Mixed feelings in investment banking: Corona drives digitalisation forward

Mixed feelings in investment banking: Corona drives digitalisation forward

Jens Lippoldt

Division Manager Sales & Business Development at valantic

Views 949

Mixed feelings in investment banking: Corona drives digitalisation forward

07.05.2020 04:15 pm

FinTech companies and banks work together on a digital future

The Corona crisis not only changes our private life but also impacts the working environment in a quote noticeable way – also for banks. These impacts influence the trend indicator in the investment banking industry. valantic, software partner of many banks, carried out a quick online poll among valantic customers. The result: bank employees rate the overall sentiment with only five out of ten possible stars. “In a very short time, processes and process chains had to be adjusted massively to this challenge. A majority of customers is now accessing our software remotely from home giving us an idea of how the cooperation between banks and companies in the FinTech software industry may look like,“ said Jens Lippoldt, Division Manager Sales & Business Development at valantic. According to more than 90 per cent of the interviewed valantic customers, impacts on support quality and application security could not be noticed. There were no differences regarding the quality and time of responses to requests compared to the regular support out of the office.

New Work in trading

New scenarios in electronic trading also include the remote use of valantic solutions for electronic trading within the legally permitted parameters. More than 90 per cent of the respondents are remotely using the software solutions for the pricing and monitoring of financial transactions. However, for a smooth usage, the customers are asking for new support models such as webinars with both professional and technical content. “We are pleased to meet those requests and prepare for more remote support instead of traditional on-site trainings. Particularly as the need for webinars is going to exist even after Corona,“ said Martin Graßhof, Head of valantic’s Support Centre. Apparently, in the financial world mainly coined by presence, there is a strong trend to accept modern ways of working – an effect that is likely to continue after the crisis.

Crises always offer opportunities

Meanwhile, the German Federal Government has also taken a step towards more digitalisation and organised the #WirvsVirus (We vs Virus) hackathon at the end of March. valantic developers also participated in this digital event aiming to contribute digital solutions developed by the community for the community. A similar event took place at the end of April: the European Commission hosted a pan-European hackathon to connect civil society, partners and investors across Europe in order to develop innovative solutions for challenges related to the Covid-19 virus. Crises always also offer opportunities – the current crisis may thus lead to major progress, socially and politically as well as with regards to current digitalisation projects in the financial industry.

Source: https://www.valantic.com/en/press/mixed-feelings-in-investment-banking-corona-drives-digitalisation-forward/

Latest blogs

Nish Kotecha Finboot and Bryan Foss, NED, Visiting Professor at Bristol Business School and member of the FRC Audit & Assurance Council

How Listed Companies Can Use Blockchain to Prevent Auditing and Reporting Malpractice and Avoid Scandal

Not too long ago, there was very little to link Wirecard, the disgraced payments platform in Aschheim, Germany, with Boohoo, the fast-fashion online retailer in Leicester, England, but both have recently been embroiled in high-profile scandals. Read more »

Leon Muis Yolt Technology Services

The Time for Financial Services to Become Truly Digital is Now

The financial services industry looks set to change dramatically over the next couple of years in response to COVID-19. The pandemic has certainly highlighted some inefficiencies and weak spots in current processes for many businesses, such as those Read more »

Granville Turner Turner Little

The Lockdown Money Revolution

Many Brits have found that lockdown has been beneficial for their money, having cut back on personal spending and managing to put away some extra cash. According to eToro, Brits with unspent discretionary income are set to accumulate £75.5bn in Read more »

Sandra Higgins Sysnet Global Solutions

Are You ‘Prescribing’ the Right Security Solution to Your Merchants?

When it comes to leading a healthy lifestyle, eating the right food, taking regular exercise, and maintaining a positive mindset are key. However, despite these best intentions and practices, you still might not get all the nutrients your body needs Read more »

Robert Flowers DivideBuy

It Doesn’t Have to Be the End – How Retailers Can Grow in Light of COVID-19

It’s no news that the retail industry has been flipped on its head by the COVID-19 pandemic. Due to the lockdown, most in-store operations have been shut down, and nationwide furloughs, reduced pay and steady streams of income at risk have fuelled a Read more »

Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel