lorenz 8:19
we make it banking specific with the help of DynaFin, who apply the tool to a certain banking process. For example, account opening, loan origination, whatever. Yeah, because the tool itself is industry agnostic. The features that we offer to document a certain process to link it with IT systems, with the organization and so on, to simulate what the impact on a business process is when you change that process. That is always the same for every industry. But we need to make it specific for the bank for the loans business for the account opening for securities for whatever. That's what we do together with Donovan,
Koen Vanderhoydonk 9:07
what would you see is the main benefit for a bank using ARES, and obviously collaborating with yourselves.
Jo Cuyvers 9:14
The main benefit I would say for a bank is that they enable trust by using the tool by documenting processes by making sure that risk and compliance issues are visual and are managed via the control tower function. So trust towards the regulator, trust on the level of management teams that are within control of daily operations and trust towards customers, which can be retail customers or institutional customers now, for example, in ISO certification of your process management is very trustworthy.
Koen Vanderhoydonk 9:52
And that makes a lot of sense for a bank. That creates a lot of
Koen Vanderhoydonk 9:55
value. Yep.
Steffen Lorenz 9:58
So in general We support banking customers in their transformation initiatives, whether that is transformation towards more digital, or to digitize the business, whether that's transformation towards regulatory excellence, yeah, being really super efficient in what you do regarding being compliant to certain regulations. It's also the transformation towards sustainability ESG, what's now coming up as the next big challenge for the entire industry. And we are also supporting the transformation of the workforce. We do have many people in banks now retiring, they have to be replaced by younger people, the generation set, they need to be brought into the organization, they need to be teacht trained, enabled, so that they can work as efficient as the people when are leaving the company.
Koen Vanderhoydonk 10:59
So how does your partnership create value for your customers?
Jo Cuyvers 11:06
Yeah, I think the combination of DynaFin's product and services as well as processes end to end expertise, combined with his technical solutions that Software AG can provide is providing a lot of value for our customers. One example is for example, they can reduce cost. You can imagine when you have documented your processes. When starting an transformation project, that you have a full view on your as-is situation that you can estimate your cost when transforming. Very valuable, very valuable. Another example is with a workforce that is being renewed. You also need to train new colleagues that you onboard. Again, documentation in artists is helping a lot with this. Another value that we are creating together is that we provide management team with control tower solutions, meaning they have a full full view on with managing tasks in operations. But not only that, also where are the risks, where is the compliance issues and how to monitor them. Another one, which I would like to say is okay, together we enable shorter time to market that's valuable in this agile way of working we try to create value for is Time is money, indeed, coming towards customer new functional functionalities as soon as possible. And of course, one of the main focus of dynorphin and Software AG is to increase quality. When you design your process, you can estimate where you have quality defaults. Try to eliminate for example, human errors in your process. Make sure that you're more straight to true processing and creating high quality end to end processes.
Koen Vanderhoydonk 12:52
How can they reach you guys?
Steffen Lorenz 12:55
You can always contact me from Software AG that is Steffen dot Lorenz at softwareag.com.
Koen Vanderhoydonk 13:03
Thank you, Steffen.
Unknown Speaker 13:04
And you or send me an email. You will not go over at DynaFin dot Be.
Koen Vanderhoydonk 13:10
Thank you very much. Thank you. Thank you.
Sponsor 13:14
Thank you very much for listening to our dynorphin podcast. Stay tuned for more updates by following us on this channel.