2. Hendrik, what is your vision for the future of Finnova and Contovista?
Hendrik: Finnova and Contovista share the firm conviction that data is becoming increasingly important – whether in the areas of fraud, compliance, upselling, security or data-driven banking. We have now established a team of almost 50 employees who bring a great deal of expertise and experience in data-driven banking. We have extensive know-how in various disciplines such as data science, UX, frontend development and backend integration. This puts us in an incredibly strong position in the Swiss market.
However, we would now like to develop this area even further. Our priority is to expand our portfolio with numerous product innovations while also acquiring new customers in Germany and abroad. In serving our customers, we want to place particular emphasis on personal relationships so that we can respond to needs in a very targeted manner.
All in all, data-driven banking will be a crucial pillar for us in the future. All the more so because all products and solutions from this area can be used independently of the core banking system. This means that they can be scaled more extensively – a massive benefit from the point of view of Finnova/Contovista, as well as for the community.
3. Olivier, how do you see it? What can customers look forward to now and in the future?
Olivier: One thing is crystal clear: our customers can continue to expect innovative solutions from Contovista. We are continuously investing in data-driven banking and now have even more resources for this. The shared products of Finnova and Contovista are being strengthened, and development is in full swing. Together we want to use our combined strength to continue working on a forward-looking, data-driven banking ecosystem for Switzerland.
4. A question about integration and collaboration: Oliver, how is that going for you and the Contovista team? Have you noticed any synergies yet?
Olivier: Yes! Synergies are very noticeable, especially at a product level. Many of our products complement each other really well, e.g. the Finnova Analytical Framework and the Contovista Enrichment Engine (EE). The Personal Finance Manager (PFM) enriches e-banking. Integration at an employee level also has many advantages: the Contovista team benefits from Finnova’s experience while being able to maintain its own traits and values. And of course, Finnova also benefits from our strengths and knowledge!
Cross-team communication has been established and cooperation strengthened. And there are already some new colleagues from the Finnova headquarters in Lenzburg working for us in Schlieren, and vice versa.
5. Hendrik and Olivier, let’s talk in a little more detail about the benefits for customers. What is currently their biggest challenge, and how do they benefit from this merger?
Hendrik: The topic of data is becoming increasingly decisive for banks. We are currently observing that the Finnova Analytical Framework is being widely used for compliance and risk issues. There is obviously a great need for effective tools here. If I as a bank want to identify money laundering in an automated way or have to detect misuse early on, then I need tools that enable me to do this efficiently due to the sheer volume of data. This topic is of paramount importance, but it causes little joy for banks. This makes the support provided by our technology all the more valuable.
Banks take more pleasure in customer insights and customer experience than in addressing risks and complying with regulations. In these areas, too, we offer innovative solutions with the Contovista products and the Finnova Analytical Framework. On the one hand, banks can offer their customers a superior experience and personalised support with our Personal Finance Manager (PFM) and Business Finance Manager (BFM) products. This strengthens customer loyalty and boosts customer satisfaction. On the other hand, the Enrichment Engine and the Finnova Analytical Framework can provide customer advisors with insights into customer behaviour, enabling them to provide better, more personalised advice. They can offer targeted banking products that generate added value to individual customers.
With data-driven banking, we already offer a wide range of products that benefit banks and their customers in a variety of ways. Together we will now further optimise and expand this portfolio. The improved integration of Contovista products and the Finnova Analytical Framework FAF alone offers considerable synergies and potential for customers.
And last but not least, the larger our shared customer base, the more data we can evaluate within our community. This increases the value of the solutions as well as generating extra added value for our customers.
Olivier: Generally speaking, our customers have to adapt to the evolved expectations and requirements of end customers and reinvent themselves as an organisation. This also applies to the vital issue of sustainability. Our products facilitate personal relationships with customers, enabling us to tailor offers accordingly. For example, this summer we launched the Carbon Footprint Manager, which automatically estimates the carbon footprint of purchases.