Engineering: leader della Digital Transformation

Digital Finance

Five questions to...
Giuseppina Volpi

Our Digital Finance General Manager talks about the challenges for 2021 and how Engineering can support banks and insurance companies to become brokers of new values, enabling new digital ecosystems.

1.

OVER THE LAST YEAR, COVID-19 HAS SHAKEN UP BUSINESS STRATEGIES AND ORGANISATIONS WHAT MOST SURPRISED YOU ABOUT 2020?

Covid-19 has opened up a large new front for the world of banking and insurance. Smart Working has changed the rules of the game, offering the possibility of working anywhere, shifting away from large centres, and opening up new hubs where people can live and work in a different way. This positive decentralisation will kick start small and medium enterprises, foster micro-enterprises, and help to develop new ideas to create a new future.
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2.

WHAT CHALLENGES AWAIT THE FINANCE SECTOR IN 2021?

Although for many years it was said that retail was no longer profitable, today one of the main challenges for banking and insurance entities is to manage to attract customers with new relationship and advisory models, and - thanks to the richness of the data collected - to offer new services or business models to the world of SMEs and corporate customers. Once the difficulties of the current period have been overcome, these will once again become a driving force in the development of our economy and communities, with banking/insurance set to become the engine of the future.

Another challenge, however, and one that is no less fundamental, will be to fully comprehend that the era of products, of operational uniqueness, is coming to an end, and that the era of creating value by bringing together various players and catalysing their interconnection is emerging. Financial entities have a great opportunity to do this before other players, such as utilities companies, social media platforms, or retail companies.

3.

IN YOUR OPINION, WHAT IS THE MAIN TREND THAT WILL CHANGE THE SECTOR, RESHAPING ITS PROCESSES AND THE SEARCH FOR VALUE?

The value of the future is creativity and banking/insurance entities will need to provide impetus for this process, facilitating credit, insurance cover, and advisory services, becoming the driving force behind this revolution and the engine of this innovation.

Financial players can become brokers of new values, and thus enablers of new ecosystems, accelerating the creativity of businesses and helping them to capitalise on the value of the new 'black gold' - data - as well as the ability to extract knowledge from it. Clearly the competition is great and comes from outside the world of banking/insurance, but the opportunities in this large open market are also vast.
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4.

COULD WE THEREFORE SAY THAT ECONOMIC SUSTAINABILITY AND NEW ATTENTION TO VALUES - NOT ONLY IN TERMS OF THE ECONOMY AND FINANCE - WILL CHANGE THE FACE AND OBJECTIVES OF BANKS?

The world of banking/insurance will flourish once again when many other activities with a cultural, territorial and sustainability value flourish again.

The new digital ecosystems will welcome a wide range of vendors with different skills, exchanging values and information, and interacting with complex supply chains capable of embracing players from different verticals. The fiduciary role, historically associated with banks/insurers, can and should be confirmed in the future, when the bank/insurer will operate as an enabler of relationships, linking the real and digital worlds in the various markets.

5.

YOUR WORDS CONFIRM THAT WE ARE WITNESSING THE LIQUEFACTION OF SILOS: HOW CAN ENGINEERING SUPPORT ITS STAKEHOLDERS IN THE CONSTRUCTION OF NEW ECOSYSTEMS?

Banks and insurance companies will need to understand how to invest in different industries, learning how to communicate with them and create networks within them, in which everyone helps to enhance the richness of the ecosystem by doing their own job.

Covid-19 is accelerating the advent of new social, intellectual, and cultural trends. Financial entities will need to start with a focus on culture and creativity. And they will only be able to make use of this new sensitivity by overcoming the sense of pure competition. We find ourselves in a world that longs for integration and collaboration.

Here at Engineering, we need to position ourselves as the partner (or the aggregator of partners) that feeds them, so that we can become the first enabler of these new and fruitful interconnections.
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Giuseppina Volpi

With over 30 years of experience in the IT sector, Giusy has held various roles in Delivery, Account, Consulting, Sales and Management, up to the current one of Finance General Manager.

Today in Engineering, in particular, she has the strategic task of strengthening and developing the Finance market and organizing the new ecosystem of services/partners to be offered to customers.

Contact us

marketing@eng.it
Tel. (+39) 06-87591