Bank & Insurance

Bank & Insurance

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Bank & Insurance

With deep expertise in both business and technology, Wevioo's teams support players in the Banking, Credit-Financing, Insurance, Brokerage, and Mutual Insurance sectors in defining and executing their operational and digital strategies.

From defining the roadmap for business, organizational, digital, and data transformation to steering the execution and implementation of projects, we are a strongly committed partner for the success and performance of our clients.

On a daily basis, and with a solution-oriented consulting spirit, our teams collaborate hand in hand with our clients' teams to face their challenges and seize the opportunities offered by new digital technologies: transforming the customer experience, increasing operational efficiency, modernizing their IS, but also mastering risks and optimizing costs.

Business strategy

Wevioo Group helps general management teams in the Insurance, Banking, and Financial sectors develop strategies based on a "Blue Ocean" approach. This approach explores new strategic spaces that have not yet been exploited and that are now within reach thanks to digital technology and AI.

The operational strategies that we develop with our clients focus on innovation in customer service, opening up to the ecosystem to benefit existing customers and reach new ones through digital channels, reviewing distribution and communication channels and adjusting them to adapt to the evolution of digital demand, reviewing customer service quality objectives and reviewing organizations and adjusting operating costs

Our approach is based on:

Diagnosing the operational and technological maturity of organizations
Developing a sectoral benchmark
Pragmatically defining a short- and medium-term target
Implementing a Lean and Agile approach to business, organizational, and digital transformation with optimized ROI

Digital roadmap

New regulations such as “International Financial Reporting Standards IFRS”, ”Foreign account tax compliance Act FATCA”, “General Data Protection Regulation RGPD”, etc... as well as digital innovations introduced by Fintechs such as Mobile first, API management, microservices,... require financial institutions to upgrade their organization and their information system.

Thanks to their expertise, Wevioo's consultants bring to their clients an innovative and pragmatic approach to develop these transformation needs into clearly defined projects with approved and shared objectives. These projects are then broken down into a roadmap focused on the organization's priorities as well as its financial and human capacities to implement them in the required time frame.

Wevioo's consultants are involved in the deployment of these roadmaps, providing their clients with their methodological expertise in project management and portfolio management as well as their business expertise. They thus carry Wevioo's commitment from the early stages of reflection to the completion of the project.

Operational excellence

Financial organizations operating through a branch network or in hybrid mode (both digital and physical) are strongly challenged by fully digitalized organizations such as neo-banks, payment institutions and fintechs.

To face this new competition, institutions are starting to rethink their customer journey (at the digital level) and their operational processes (at the physical level). This allows them to identify potential savings in terms of time, human resources and skills while preserving the commitment to quality of service and control of operational risk.

Our certified consultants help to deploy the most appropriate approaches to the business sector and to each issue. Thanks to their know-how, they propose quick-win actions as well as target transformation scenarios to be deployed in the short or medium term with return on investment studies.

Our service offer, essentially inspired by the DMAIC methodology, also includes a know-how transfer component to the institutions' internal teams in order to enhance their autonomy and the development of an internal center of excellence.

Credit risk

Commercial banks and financial institutions are exposed to an increasingly regulated and complex environment impacting their credit granting process and credit portfolio quality management.

In response to these challenges, Wevioo has developed a methodology for the review of credit granting processes and their structuring. This includes the definition of appropriate procedures for the management of commitment limits, warranty management and credit risk management.

In addition, Wevioo's consultants bring their know-how in the digitalization of the credit granting process by deploying end-to-end automated workflows from the financing request to the decision. These workflows are supported by scoring solutions (qualitative or quantitative ScoreCard) or rating solutions that comply with Basel and IFRS9 standards in partnership with leading European firms in the field.

Performance management

The traditional business model of banks, insurance companies and specialized financing institutions is strongly challenged by the arrival of new models such as "Online" or "Neo" or "Fintech".

This new situation impacts operational efficiency and profitability (ROE, ROI).

As already experienced in other fields, Wevioo's consultants bring to the banking sector performance analysis approaches such as "Activity Based Cost" ABC.

This approach is supported by the implementation of data warehouses (DWH) as well as analysis tools (costs, revenues and dysfunctions), operational and management reporting, and management dashboards such as "Balanced Scorecard".

IT transformation and modernization

Traditional IS in banking, credit-financing, and insurance are under pressure.

Technical debt from legacy developments, the difficulty of maintaining and evolving applications and an IS sometimes at risk of technological obsolescence, and the lack of openness and agility of standard commercial software packages are often a major obstacle to innovation and digital transformation.

We provide our clients with end-to-end support for a Smart, progressive and secure transformation and modernization strategy:

A clean Core-System: support the choice and deployment of standard commercial off-the-shelf (COTS) business software, intelligently implemented with minimal customization and a scope limited to the most standard and basic business processes.
An API-first architecture and API Management for communication between the Core-System and the various business applications (best-of-breed approach), digital frontends and external applications and services of partners, suppliers and customers.
Implementation of Low-Code for the development of innovative UX and Web and Mobile frontends, the orchestration of processes and the different applications of the IS, in conjunction with RPA and AI for process automation.

We combine a deep understanding of the business with a mastery of processes and standard market software packages (Cassiopée, Ekip, T24, Sab2i, Murex, Guide Wire ...) and new digital technologies, enabling us to provide support in the best interests and performance of our clients.

Our services cover:

Definition of the master plan and IS roadmap
Program management and steering of deployment projects
Steering and management of international Roll-Out projects in Europe, Africa and the Middle East.
Expression of needs and drafting of business, functional or technical specifications, and specialized legal and purchasing support for the choice of software packages.
Assistance to the business in defining functional needs and designing the target business IS solution and steering publishers and integrators.
Technical assistance to define the technical architectures and the adequate infrastructures as well as in the support during their implementation.
Assistance with acceptance and manual or automated SIT or UAT tests.
Change management support.

Process digitization

The transformation of digital UX inevitably requires end-to-end digitization of processes to offer customers a "seamless", instant service with optimal accessibility and via multiple devices.

Digital transformation also puts pressure on the company's processes, making it imperative to have a 360° view, requiring better orchestration and reengineering of processes that are generally thought of in organizational silos.

In this transformation, the Data dimension is essential, both in its collection and in its processing in compliance with security requirements, data privacy (GDPR) and in compliance with the regulatory requirements specific to the Banking and Insurance sector (KYC, FACTCA, ALM, etc.).

With a "Compliance by Design" approach, our consultants integrate regulatory compliance from the very first thoughts on the digital target of your processes. They also provide you with their business and technical expertise for the reengineering of your processes (BPM, BAM, Process Mining) and their automation: Low-Code, RPA, OCR, AI, Generative AI ...

Project Management Assistance for financial solutions

Our consultants support financial institutions in the deployment of recognized business ERP solutions.

They bring their perfect knowledge of Amplitude and T24 for retail banks, their mastery of Cassiopae and EKIP360 for leasing institutions and finally their MUREX expertise for institutions specialized in market activities.

At the same time, Wevioo's consultants work to keep the know-how up to date thanks to a permanent contact with the editors and an active participation in business IS upgrading projects.

Digital innovation

Digital transformation is also taking place through the adoption of disruptive technologies (Blockchain, AI, RPA, intelligent OCR, IoT, biometric identifications, microservices, Big Data, etc.) to bring a new value proposition to customers as well as productivity and agility levers.

Wevioo relies on the know-how of its R&D consultants in its specialized structure Wevioo Labs and on the ecosystem of its partners "fintech and startups Betacube" to provide innovative solutions with a strong business impact

Within this framework, Wevioo's consultants carry out "Proof of Concept" with their clients and develop, using Design Thinking approaches, the value proposition of each digital initiative, whether in terms of customer experience, operational efficiency, data enhancement or additional revenue generation.

Once the "Proof of Concept" has been validated, Wevioo's consultants implement the digital initiative and support its deployment by transmitting know-how to the client's teams to create centers of excellence in this field.