Synergistic Cooperation: Dominating Digital Darwinism

Multiplying the benefits for customers by pooling resources and skills, both in Italy and internationally

Note: This article originally appeared on VisiFI parent company Dedagroup’s blog.

These days it seems the financial environment is where the speed of change and the number of opportunities triggered by technological disruptions and new regulations require the greatest ability to embrace transformations quickly.

In particular, consumer behavior and the opportunities offered by technology are evolving very rapidly. As a result, all organizations must compete in a changing environment, and those unable to grasp digital change suffer or disappear. That is today’s digital Darwinism.

Financial institutions worldwide are experiencing great uncertainty about how to close this gap. According to Capgemini’s World Retail Banking Report 2021, when it comes to enriching their customers’ digital experience, 42% of banking executives do not know how to effectively integrate front-, mid-, and back-office functions. In addition, 46% struggle to understand how to deal with open banking or become a data-driven organization.

At the same time, besides the risks or difficulties just mentioned, the changes underway can also open new opportunities never imagined before.

Evolving digitally to thrive in or survive the future

Those, like Dedagroup, who assist companies and public organizations on their path toward the digital transition know that although uncertainties are entirely understandable, they must not paralyze. Banks can evolve and transform to operate and serve their customers in a new way.

Seizing these opportunities with the right approach and skill set is what we are passionate about and dedicate ourselves to daily.

Our aggregation hub’s dynamic organization

To fit the challenges of digital Darwinism, we created the Dedagroup hub.

The hub is composed of different Dedagroup companies and business areas. It can reshuffle its components differently from time to time to assemble only the most functional parts for the type of digital evolution our customers require.

Our competitive capacity is therefore also generated by the recombination and virtuous collaboration between those involved.

That is the business model we have set up: an organization that is both transversal and vertical and permeates each of the sectors in which the Group operates — from Public Services and Digital business to the Cloud.

We build greater value by aggregating different highly specialized entities and combining strong industry skills — both regulatory and market-based — with other hard skills, such as services and technologies.

Aggregation makes the whole greater than the sum of its parts

In every project, Dedagroup gathers teams around a table that combines the individual skills required, such as security, data management, and artificial intelligence expertise. The working groups are therefore transversal but consist of verticalizations, that is, niche specializations in specific areas.

Therefore, Dedagroup is an aggregation hub of excellent skills that multiplies the value of the individual entities through synergistic cooperation.

This process creates something greater than the sum of its parts. It creates company networks that remain agile and strengthen themselves by gathering with other Group companies.

User experience, cybersecurity, and artificial intelligence: the new synergies for credit unions

A case that illustrates how the aggregation hub operates concerns our solutions for the international market dedicated to US credit unions.

VisiFI, the Dedagroup company operating in the United States, offers credit unions a complete suite of proprietary solutions to support their business and operations. Today, the digital banking service is one of its most appreciated services and is also the field in which it started several collaborations with other Group companies in different areas: with Deda Digital, we worked on an in-depth review of the user experience; with Deda Cloud, we guarantee a 24/7 application and infrastructure security service to all our credit unions. On the artificial intelligence front, we are working with ORS to offer credit unions an easy way to access AI and integrate it into digital banking, helping them use data to build increasingly personalized services.

Cooperation is key to a more sustainable future

This synergy enriches VisiFI’s skills. Indeed, the company was already operating in the core banking field and has recently invested heavily in digital banking, precisely to allow credit unions to reach members through the branch and via mobile, to create a smooth journey between physical and digital.

A concrete example of this approach is the project carried out by VisiFI with Stepping Stones Community Federal Credit Union. During the Covid pandemic, this credit union needed to be able to offer its services to people even during lockdowns, reaching them in the streets of the community: to achieve this, we helped them convert a van into a real on-the-go branch.

Thanks to its international scope, we are an aggregation hub that guarantees broad skills, a global vision, and an ability to innovate quickly on both sides of the Atlantic.

And we allow companies, public organizations, and financial institutions not only to evolve but to do so using digital to make a positive social impact on the community.

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Marcello De Angelis

General Manager International Business Dedagroup