This book, one of three volumes, showcases the effective transformation of companies providing banking and insurance services. This first volume gives a business-oriented introduction to the setting and the current challenges of fintech, regtech, and insurtech and provides an outlook on what will be needed in the future. Specific sub-departments in financial services are examined with a view to accounting, risk, and regulatory segments. The book also addresses the importance of cultural aspects of the coming digital transformation with an eye to requirements that will enable a digital bank or insurance company to thrive in 2025. The angle shifts over the volumes from a business-driven approach in “Disruption and DNA” to a strong technical focus in “Data Storage, Processing and Analysis”, leaving “Digitalization and Machine Learning Applications” with the business and technical aspects in-between.
Part I. Market View.
Chapter
1. Digitalization Landscape Banking.-
Chapter
2. Digitalization Strategy.
Chapter
3. The Knab Story: How We Turned
the Bank Around.- Part II. Accounting/Controlling.
Chapter
4. The Need for
Resilience and Agility in Finance.
Chapter
5. Value-Driver-Oriented Planning
Management-Oriented Design and Value Driver Identification.
Chapter
6. AI
for Impairment Accounting.- Part III. Risk Management.
Chapter
7. Financial
Navigator A Modern Approach to Analytical Banking.
Chapter
8. Actuarial
Data Science.
Chapter
9. BSDS Balance Sheet Dynamics Simulator
(Application ABM).
Chapter
10. Breaking New Grounds in Non-Financial Risk
Management.- Part IV. Culture and Projects.
Chapter
11. Digi-Cultural
Mindset.
Chapter
12. New Project Structure Agile & Scrum.
Chapter
13.
Hybrid Project Management.
Chapter
14. Remote Projects.
Chapter
15. Project
Management and RPA.- Part V. Summary.
Volker Liermann, Partner at ifb group, worked in the banking industry for over two decades, primarily focusing on financial risk management. Throughout his career, he has focused on developing integrated and comprehensive frameworks to help organizations correctly project risk at a strategic and tactical line of business and departmental level. He has also focused on developing frameworks to integrate stress testing and regulatory stress tests. In recent years, his focus has shifted to digitalization, machine learning and digital processes including improvements to classical financial and non-financial risk management. He has a background in economics and a degree in mathematics from the University of Bonn.
Claus Stegmann has as Co-CEO of ifb group an international consulting firm acquired extensive know-how over the last three decades in the financial industry regarding finance transformation, risk management and regulatory compliance.He is intensively engaged with the current challenges of the financial industry, which result from strong changes to customer behavior, a changing competitive environment and new technologies due to digitalization. He has also co-authored books on Stress Tests in Banks, Basel III as well as Digitalization in the Finance Industry, and graduated from Business School at the University of Passau, Germany.
