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Competencies

 

Apple Pay, PayPal, Google Pay – today the options for digital payment solutions are limitless. And with the likes of Alipay and WeChat, new systems are just around the corner.

 

Complex and still plagued by paper-based processes. That’s how foreign trade is often described. The last dinosaur. And despite the COVID-19 crisis and Brexit, foreign trade still continues to be one of the pillars of modern economies.

 

Search Google for the word “credit” today and you’ll instantly get millions of hits. Credit is the most natural thing in the world and a key component in global economic systems. Online, fast and secure. Even for B2B.

 

The finance sector is not about to face massive challenges. It’s already in the thick of them. The digital transformation has had a major impact on the banking world as we knew it a mere decade ago.

 

Just imagine if people who drove more carefully paid lower car insurance premiums. Or if people who lead a healthy lifestyle and play sports could reap the rewards when buying life insurance. Sounds like the future?

 

What’s hidden behind these four little letters? OMDS is a data standard offered by an insurance association in Austria. Sounds simple, but its effects are far-reaching.

Payments

Trade & Finance

Credit systems

Banking formats

Insurance premiums

OMDS

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Payments

Apple Pay, PayPal, Google Pay – today the options for digital payment solutions are limitless. And with the likes of Alipay and WeChat, new systems are just around the corner. And there’s more in the pipeline: Facebook is about to launch its own currency called Diem and Check24 has even been granted its own bank licence. But what does that mean for us? Or rather, for you? These corporations have virtually perfect IT eco-systems and a mammoth customer network. By getting to grips with the customer interface, they can offer their own convenient payment services.

Does that mean banks will soon be obsolete? No chance. But they can’t bury their heads in the sand either. They will have to provide seamless and uninterrupted legacy systems that network with the systems of merchants and providers, and integrate new customer services or products with their back-end systems.

As you can see, there are vast challenges facing the payments sector. And not just for banks, but for many other sectors and businesses too. That’s where we come in.

One of our competencies is developing payment systems, including customer interfaces, conversion of international banking formats, and back office infrastructure. This requires high-performance order management systems, integration with master data systems, and connectivity with the financial services sector. And security is always a top priority in this highly sensitive business area.

Benefit from our longstanding experience and expertise. Our specialists are familiar with every payment system and will work with you to find the solution that meets your unique requirements. Whether it’s consulting for complex issues such as TARGET 2 and TARGET 2 Securities Consolidation, or implementing and launching modern back office tools or quality-assurance testing processes, we’re with you every step of the way.

Can we pay? By all means. No matter what system you use.

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Trade Finance

The ‘dinosaur’ of the digital age.

Complex and still plagued by paper-based processes. That’s how foreign trade is often described. The last dinosaur. And despite the COVID-19 crisis and Brexit, foreign trade still continues to be one of the pillars of modern economies.

We distinguish between two types of trade finance: the traditional document-based trade and payment cycle, and supply chain finance. Execution and risk mitigation for international trade are supported by payment and security instruments, such as letters of credit, debt collection services, bills of exchange and guarantees.

Supply chain finance is actually a hybrid between finance and supply chain management. The players (e.g. suppliers, logistics providers) in the supply chain are critical, as are the what (e.g. logistics properties, inventories) and how (e.g. leasing, inventory transfer) of financing. It involves the financial aspects of the supply chain and optimisation the capital costs.

Both types of trade finance face similar roadblocks. Cost pressures will increase for all market players. In future it won’t be enough to simply issue guarantee documents quickly and accurately or to process documents cleanly.

But what does that mean for the here and now? That you should design your processes efficiently with technology suitable for the ‘new’ world of trade finance. And that’s where we come in. We’ll work with you t create the basis for future-proof IT infrastructure.

We’ll help you to introduce new technologies: blockchains, e-invoices, intelligent character recognition, use of AI in testing processes or for read-only digital signatures/signed documents and bank payment obligations (BPO) are technologies which allow us to offer you new opportunities to do faster, more secure, efficient and cost-effective business.

It’s time for the dinosaur to evolve.

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Credit systems

A revolution?

Search Google for the word “credit” today and you’ll instantly get millions of hits. Credit is the most natural thing in the world and a key component in global economic systems. Online, fast and secure. Even for B2B.

Credit systems are nothing new, but they still have a long way to go. Essentially, we are on the brink of a ‘revolution’ – if you look at the decreasing margins due to the current interest rate policy, you have to think seriously about further digitalisation and standardising processes and systems. And that involves both consumer and business credit.

Sounds easy, right? But there are lots of factors to consider. For one, you need to accelerate automation to bring down costs. But at the same time, the risk management of lending (and receivables management) and compliance systems must not be neglected. Banks are some of the world’s most regulated businesses. And last but not least, there’s one thing we can’t forget: user experience and handling.

Sounds like a challenge. And that’s why it’s perfect for us.

Together, we’ll develop new application-based rating models, support you in the construction and implementation of new analysis systems, and handle process management. And once these systems are up and running, our UI/UX experts will come into play: they’ll ensure that user interfaces are easy to navigate and are self-explanatory as much as possible. Because the visuals matter.

And throughout it all, we ensure compliance with the new EU General Data Protection Regulation (GDPR) and German banking regulations such as BAIT (Supervisory Requirements for IT in Financial Institutions). We are experts in these matters too. Because many of our consultants draw on their longstanding experience in major first-rate finance institutions.

The revolution is cancelled. We’ll deliver the solutions.

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Banking formats

The finance sector is not about to face massive challenges. It’s already in the thick of them. The digital transformation has had a major impact on the banking world as we knew it a mere decade ago.

We’d like to take a break from our usual website format for a moment to introduce you to each of the main roadblocks which banks will have to overcome in the coming years, and to explain how our answers and solutions can help.

So, let’s take a look at our range of services:

E-banking: The biggest challenge facing banks and financial service providers. The interface to the end customer. The question on everyone’s lips: How can I create a better user experience?

  • Development of retail front-end, contract management and e-banking systems
  • Integration/Enterprise Service Bus for e-banking, MDM, order management and contract management systems
  • Analysis and design of flexible business processes to satisfy multinational requirements, e.g. Portal, SWIFT, H2H

Trade finance: Gateway to the world – banks are a critical component in trade finance supply chains. How do we enhance processes and products?

  • Handling of documentary payments for integrated supply chain management and export financing.
  • Development/maintenance/integration of external and third-party solutions for providers and banks
  • Process analysis and definition, platform design, adapting business processes, maintenance and professional services

Credit Credit is a critical part of global economic systems. What needs to be done to make your core business more cost-effective?

  • Solutions for risk analysis and customer potential analysis
  • Application-based rating models for banks
  • Analysis, design and implementation of an assessment system including data history reporting/risk management
  • Gathering the necessary information and delivering reports on it
  • Data collection and integration with different systems and authorities
  • Analysis of data sources, data cleaning and preparation, and managing requirements

Contract management: Contracts are fundamental to business negotiations. How can we optimise and automate contract management?

  • System integration including embargo, monitoring and compliance systems
  • Enhancement of message processing to ensure efficient inspections
  • Define and implement workflows to cover legal requirements

Order management: The contract has been signed and the order is in full swing. How can the process be monitored and controlled?

  • Receipt, analysis and rule-based sharing of payment messages according to type, channel and priority
  • Cross-platform solutions for routing payment messages efficiently
  • Analyse and design flexible business processes to satisfy multinational requirements

Payment processes: An area experiencing a profound transformation. Driven by compliance, cost pressures and regulations. How can we overcome these obstacles?

  • Analyse, validate and transform payment messages, from processing through to clearing
  • Integrate e-banking channels and core banking systems; product development for providers and banks
  • Wide-ranging knowledge of national and international formats, banking and clearing, routing and contract management
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Insurance premiums

Safety first. But with a modern touch!

Just imagine if people who drove more carefully paid lower car insurance premiums. Or if people who lead a healthy lifestyle and play sports could reap the rewards when buying life insurance. Sounds like the future?

The future is now. Today’s customers want information, services and prices anytime, anywhere and at the touch of a button. Amazon, Google, Apple and all the big names show what it’s like to know everything about your customers and to predict, personalise and provide a service-oriented experience.

Price comparison sites, online policies and support apps are transforming how insurance providers work. But how? Benefit from our insurance sector expertise. Working with you, we will develop the necessary IT solutions to provide new, flexible, transparent, and most importantly, personalised products that allow for prices that adapt to the needs and changing lives of customers.

How does it work? Firstly, we collect and analyse data from across the entire customer journey. Why? Because today’s consumers demand simple, flexible, and above all digital solutions. Their lifestyle and life phases are very different today from how they were twenty or thirty years ago. We use these data to develop new insurance products and prices together with you – solutions designed to suit the demands of today.

But we’ll do even more than that. We’ll lay the foundations for enhanced risk analysis processes, meaning you can offer more customised policies. You’ll save time and money, and your customers will benefit from quicker processing times and cheaper premiums.

Can you imagine that? We can.

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OMDS

What’s hidden behind these four little letters? OMDS is a data standard offered by an insurance association in Austria. Sounds simple, but its effects are far-reaching.

The Austrian dataset (OMDS) is used to exchange standardised data between insurance providers and brokers. The use of standardised data saves brokers from having to manually input them into their own legacy management systems. This ensures legacy management systems can process and update data from suppliers consistently and independently. The latest information can be accessed from their own system by anyone at anytime on separate company portals.

What does that mean for you? Service and consulting will be better, faster and more secure, as partnerships within the insurance sector will be much simpler.

A win-win situation for all involved. Estate agents and insurance providers save time and costs by reducing their workload and avoiding double data collection. And at the end of the day, the customer will get their policies much faster.

OMDS is our success story. We analysed the situation, developed the design, and implemented it in full. And it gets even better: Version 3.0 of OMDS can even exchange data and services in real time.

Not bad for a simple abbreviation like OMDS

Find out more about B.O.T