Research

COVID-19: Effects on the Financial Services and Insurance sectors

A COVID-19 impact analysis data-driven report on the Financial Services segments
Updated as at 18 May 2020

COVID-19 Effects on the Financial Services and Insurance sectors 0

Offering

Service

Craft The Right Financial Services Strategy

Financial Institutions are facing a great number of challenges to be tackled at the same time. They have to operate with a new wave of regulations to strengthen their balance sheet structure, to beat the burden of a negative credit cycle and to deeply rethink their ‘go to market’ model.

All this goes together with the Digital Transformation and the new Customer’s behaviors and needs.

Reply offers a 360 degrees of support in mission critical areas where relevant innovation is a must. Reply approach is made of management consulting services and functional know-how with deep knowledge of software solutions and strong system integration capabilities.​​​​​

Main areas of expertise:
• Wealth management
• Multichannel models and solutions
• Mobile Payments
• Cyber Security
• Retail credit
• Government Risk Control service

MARKET SURVEY

Capital Market Survey

Which are the opportunities offered by technological innovation to address financial institutions’ main business and regulatory needs? For this purpose, Reply is running a survey that will inestigate: Trading, Treasury, Collateral Management, Risk Management, Investment Strategies, Fund Management and Portfolio Management.

GO TO THE SURVEY

Cloud in Financial Services

Reply has embarked on a 'Cloud in Financial Services' initiative, through webinars, thought leadership piece and a flagship event to shed light on the benefits and challenges that underpin cloud adoption. Aimed at C-Suite and Board Members, it focuses on strategic considerations covering all aspects of Cloud adoption in Financial Services.

Cloud in Financial Services 0

Marco Loro

Article

A new way to manage payments through smart objects

It will no longer be the consumer to initiate a payment using digital devices, but the object that will understand the context and pay for the service, then deliver it directly. Pay Reply, with a team of payment architects, is designing and planning digital payment solutions in which it is no longer people who do the buying, but “smart” objects.

Human machine interfaces

Best Practice

Assessing car damage with the use of Image Recognition

Data Reply has developed a framework based on Deep Learning techniques, Data Mining and Natural Language Processing capable of classifying input data, such as the photos taken by appraisers and the repair data recorded by car repair shops.

Business Impact

Article

The EBA launched a public consultation on ITS

The amendments aim to keep reporting requirements consistent with changes in the regulatory framework and with the evolving needs for risk assessments. The EBA expects to submit the revised draft Implementing Technical Standards to the European Commission in April 2019. The application of the revised requirements will be in March 2018, with the first reporting reference date as of 31 March 2020.

NPL

Research

Npl Management: focus on market, main players and servicers offer

Regulator pressure forced banks to improve internal management and to aim to strong de-risking policies, by managing to halve NPL volumes in 5 years. Foreign and non-foreign investors have paid particular attention to Italy for the high levels of impaired loans and for the business opportunities encountered.

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Financial Platform

Site

DEFINIO REPLY™

Definio Reply™ is an integrated platform capable of addressing the needs of management, analysis, reporting and logging of financial assets. The target customers of the Definio Reply™ solution have as their objective the active management and monitoring of financial portfolios.​

The integration of the financial database with the asset database makes Definio Reply™ a viable and complete alternative to vertical portals. ​

​GO TO THE WEBSITE

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DIGITAL BRANDING

Case Study

XME Dindi Intesa Sanpaolo

The new electronic piggy bank to teach children the value of money and savings. In the educational toy culture, XME dindi offers a game-based experience to actively inspire children’s education. Three Reply Group companies partnered with Quercetti, a leading manufacturer of Made in Turin educational toys, to design XME dindi.

XME Dindi Intesa Sanpaolo 0

Digital Touchpoints

Research

Insurance And Digital Channels - Where Are We?

Physical networks represent the reference channel for the insurance industry. However, digital channels are an integral and complementary part of the customer experience. e*finance consulting Reply provides a comprehensive view of the current situation, monitoring the public channels used by 21 insurance companies, from the traditional to the bancassurance and the direct insurance sector.

Insurance And Digital Channels - Where Are We? 0

Covid-19

White Paper

The New Normal: how Capital Markets can turn the Coronavirus threat into an opportunity

This unexpected crisis raises questions about the effectiveness and agility of banking models and existing risk management frameworks.

DOWNLOAD WHITE PAPER NOW

Business Impact

Article

A Fintech Roadmap: next steps

Around 100 participants were present at EBA FinTech regulation and EBA roundtable meeting, during which were identified six areas for further analysis. These priority topics will leverage knowledge and expertise from participants in the EBA’s new FinTech Knowledge Hub, thus working on comparative assessment with a view to identify best practices.

Crowdfunding

Best Practice

Crowdfunding: is it the right time for banks?

On an almost daily basis the press talk of diverse projects funded by participatory finance. Everyone finds their niche whether it be the "contributor" who is involved in the output of a project and receives a reward or "the project leader" who finances and publicises it, or the "platform" itself which receives commission for services provided by bringing together the contributors and project sponsors.

Crowdfunding is it the right time for banks? 0

Mobile Payments

Case Study

Left cash at 比特币交易价格行情home? No problem!

The latest scenario developed by Reply that Banca Sella has chosen to extend its mobile-payments services by taking forward the experimental innovations begun with Up Mobile, is mobile POS. This acquiring solution exploits synergies between a smartphone or tablet and a PIN pad – a simple device that can read traditional payment cards.

Left cash at 比特币交易价格行情home? No problem! 0

Roberto Tognoni

Article

ROBO-ADVISORS, MORE THAN YOU EXPECT

Two years ago the asset gathering and investment service industry seemed to be on the brink of a possible disruption by new digital players. But is it for real? Let’s just stop for a moment and look at where we are now.

Business Impact

Article

Discover agility, be the change

Companies feel it’s time to move to new working paradigms, in order to achieve higher level of effectiveness in processes and results. But they are struggling in finding the right way, in terms of approach and scope of change. Here’s how to proceed.

CRM and BI for Banks

Case Study

DAB Bank focuses on optimization in the CRM and BI upgrade

Especially in banking, BI solutions are important management tools that enable decision making and the preparation of marketing campaigns based on facts. DAB Bank chose Riverland Reply for upgrading Siebel Customer Relationship Management (Siebel CRM) 8.1.1.7 with Computer Telephony Integration (CTI) as well as to integrate Oracle Business Intelligence 11g (OBI).

DAB Bank focuses on optimization in the CRM and BI upgrade 0

Regulate Accident Cases via iPhone App

The direct automobile insurer Direct Line offers motorists a iPhone App, which in the event of an accident, enables them to quickly forward all important information to their insurer without complications and to search for a repair shop.

Regulate Accident Cases via iPhone App 0

01.11.2018 / Amsterdam

Event

Brexit Lunch

Avantage Reply is partnering with the Dutch Foreign Banker’s Association to discuss the impact of Brexit on Financial Services

Innovation Payments

Research

European millennials and their relationship with payment systems

A European study carried out by Reply investigates the habits of millennials with regard to their use of today’s payment systems and possible changes over the coming years.

European millennials and their relationship with payment systems 0

Case Study

Liquidity Risk Management Capability Diagnostic

The client was seeking an evaluation of its liquidity risk management capability in terms of the business being supported. Avantage Reply undertook a detailed review and provided recommendations for best practice liquidity risk management, which formed the basis of the client’s subsequent implementation programme.

Real Estate

Case Study

Oracle Planning and Budgeting Cloud Service: from Excel files to a software-as-a-service

DeA Capital Real Estate SGR has chosen Oracle Planning and Budgeting Cloud Service to speed up and automate the processes, making this transition with the Platinum Partner Oracle, Reply Consulting.

Financial Services

Case Study

The Banca Mediolanum case: Data Analytics Laboratory and implementation of a Recommendation Engine

With the aim of experimenting with an Advanced Analytics approach, the Data Analytics laboratory initiative launched by Banca Mediolanum involves a partnership between the Marketing Research team and Reply for the development of advanced data analysis mechanisms and the design of proactive services, tailored to the customer’s needs.

Digital transformation

Case Study

WM Reply support digital transformation at a global bank

An international bank aimed to restructure their internal information architecture to facilitate access to relevant up-to-date information for their employees across the company. WM Reply supported the organisation by consolidating different sources of information into one central hub providing a unique user experience.

PSD2

White Paper

Payment Services Directive 2 (PSD2)

On November 25, 2015 the European Parliament and the Council of the European Union issued the PSD2 (Revised Payment Services Directive). Reply partners with Banks to help them capitalise on the opportunities offered by the PSD2 and is able to offer several business opportunities that can be integrated as part of sustainable use cases.

Data Modelling

Best Practice

Internal Data Modelling for the Insurance Industry

Insurers need to quickly understand their business and interpret data to foster innovation, reduce operational costs and provide a platform appropriate for accurate and fast assessment of risk / innovative pricing, for compliance and to leverage new sales channels.

CRM for Stock Exchange

Case Study

Best Customer Service

Syskoplan Reply developed a consistent Customer Relationship Management solution for Deutsche Börse. SAP CRM standard software was refined to create a solution specially tailored to the needs of Deutsche Börse that optimally supports the business processes for the specialised areas.

Best Customer Service 0

23.05.2017 / Fintech Innovation

News & Communication

Open Reply supports ABBL's Digital Banking and FinTech Innovation Cluster

Open Reply is honoured to have been chosen as a partner to support ABBL's Digital Banking and FinTech Innovation Cluster in developing and delivering a series of 40 workshops on FinTech topics.

22.05.2017 / Cryptoeuro

News & Communication

The future of digital currencies

Reply promotes joint research on the future of digital currencies based on Blockchain technology. The research, referred to as Cryptoeuro, is promoted by Reply in collaboration with the Blockchain & Distributed Ledger Working Group of the Digital Innovation Observatories of the Polytechnic University of Milan and the participation of the Associazione Italiana Istituti di Pagamento e di Moneta Elettronica (AIIP - Italian Association of Payment and Electronic Currency Institutes).

26.01.2017 / Milano

Event

Bank 3.0: the opportunities of PSD2

eFinance Consulting Reply, Pay Reply, Blue Reply and Orrick host the event Bank 3.0: the opportunities of PSD2. The event is focused on the opportunities of the PSD2 Directive, which implementation in Italy is expected to enter into force in January 2018.

Fideuram Investimenti

Case Study

Software architecture for Fideuram investments: support for business intelligence

In addition to the excellent technological support provided within the scope of project and architecture development, the experience gained by Technology Reply in recent years has also allowed the company to offer a functional support service covering Fideuram Investimenti’s main areas of application, thereby minimising the delivery times associated with the development of new financial products.

Fintech innovation: staying on the fringes or is it time for it to became core?

In the face of an ever rising digital agenda in Europe, banks are jumping on the fintech bandwagon, hoping to jumpstart innovation. Technology stands today as a catalyst for change in established banking institutions, write Astrid Fr​oidure, Open Reply, and Fausto Jori, e*f​inance consulting Reply​.

Millennials

Best Practice

Ambition for disruption: how the Millennials are changing the banking sector

Three connected forces drive the need for change in the Banking sector: technology, competition and behaviours. For this reason, banks need to define their road to innovation.

CRM for Finance

Case Study

"Enabling the order flow" at DEUTSCHE Börse

Implementation of marketing campaign management and stock exchange specific business partner structures; significant involvement in coordinating development and in realizing functional extensions and system integration have been realised by Reply.

Insurechain 0

Insurechain

Insurances: over the years, complexity and costs related to the management of insurance processes have undermined the profitability of companies and inhibited the distribution of innovative insurance products. A platform was developed which, by integrating with the Ethereum Blockchain, facilitates the setting and enforcement of smart contracts for travel insurance. Insurechain is a solution that facilitates the automation of premium calculations, the management of appraisals and the settlement of certain types of claims, ensuring end-user transparency.

07.04.2016 - 08.04.2016 / Rome

Event

Dimensione Cliente 2016

Reply takes part in Dimensione Cliente, the ABI institutional event on Retail dedicated to the relationship between the Bank and the Retail Customer, now in its tenth edition. Reply holds the speech "Millenials and Banks: “disintermediation” risk or incentive to innovate the sector?".

Blockchain: Transforming correspondent banking

Blockchain technology’s potential in changing the banking processes has created a dilemma for financial institutions uncertain of how best to use the exciting new technology. The article is focusing on the aspects that will be positively affected by the adoption of the Blockchain technology. The feature displays the voice of the most prominent experts of the field, including Fausto Jori, Partner at e*finance consulting Reply​.​

Digital Transformation

Research

Trends in the US wealth management market

The US wealth management industry is undergoing significant transformation, meeting its challenges by leveraging technology. Financial advisory services are evolving from a traditional personal relationship approach to one of automation, emphasizing lower costs. New entrants are disrupting the market with innovative products and services, and established participants are adapting to the changes or losingmarket share. Assets are growing while the number of human financial advisors is shrinking. New operating models include discount and online brokerages and robo-advisors.​

07.11.2015 - 08.11.2015 / Milan

Event

Appathon 2015

Reply supports UniCredit for Appathon 2015, a 24 hour hackathon dedicated to App Developer, a Web Designer or a Marketing Specialist with the aim of developing a mobile app for financial services. The event is held on November 7th-8th, 2015 at the UniCredit Pavilion in Milan.

Digital Transformation

Case Study

Helvetia Austria: more productivity through digitization

The Austrian Helvetia Versicherungen AG has extensively digitized their case processes. Whether by post, fax or e–mail - the upstream post scanning, electronic files and mailboxes enable identical processing regardless of media. The transformation was completed in a two-year project based on the Macros eWorkplace software. The special procedure followed by Helvetia for tendering and implementation is to be regarded as best practice.

Cross-sector lessons

Best Practice

How Retail is inspiring the banking sector

When consumers think of dealing with their bank, the image of an insightful and efficient experience doesn’t necessarily spring to mind. Banking is more of a necessity than a chosen pastime!

29.09.2015 / Milan

Event

Forum Banca 2015

Iriscube Reply and e*finance consulting Reply join the 8th edition of Forum Banca 2015 which take place in Milan on 29th September 2015. The conference is an important reference point for technological innovation and process optimisation within the financial and banking sectors.

Practice note

White Paper

EU Financial Services Outlook 2015

Over the next 12 months the transformation of the financial services industry is set to continue to accelerate. This paper sets out our view on some of the key challenges for firms in 2015 across three key areas: Regulatory Change; Digital Transformation; Business Optimisation.

Multi-channel Banking

Video Reference

BNP Paribas Fortis launches new iPad app with Reply

BNP Paribas Fortis chose Reply to develop a new iPad app for its sales network, that financial advisors can use during sales conversations with their customers.

Practice note

Best Practice

Senior Managers Regime (SMR)

Due to a perception of endemic behavioural and cultural problems within the banking industry and repeated failings of current legislation to address these failings, a new Senior Managers Regime (SMR) is being introduced, with binding rules to be released in early 2015. The new rules will specifically address the perceived problem of accountability where an individual had greater scope to shirk responsibility. The lines of responsibility will now be much clearer, by removing ambiguity and confusion. There will also be much harsher penalties for non-compliance.

Mobile Payments

Best Practice

Embracing the Bitcoin: why mobile operators should prepare for the digital currency shift

This white paper outlines the opportunity at a high level for mobile operators to innovate new services, increase revenues and develop new business lines based on Bitcoin and other key Digital Currencies currently available.