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MENDIX SUPPLIES RABOBANK WITH LOW-CODE PLATFORM TO BUILD NEW CORE ONLINE BANKING APPLICATION

New online portal leverages low-code’s speed and flexibility

 

Mendix, a Siemens business and the global leader in low-code and no-code application development for the enterprise, today announced that it has supplied Rabobank, a leading international cooperative bank headquartered in the Netherlands, with its low-code platform to build a new online-only banking portal called RaboDirect. The portal manages customer-facing and back-office transactions for Belgium- and German-based customers. By providing the low-code platform to create the RaboDirect portal, Mendix has helped to reduce IT costs by 50% and attributed to delivering a seamless digital customer experience.

 

“Across the financial industry, system updates required by regulatory compliance are often prioritized before improving the customer experience,” says Bram Voogel, customer success director at Mendix. “For any bank operating in this market it’s a competitive advantage to be able to prioritize customer attraction and retention with new online capabilities for its products. Mendix’s low-code platform turned out to be the perfect fit to help achieve this objective.”

 

A platform that empowers coding professionals and business developers

Systems of competitive differentiation, which have a direct impact on the customer experience, were brought in-house. Mendix’s low-code platform was used to rebuild the bank’s online channel, enabling the IT division to weekly release cycles. The ability of IT coding professionals to collaborate with small teams of nontechnical business developers using Mendix’s drop and drag functionality enabled this close alignment with business objectives and customer needs.

 

“It’s a significant milestone that the division’s IT department is able to work in short sprints in the application development process. It was rewarding to see developers and business professionals working very closely together with the Mendix platform to create satisfying products for Rabobank’s customers in Germany and Belgium,” adds Hans de Visser, vice president of product management at Mendix.

 

Mendix’s collaborative approach enabled business experts and professional coders to quickly scale application development. Seeing big savings and fast results from empowered, energized teamwork at Rabobank is a clear demonstration of what the term ‘digital transformation’ means in practice and how Mendix can attribute to this.

 

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BATTLEFACE RECEIVES INVESTMENT FROM FINTECH VENTURES FUND

battleface Inc., a rapidly growing tech-enabled insurance startup focused on providing travel insurance products for unconventional travellers worldwide, announced today that it successfully closed its seed financing round with backing from leading strategic and venture capital investors.

 

Atlanta, Georgia-based Fintech Ventures Fund has invested in the company, joining existing investors Greenlight Re and Tangiers Group. This investment will be used to expand software development, hire sales and business development personnel, and further the company’s global reach.

 

Sasha Gainullin

battleface is led by a team of travel insurance experts. CEO Sasha Gainullin previously developed global operations for AIG Travel Guard and has worked with battleface since its inception. Managing Director Paul Simmonds brings experience as a Lloyd’s of London underwriter with previous leadership roles at Berkley Syndicate, CNA Hardy, Brit, and Goshawk.

 

“We got our start because many travellers couldn’t find the right insurance products with coverage for their unique travel destinations and real needs,” said Gainullin. “With the latest investment from Fintech Ventures Fund, we’ll continue to expand our B2B partnerships custom-building travel insurance solutions for groups, including business and NGO travellers, associations and membership-based organisations.”

 

battleface combines innovative technology and underwriting to create, distribute and service specialty travel insurance products for people in both retail and wholesale. Products are supported by a network of 24/7 assistance coordinators, medical providers and on-the-ground field agents who provide emergency claims, medical and travel assistance services on a global basis.

 

Fintech Ventures Partner Lucas Timberlake said: “A core area of our fund’s investment thesis is that technology can be leveraged to more efficiently provide insurance products to markets that have been underserved by current offerings. We believe that battleface’s seasoned management team will create an industry leader in the travel insurance space. It is for these reasons that we are excited support the company’s future growth.”

 

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VANQUIS BANK PARTNERS WITH HOOYUTO DIGITALISE KYC PROCESSES

HooYu KYC digital journey deployed during the customer lifecycle on a risk-based approach

 

Leading customer onboarding and KYC technology firm, HooYu, has announced a partnership to digitalise Vanquis Bank’s KYC processes.  The HooYu KYC journey has been selected to provide additional identity proofing during the customer lifecycle when customers perform a potentially high-risk action on their accounts.

 

Vanquis Bank is part of the Provident Financial Group, a UK and Ireland business with over 140 years’ experience in lending to consumers who are not well served by mainstream lenders. With millions of customers, Vanquis needed to find a way to help balance fraud prevention and KYC with a great customer experience.

 

Existing customers calling in to the change the details on their account were in some cases having to wait weeks before the change could be approved.   The team at Vanquis Bank is continually looking to improve how their products work for their customers and that they are easy to apply for and manage.  Vanquis Bank decided to implement an ID document validation solution that would speed up customer lifecycle management and improve the customer experience.

 

Sue Singleton, Process Change Assurance Manager at Vanquis Bank said, “By adding HooYu to our KYC tools, we can improve some of our higher risk customer processes and can now facilitate customer requests without asking the customer to post in copies of documentation. Our agents deal with thousands of customers a day and now what could have been a delay of weeks for our customers, can be achieved in a matter of minutes with HooYu”.

 

David Pope, Marketing Director at HooYu said, “It’s been great to see the results of Vanquis implementing the HooYu digital journey and how the HooYu UI and UX tools are helping their customers though the KYC process.”  

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