Banking and Insurance
Meet regulatory requirements, achieve compliance and drive business growth using digitalization for stronger resilience and sustainability.
How can financial services firms address regulatory requirements, drive efficiency and create actionable insights from data?
Digital solutions from Dassault Systèmes enable financial services firms to overcome obstacles and stay ahead of the curve with a competitive edge. Learn more about our solutions below.
Proxem Studio for financial institutions
Are financial institutions getting the most out of unstructured data?
Intelligent Customer Analytics
How do financial services firms know what their customers say about them? How can they manage internal and external data to generate actionable insights?
Leading financial institutions use Dassault Systèmes’ advanced artificial intelligence (AI), natural language processing (NLP) and machine learning (ML) solutions to understand client sentiment across surveys, emails, chats, social media and complaints in over 30 native languages. They can quickly configure solutions to identify trends or look for concepts across massive amounts of textual data, including contracts, manuals, claims, newsfeeds, maintenance logs and reports.
Learn more about leveraging AI, NLP and ML to accelerate your business and get ahead of the competition.
Optimize customer insights with Proxem Studio
How can financial institutions fully understand customer sentiments?
Operational Resilience
Global regulators are converging on the need for financial services companies to achieve operational resilience, that is, to ensure that essential business services are up and running no matter what.
At Dassault Systèmes, we leverage best practices from industries such as aerospace and defense, where failure is not an option, to help banks and insurers model their operational infrastructure. An accurate virtual twin of the entire bank operating system – with all its dependencies, third parties and processes – meets regulations, enables robust testing, eases audits and reduces operational risk in application development and deployment. The ability to “see” and understand how complex operational ecosystems work drives efficiency and resilience throughout the enterprise.
How financial institutions can virtually optimize their business operations in a single secure platform
Unleash the best of your financial services with our advanced enterprise modeling solution and achieve operational resilience
Discover how virtual twins are pioneering operational resilience for future-ready financial services
OUTSCALE
OUTSCALE, a Dassault Systèmes brand, is the only sovereign and sustainable operator of Trusted Business Experience, offering trusted technological environments to companies and institutions.
Cloud Sovereignty
Organizations are increasingly adopting specific measures to meet new regulations on data security, protection and compliance. Dassault Systèmes’ OUTSCALE solution provides ISO/IEC 27001-compliant cloud systems to help you store and process customer data while meeting European Union (EU) requirements.
The SFDR is a European regulation introduced to:
- Improve transparency in the market for sustainable investment products
- Prevent greenwashing
- Increase transparency around sustainability claims made by financial market participants
- Require fund companies with environmental, social and governance (ESG) mandates to report periodically
OUTSCALE’s Innova solution automates SFDR reporting using market-leading AI and ML to ensure accurate and compliant reports are produced on time and in the correct format.
The EU Commission established the Corporate Sustainability Reporting Directive (CSRD) to compel manufacturing companies to report on sustainability regularly. The CSRD is committed to providing more visibility to investors through the European Single Access Point (ESAP) to strengthen sustainable finance and centralize publicly available information for financial services. This will help address rising costs for manufacturers seeking ESG data and enable more companies to become eligible investments for ESG portfolios by 2025.
OUTSCALE Business Experience
Support your organization with AI, accelerate and automate your activities with Business Experience for Financial Services
Investment Compliance
Decrease your operational and regulatory risks using OUTSCALE Business Experience solution for Financial Services:
- Regtech platform: regulatory activities management for custodian banks
- KID for PRIIPs: KID generation and management for PRIIPs regulation
- ESG for SFDR: ESG evaluation, preparation of reports for SFDR regulation
- Financial Doc Reader: Automatic extraction of data from financial documents
Leading investment managers and fund administrators use advanced AI and ML technology to automate the creation of regulatory reports and offering documents. Our tool can also “read” investment guidelines and regulatory requirements to automate post-trade investment compliance, saving time and eliminating the risk of errors.
Dassault Systèmes Strengthens Its Business Experience for Financial Services Offering
by Integrating the Innova Regtech Solution
Data Centers: The Greenprint for Better Energy Efficiency
Leverage the virtual twin experience to optimize all sustainable data center innovation strategies and achieve energy-efficient outcomes.
High-performance Facilities Management
Dassault Systèmes supports financial institutions to sustainably build, maintain and manage data centers and office buildings. Our solutions help optimize heating, ventilation and air conditioning (HVAC) systems while reducing power consumption and decreasing your carbon footprint. You can virtually test and simulate new configurations of servers, offices, trading floors and renovations to reduce risks, lower costs and validate prototypes for construction before you build or renovate.
Find out how to build sustainable and optimized infrastructure.
Learn more about the High Performance Data Center solution and create an Integrated Built Environment.
Banking digitization: enrich the everyday lives of your teams and customers
without sacrificing human relationships.
Business Process Management
Leverage the power of virtual twin technology embedded within the 3DEXPERIENCE® platform to easily and quickly model, execute and track your business processes. You can also benefit from tailored monitoring and reporting dashboards that provide personalized insights.
Learn how to foster collaboration across your customized business processes, enriched with comprehensive audit trails and robust management reporting.
Discover more
Dassault Systèmes defines the banking and insurance segment as:
- All types of banks (commercial, retail, investment, custodian, credit unions and building societies)
- Credit card issuers, stock exchanges and payment providers
- Organizations involved in investment, wealth and real estate management
- Professional services such as accounting
- Insurance and reinsurance companies
The financial services industry faces five primary challenges that can impact each organization. These are:
- Increasing and diverse competition
Competition amplifies the pressure on firms, fostering a landscape of increased mergers, novel product developments and innovative services. Consequently, this environment has given rise to large and intricately-woven enterprises. These firms require strategic solutions to transcend conventional business silos.
- Customer expectations and behavior
Seamless, personalized, secure and user-friendly digital transactions are becoming the new norm for every end customer. Financial services firms must prioritize the digital experience and understand what their customers’ behavior and feedback tell them about their products and services.
- Operational, regulatory and reputational risks
Banks and insurers are exposed to many uncontrollable business risks spanning market fluctuations, changing interest rates, currency volatility and geopolitical uncertainties. Therefore, there’s zero tolerance for controllable risks such as operational, regulatory and reputational risks.
Financial institutions require comprehensive solutions to minimize the error margin, whether for payments and customer onboarding or technology integration and merger and acquisition activities. They need solutions that ensure they’re meeting the regulatory requirements of all the jurisdictions in which they operate. Failing to comply with global regulations can cost a large firm hundreds of millions of dollars and damage its reputation.
Furthermore, conventional spreadsheets, checklists and emails can create audit issues and leave critical gaps. There’s a clear need for automated solutions that guarantee regulatory compliance throughout the enterprise and across the entire lifecycle of a product.
- Resilience
Managing data redundancy and security are paramount to ensure uninterrupted operations for financial firms and regulators. Within the EU, the General Data Protection Regulation (GDPR) and the imperatives of cloud sovereignty underscore the rigorous obligations surrounding data privacy and storage. Financial institutions need comprehensive solutions that seamlessly ensure resilience, privacy and security across diverse landscapes.
- Efficiency and sustainability
Automating and digitalizing processes enable financial firms to streamline costs, mitigate operational risks and elevate client experiences. Integrating automation and digitalization into workflows reduces risk exposure and facilitates more streamlined and transparent audit processes. Digitalization is vital to sustainability and the ESG factors it encompasses. This highlights the significance of digitalizing all business processes to ensure effective technology and data management across global organizations.
The top two priorities are:
- Minimizing risk
Companies are already facing a significant amount of external risks and need to be compliant with regulations. Automation, AI and digitalization are crucial to reducing operational errors and minimizing regulatory and reputational risks.
- Increasing market share and competitiveness
Banks and insurers are focused on their competitive stance and public perception, spurring an imperative for continuous innovation and steering them toward achieving sustainability and ESG objectives. This drives the need to gauge customer sentiment and outperform market dynamics by creating sought-after products and services. These firms actively seek solutions to catalyze innovation, achieve sustainability goals and gain insights into authentic customer preferences.
Financial services companies are susceptible to operational and regulatory risks. Virtual twin technology can help to address these concerns.
In the UK, new operational resilience regulations aim to protect financial services customers from threats and disruptions, requiring that crucial business services stay up and running no matter what. In Europe, the Digital Operational Resilience Act (DORA) is being approved, and other regulatory bodies around the globe have similar regulations either in force or in draft.
By mapping and modeling their operations to create a virtual twin, financial services companies gain a complete overview of their critical business services and understand their intricacies, dependencies and vulnerability to interruptions. They can also run what-if scenarios, identify overlaps and address potential weaknesses to mitigate risks and get it right the first time.
Virtual twin technology improves the energy efficiency of financial services infrastructure, including data centers and office buildings. Combined with AI and ML, virtual twins can monitor real-time events, reduce potential risks and ensure transparency — a synergy that cultivates customer trust and confidence.