The bank data centers in Denmark play a crucial role in providing IT systems to the financial sector. There are three major data centers in Denmark that develop and operate IT solutions for almost all Danish banks and savings banks. These data centers are facing an upcoming IT transformation.
One of these data centers is BEC, which provides IT services to major financial institutions such as Nykredit, Spar Nord Bank and Nationalbanken. The CEO of BEC, Jesper Nielsen, has previously stated that the biggest challenge for these data centers is phasing out old technology and embracing new technology. He said,
“In the long run, the biggest challenge for us is figuring out how we can transition to a world of new technology and at what pace we should phase out our legacy systems.”
The data centers are significant players in the financial sector that must undergo a transformation to newer technology, and for the CEO of BEC, the solution is clear.
“We will need a lot of partnerships,” says Jesper Nielsen to FinansWatch.”
Strategic partnerships are the way forward
The requirements for technology are constantly evolving New products must be continuously developed, and increased compliance must be handled. Governance is here to stay, and it will only become more cumbersome and extensive to handle the increasing requirements for anti-money laundering.
“The time has come for established financial actors to enter into new partnerships. This ensures that the new digital front-runners in the financial sector are taken care of,” says Christoffer Nielsen, marketing manager for Bank & Finance at Nobly.
He points out that BEC is right to prioritize solutions that are already available by entering into strategic partnerships with specialists in each area.
“There is still a long way to go, and it’s an enormous transformation from old technology to new technology that must be divided into several phases. The data centers have also realized that they don’t necessarily have to be experts on everything,” says Christoffer Nielsen.
This point is emphasized in a current report from the international consulting firm McKinsey. In the report “Reshaping retail banks: Enhancing banking for the next digital age”, it is highlighted among other things that in the future banks must develop digital platforms that support the entire value chain in the bank. Banks must also develop an extensive data infrastructure and digital marketing engine that offers personalized messages that predict individual customer needs.
Smooth processes save resources
At Nobly, they naturally want to make their skills and services available to data centers. By entering a strategic partnership with Nobly, it will be possible, for example, to streamline processes related to credit scoring and effective and personal customer communication.
“Basically, it’s about having access to the right data and customer information to ensure a fully transparent picture. In this way, we can ensure a quick and efficient process that meets compliance requirements such as anti-money laundering, GDPR and focuses on the customer experience,” says Christoffer Nielsen.
Nobly is one of Europe’s leading consultancies on the OnBase platform from American Hyland, which has been rated by Gartner Group as the best Content Service solution on the market. Hyland has over 30 years in the market and more than 2,000 customers in the financial sector globally. According to Christoffer Nielsen, the platform can be scaled up so that a data center can use the platform centrally and distribute the solutions to banks.
“We can automate many resource-intensive workflows where the organization may have previously solved the work manually, spent valuable time re-entering customer information that already exists at the bank, missed an obvious opportunity for upselling to potential customers, but instead does not experience any proactive behavior. We push our customers’ use of new technology forward – every day,” says Christoffer Nielsen.
Nobly is an IT and consulting company founded in 2011, which makes complex workflows simple by focusing on efficiency and bottom line. In the financial sector, Nobly serves large Nordic financial companies.