OpenText are excited to be attending the Sibos 2016 conference in Geneva. We are looking forward to networking with financial professionals like yourself. Book a meeting with us and discuss how we can help you operate with operational excellence, overcome the challenges of implementation, digitize your transaction services and return your focus to servicing your clients.
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We are looking forward to joining you at Sibos 2016!

Want to talk about all things Financial with us?  Pre-schedule a meeting with us in Geneva.
About OpenText

OpenText helps more than 250 financial services firms and 55,000 Corporates and SMBs meet unique client requirements, mitigate operational risk, and expand into new geographies with 600,000 Counterparties. OpenText reduces not only the cost and complexity of client delivery, but also helps accelerate speed-to-market and time-to-revenue by up to 45%.

Innovation, disruption and regulation. Just as complex and costly, but now even faster.
The rate of change is accelerating, bank products are forced to significantly change every three years in average, as opposed to every seven years up until 2012. Regulation all over the world is throwing a number or curved balls with a heavy toll in terms of innovation budget, profit margins and differentiation. There isn’t enough time and capacity to be everything to everyone.

More breathing space for innovation!
Blockchain technology, real-time payments, client self-service, API integration, PSD2 and many other themes can’t be all adopted and fold into the Bank’s value proposition without making room for it. There is the cost and the lifecycle of everything else running today, which leaves a small headroom to bring innovation and increased business outcomes.

Providing Financial Institutions with more breathing space is top on our agenda for 2016 onwards, with a focus on digital channels and client and counterparty on-boarding. What we deliver to Banks is a way to simplify, consolidate and accelerate the digitization of their core business.

What does it mean, concretely?
One way to set out a growth strategy is to essentially separate the Banks’ products and services from the way clients and counterparty consume them; simplify and ring-fence products and processes for leaner P&L. For Payments & Cash Management, Securities and Trade Finance, this means shield the mid and back-office core processes and systems from the front office and channels.

How can this be achieved with OpenText?
From a technology perspective, success starts with looking at your Digital Channels for Corporates, FIs and Counterparties, are you leveraging your channel technology in the best way to “shield” your products and services?
  • Ring-fence the Bank products (payments & cash management, trade finance,  securities) with a smart Channel
  • Keep the Bank product P&L lean and use the Channel as the “client bespoke elements” layer, with more room for innovation and differentiation on the Bank’s core competency
  • Provide visibility across all payment types, asset classes and business flows
From a client on-boarding and “experience” perspective, we need to eliminate uncertainty and accelerate, digitize and automate the way Financial Institutions engage with their clients over time during the course of their business:
  • Report, analyse and comply in real time against regulatory requirements, based on an accurate client inventory
  • Package and govern changing on-boarding activities through market disruptions, including PSD2, LEIs, T2S, KYC and more
  • Automate and reduce manual effort around reference data management, client self-service, readiness testing, BAU community management
  • Pro-actively monetize client needs and deploy a consistent cross-product experience
  • Increase clients’ Net Promoter Score, keep them engaged and access/protect more share of their wallet
Meet the team
Mach Flinn, Jerome Tillier and Brian Leibforth are our Financial Services experts, who work daily with Financial Institutions on these topics. Feel free to request a meeting with them or drop by our booth location G69. They would also be very happy to facilitate introductions to Banks who are leveraging OpenText’ Business Network.

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Meet OpenText and SAP at Sibos for Oktoberfest on September 28 at 3:30, booth F56 (SAP booth)

OpenText is proud to co-sponsor with SAP their traditional and popular Oktoberfest event at the SAP booth, # F56, on Wednesday, September 28 at 3:30 in the Exhibition Hall.  Beer, bratwurst and pretzels will be served.  We invite you to join us at this fun event.  Relax and enjoy the flavors and fun of SAP’s international heritage.  This is a great chance to meet the SAP and OpenText Financial Services teams from EMEA and North America.
 
OpenText and SAP have over 23 years of co-innovation.  OpenText is pleased to be recognized as a “SAP Pinnacle Awards 2016” winner – our 9th consecutive year winning this award – in the category Application Innovation Partner of the Year. This category recognizes partners that extend solution offerings, drive shareholder value, create new and innovative business models, accelerate the impact of technology investments and help customers transform their business to run simple.