Business Processes Support Growth at BMW Group Financial Services

2006 ◽  
pp. 11-15
Author(s):  
Nicolas Lacker
Keyword(s):  
Financial Services ◽  
Business Processes

scholarly journals Transformation of digitalization system of business processes at VTB Bank, PJSC

2021 ◽  
Vol 2021 (2) ◽  
pp. 70-79
Author(s):  
Viktoria Valerievna Mandron ◽  
Nikita Sergeevich Budaev ◽  
Alice Aleksandrovna Pototskaya ◽  
Tatiana Nikolaevna Sidorina
Keyword(s):  
Financial Services ◽  
Information Technologies ◽  
Business Models ◽  
Business Processes ◽  
Banking Sector ◽  
Financial Institution ◽  
Block Diagram ◽  
It Architecture ◽  
The People ◽  
Technological Platform

The article is focused on the increasing role of modern information technologies in banking sector. Today, the informatization process includes not only developing a safe and modern infrastructure, networks, data processing centers, but also creating the so-called digital economy on the basis of this infrastructure, which will bring new sources of income to the state and the people. The banking sector of the Russian Federation is most actively involved in the process of solving this problem. The development of automated business processes in VTB Bank (PJSC) is considered in detail. There is presented an overview of the bank's information technologies in such key areas as artificial intelligence, big data analysis, machine learning, virtual and augmented reality, optical recognition, robotics, robotization of process, blockchain, and chat bots. The dynamics of the main indicators of a financial institution activity is analyzed, an assessment of indicators characterizing the dynamics of changes in capital, net profit and profitability of the bank is presented. It has been stated that the strategic directions for the development of business processes in VTB Bank (PJSC) are constructing an advanced operational and technological platform, increasing the level of digitalization of the banking business, leadership in the financial services market in a number of ecosystems, developing a highly productive organization and culture, as well as growing the customer-centricity of business models. The block diagram of the VTB Bank transformation for 2020–2022 and the target version of the IT architecture of the bank have been illustrated. Changes in the IT architecture are one of the stages of the bank's digital transformation strategy. According to the objectives of the strategy of VTB Bank (PJSC), 100% of financial services should become available to customers online.

scholarly journals Innovative financial technologies as a factor of competitiveness in the banking

2019 ◽  
Vol 69 ◽  
pp. 00043
Author(s):  
Marina Glushchenko ◽  
Naila Hodasevich ◽  
Natalia Kaufman
Keyword(s):  
Financial Market ◽  
Asset Management ◽  
Financial Services ◽  
Business Models ◽  
Business Processes ◽  
Banking Services ◽  
Currency Exchange ◽  
Banking Business ◽  
Money Transfers ◽  
High Level

The models for the implementation and development of financial services and services are changing due to the global transformation of the financial and economic sphere, which is caused by the emergence of innovative financial technologies. This leads to a fundamental change in the financial market and the factors that determine the leading positions of its participants. Only the use of innovative technologies in the banking business ensures a high level of competitiveness in the market and further expansion of the client base. Banks are rebuilding traditional financial business models through cooperation with FinTech-industry, reforming business processes in areas such as banking services for individuals, lending and financing, payments, money transfers, asset management, currency exchange, insurance, blockchain transactions. The purpose of the article is to identify the main trends in the development of new financial technologies of banking. The authors identify the most important technologies that ensure the dynamic development of the global financial market and the fundamental transformation of the banking business in the past decade. In the article, the authors investigate the degree of their prevalence and the main areas of application in the field of banking, consider the successful practices of implementing of FinTech in the development of financial services.

scholarly journals Prospects for cooperation between the financial corporation and companies, working in the field of digital technologies

Upravlenie ◽  
2019 ◽  
Vol 7 (2) ◽  
pp. 57-64 ◽  
Author(s):  
V. S. Efremov ◽  
A. S. Pilishvili
Keyword(s):  
Development Strategy ◽  
Financial Services ◽  
Business Processes ◽  
Rapid Development ◽  
Digital Technologies ◽  
Open Architecture ◽  
Financial Industry ◽  
Digital Products ◽  
Advantages And Disadvantages ◽  
Main Regulator

The problems, associated with the development of new digital technologies, which, in turn, have an impact on the activities of large financial institutions of the Russian Federation, have been examined in the article. The aim of the study is to analyze the current situation in the economy, related to the growth of the market for digital products, their integration into the existing model of providing financial services to clients, as well as finding solutions to the joint activities of financial corporations and financial and technological companies. The definitions and main activities of financial corporations and fintech startups have been given in the article. The advantages and disadvantages of a large financial corporation and developing companies, operating in the field of digital technologies, as well as the positive results of combining their resources, have been highlighted. Positive examples of world experience in cooperation between the two types of these organizations and the attitude of the main regulator of the Central Bank of Russia to the development and implementation of financial technologies in the country’s economy have been adduced.The problems and opportunities of high competition in the struggle for the modern consumer, which lead to the rapid development of the entire financial industry market, have been analyzed. The results of the study have showed, that every day, worldwide, fintech companies test a significant number of digital products, various open architecture tools, methods of transferring information through blockchain technologies, and optimize and integrate into the existing systems new client base programs, that completely change the main business processes of large enterprises and have a significant impact on the main consumer - a person. This indicates the need for further research aimed at studying and analyzing the integration of financial corporations with technology companies, changing the existing business model, finding new approaches to the modern consumer and creating a new organization development strategy in the digital economy of the country.

ANALISIS SISTEM INFORMASI (SI) TERINTEGRASI DI PERGURUAN TINGGI (PT) (Studi Kasus: STT Pagar Alam)

2018 ◽  
Vol 10 (2) ◽  
pp. 83
Author(s):  
Buhori Muslim
Keyword(s):  
Business Process ◽  
Student Services ◽  
Information Integration ◽  
Financial Services ◽  
Information Needs ◽  
Business Processes ◽  
Scientific Work ◽  
The Core ◽  
Academic Services ◽  
Method Analysis

Abstraks Penelitian ini bertujuan untuk melakukan analisis serta identifikasi berbagai masalah kebutuhan infomasi Perguruan Tinggi (PT), terutama pada bagian layanan kemahasiswaan, bagian layanan keuangan, serta layanan akademis pada PT. Metodologi Analisa yang digunakan dalam penulisan karya ilmiah (penelitian) ini yaitu metode pengumpulan data, metode analisis dan perancangan sistem. Hasil yang dicapai adalah sistem informasi (SI) menjadi terintegrasi yang mampu mengefektifkan dan efisienkan pada bagian layanan mahasiswa, layanan keuangan dan layanan akademis serta menjadikan proses bisnis tersebut berlangsung secara efektif dan efisien. Kesimpulan dari penelitian ini adalah adanya masalah-masalah yang dihadapi pada bagian-bagian inti PT, yakni bagian layanan keuangan, bagian layanan mahasiswa, serta bagian layanan akademis dimana akan mampu mengganggu proses bisnis yang ada, serta solusi yang dihadirkan dengan adanya sistem yang dapat terintegrasi pada bagian-bagian tersebut. Kata kunci: Informasi, Integrasi, PT, Akademis, dan Proses Bisnis  Abstraction This study aims to analyze and identify the various problems of university information needs (PT), especially in the student services section, financial services, and academic services at PT. Methodology The analysis used in writing scientific work (research) is the method of data collection, method analysis and system design. The results achieved are integrated information systems (SI) that are able to streamline and streamline student services, financial services and academic services and make the business process effective and efficient. The conclusion of this study is that there are problems faced in the core parts of PT, namely the financial services department, student services section, and academic services section where it will be able to disrupt existing business processes, and solutions that are presented with a system that can be integrated in these parts. Keywords: Information, Integration, PT, Academic, and Business Process

scholarly journals IMPLEMENTATION OF GOOD CORPORATE GOVERNANCE AT PT AXA MANDIRI FINANCIAL SERVICES

2020 ◽  
Vol 1 (5) ◽  
pp. 815-828
Author(s):  
Hudriatul Hotimah
Keyword(s):  
Risk Management ◽  
Corporate Governance ◽  
Internal Control ◽  
Financial Services ◽  
Business Processes ◽  
Joint Venture ◽  
Added Value ◽  
Insurance Company ◽  
Life Insurance Company ◽  
Good Corporate Governance

Good Corporate Governance (GCG) is a system that organizes and controls a company so that it can form added value for all stakeholders. This study aims to determine the application of GCG at PT AXA Mandiri Financial Services (AMFS) which is a joint venture Conventional Life Insurance company between PT Bank Mandiri (Persero) Tbk and National Mutual International Pty. Limited (AXA). The research method used is descriptive qualitative. The results of this study indicate that PT AMFS has implemented GCG in an integrated manner in all business processes. This is evidenced by the transformation in 10 line areas, namely digital services, distribution, health and protection, human resources and culture, information technology systems, data, efficiency, customer experience, and offers (documents and products). PT AMFS also applies the Three Lines of Defense principle to an internal control system that is integrated with risk management. The main line of defense is the directors and all employees of PT AMFS. Second, risk management, compliance and law. Third, internal and external audit.

scholarly journals Business Priorities Driving BYOD Adoption: A Case Study of a South African Financial Services Organization

10.28945/4284 ◽  
2019 ◽  
Keyword(s):  
South African ◽  
Financial Services ◽  
Business Processes ◽  
Secondary Data ◽  
Bring Your Own Device ◽  
Future Research ◽  
Structured Interviews ◽  
Adoption Decision ◽  
Toe Framework

[This Proceedings paper was revised and published in the 2019 issue of the journal Issues in Informing Science and Information Technology, Volume 16] Aim/Purpose: Bring your own device (BYOD) provides opportunities for both the organization and employees, but the adoption of BYOD also introduces risks. This case study of an organization’s BYOD program identifies key positive and negative influences on the adoption decision. Background: The consumerization of IT introduced the BYOD phenomenon into the enterprise environment. As mobile and Internet technologies improve employees are opting to use their personal devices to access organizational systems to perform their work tasks. Such devices include smartphones, tablets and laptop computers. Methodology: This research uses a case study approach to investigate how business priorities drive the adoption of BYOD and how resulting benefits and risks are realized and managed by the organization. Primary empirical data was collected using semi-structured interviews with 15 senior employees from a large South African financial services organization. Policy documents from the organization were analyzed as secondary data. Contribution: Thematic analysis of the data revealed six major themes: improving employee mobility; improving client service and experience; creating a competitive industry advantage; improving business processes; information security risks; and management best practices. Findings: The themes were analyzed using the Technology-Organization-Environment (TOE) framework, showing the key positive and negative influences on the adoption decision. Recommendations for Practitioners: Organizations need to clearly understand the reasons they want to introduce BYOD in their organizations. The conceptual framework can be applied by practitioners in their organizations to achieve their BYOD business objectives. Recommendations for Researchers: BYOD remains an important innovation for organizations with several aspects worthy of further study. The TOE framework presents a suitable lens for analysis, but other models should also be considered. Impact on Society: The findings show that organizations can use BYOD to improve client service, gain competitive advantage, and improve their processes using their digital devices and backend systems. The BYOD trend is thus not likely to go away anytime soon. Future Research: The applicability of findings should be validated across additional contexts. Additional models should also be used.

scholarly journals Changing approaches to the methodology of comprehensive analysis of banking services in the current economic conditions

Servis plus ◽  
2017 ◽  
Vol 11 (3) ◽  
pp. 39-46
Author(s):  
Анна Костоварова ◽  
Anna Kostovarova
Keyword(s):  
Development Strategy ◽  
Financial Services ◽  
Business Processes ◽  
Business Environment ◽  
Comprehensive Analysis ◽  
Economic Conditions ◽  
Potential Cost ◽  
Organization Effectiveness ◽  
Other Information ◽  
Cost And Benefit Analysis

In the current economic conditions, banks pay attention not only to the basic functions associated with handling and increment of the capital, but also additional functions, such as financial services to individuals and legal entities. In this regard, the development strategy of banks significantly changes – it must be aimed not only at ensuring Bank liquidity, but economic sustainability, which components are efficiency and competitiveness. To develop a new strategy banks need the other information that requires a revision not only of the data collection, but also processing and synthesis, that means the methods of analysis. This urgent challenge facing the banking community is the main content of this article. The author proposes to consider the possibility of changing approaches to methodology of a comprehensive analysis of the banks. According to the author, a comprehensive analysis should include two parts: the first involves the strategic positioning of the Bank, the second is the assessment of the organization effectiveness. The first block combines analysis of the main strategic alternatives based on the identification and assessment of the influence degree of external business environment factors and business processes. The second block, in particular, assesses the resource potential; cost and benefit analysis; financial condition; quality of services and level of service. Personal contribution of the author to the improvement of comprehensive analysis techniques is clarifying composition of economic indicators to assess strategic position, competitiveness, business processes, and their interpretation.

scholarly journals Business Priorities Driving BYOD Adoption: A Case Study of a South African Financial Services Organization

10.28945/4303 ◽  
2019 ◽  
Vol 16 ◽  
pp. 165-196
Author(s):  
Jacques Ophoff ◽  
Steve Miller
Keyword(s):  
South African ◽  
Financial Services ◽  
Business Processes ◽  
Secondary Data ◽  
Bring Your Own Device ◽  
Future Research ◽  
Structured Interviews ◽  
Adoption Decision ◽  
Toe Framework

Aim/Purpose: Bring your own device (BYOD) provides opportunities for both the organization and employees, but the adoption of BYOD also introduces risks. This case study of an organization’s BYOD program identifies key positive and negative influences on the adoption decision. Background: The consumerization of IT introduced the BYOD phenomenon into the enterprise environment. As mobile and Internet technologies improve employees are opting to use their personal devices to access organizational systems to perform their work tasks. Such devices include smartphones, tablets and laptop computers. Methodology: This research uses a case study approach to investigate how business priorities drive the adoption of BYOD and how resulting benefits and risks are realized and managed by the organization. Primary empirical data was collected using semi-structured interviews with 15 senior employees from a large South African financial services organization. Policy documents from the organization were analyzed as secondary data. Contribution: Thematic analysis of the data revealed six major themes: improving employee mobility; improving client service and experience; creating a competitive industry advantage; improving business processes; information security risks; and management best practices. Findings: The themes were analyzed using the Technology-Organization-Environment (TOE) framework, showing the key positive and negative influences on the adoption decision. Recommendations for Practitioners: Organizations need to clearly understand the reasons they want to introduce BYOD in their organizations. The conceptual framework can be applied by practitioners in their organizations to achieve their BYOD business objectives. Recommendations for Researchers: BYOD remains an important innovation for organizations with several aspects worthy of further study. The TOE framework presents a suitable lens for analysis, but other models should also be considered. Impact on Society: The findings show that organizations can use BYOD to improve client service, gain competitive advantage, and improve their processes using their digital devices and backend systems. The BYOD trend is thus not likely to go away anytime soon. Future Research: The applicability of findings should be validated across additional contexts. Additional models should also be used.

Analysis of digitalization and technological development VTB Bank (PJSC)

2021 ◽  
pp. 170-178
Author(s):  
В.В. Мандрон ◽  
К.А. Суторьма
Keyword(s):  
Financial Services ◽  
Small Businesses ◽  
Business Processes ◽  
Financial Institution ◽  
Technological Development ◽  
Integrated Approach ◽  
Digital Transformation ◽  
Main Trend ◽  
Financial Industry ◽  
Global Business

Главная тенденция отраслей национальной экономики - цифровизация. Финансовая отрасль кардинально перестроила свои бизнес-процессы и стала драйвером цифрового развития. Цифровая трансформация банков осуществляется с помощью экосистем. Банковская экосистема предполагает комплексный подход к формированию инфраструктуры с помощью отдельных элементов. Цифровизация полностью переформатировала работу игроков финансового сектора и повлияла на организацию и функционирование банков, финансовые услуги и продукты. Средним банкам в период трансформации бизнес-процессов под влиянием информационных технологий сложно реагировать на запросы клиентов и конкурировать с крупными игроками финансового рынка. Наибольшую эффективность в период диджитализации бизнеса демонстрируют крупные банки, они быстрее приспосабливаются новым условиям работы и имеют большую скорость внедрения современных IT-технологий. Банк ВТБ - является одним из числа самых активных участников всех государственных программ направленных на поддержку и кредитование среднего и малого бизнеса. Финансовый институт большое внимание уделяет своей цифровой трансформации. В ходе проведенного исследования установлено, что с помощью реализации направлений в сфере цифровых технологий банк не только осуществляет обслуживание клиентов более быстро и безопасно, но и значительно снижает издержки совершенствуя свою ИТ-архитектуру. Внедрение одного искусственного интеллекта в 2020 году позволило Банку ВТБ снизить издержки в объеме 1,2 млрд. руб. (137 моделей используются в бизнес-процессах всех глобальных бизнес-линий). The main trend of the national economy sectors is digitalization. The financial industry has radically restructured its business processes and has become a driver of digital development. Digital transformation of banks is carried out with the help of ecosystems. The banking ecosystem involves an integrated approach to the formation of infrastructure with the help of individual elements. Digitalization has completely reshaped the players in the financial sector and affected the organization and functioning of banks, financial services and products. During the transformation of business processes under the influence of information technology, it is difficult for medium-sized banks to respond to customer requests and compete with major players in the financial market. Large banks demonstrate the greatest efficiency in the period of business digitalization, they adapt faster to new working conditions and have a greater speed of implementation of modern IT technologies. VTB Bank is one of the most active participants in all government programs aimed at supporting and lending to medium and small businesses. The financial institution pays great attention to its digital transformation. In the course of the study, it was found that by implementing digital technologies, the bank not only provides customer service more quickly and safely, but also significantly reduces costs by improving its IT architecture. The introduction of one artificial intelligence in 2020 allowed VTB Bank to reduce costs in the amount of 1.2 billion rubles. (137 models are used in the business processes of all global business lines).

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