Engineering: leader della Digital Transformation

Banking & Artificial Intelligence

Five questions to...
Pasquale Orlando

The CEO of Deus Technology talks banking, artificial intelligence, and how data is key to putting people's needs at the heart of new business strategies.

1.

COVID-19 HAS ACCELERATED DIGITISATION ACROSS ALL SECTORS. WHAT HAS THIS ACCELERATION MEANT FOR BANKS?

The process of digital transformation has been accelerated by Covid-19 because lockdowns forced all customers to access their accounts online. Fortunately, banks had largely already embarked upon a journey of digitisation, especially with regard to payments.

Among banking services, Digital Wealth Management has also undergone a remarkable acceleration; it was only thanks to online processes that investments could be managed at a time when it was impossible to meet one's advisor in person.

In general, 'remote' processes have experienced an impressive acceleration that has generated a real cultural change, demonstrating in practice that consultancy can also be effectively delivered digitally.
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2.

WE ARE WITNESSING A PROCESS OF TRANSFORMATION IN WHICH BANKS ARE BECOMING INCREASINGLY WILLING TO UNDERSTAND AND SHARE THE 'EMOTIONAL' SIDE OF THEIR CUSTOMERS: WHAT IS THE VALUE OF AI AND DATA IN CREATING A NEW RELATIONSHIP BETWEEN BANKS AND PEOPLE?

I agree that we are also facing a momentous transformation in financial services: we have moved from a product-centred world to a user-centred one, with digitisation processes increasingly focused on simplicity and the idea of "less is more". Now we are entering a new phase in which the 'person' is at the centre of the strategy: in this context, the emotional side of things is fundamental to engaging customers.

It is clear that data really is the "fuel" of this new approach, and that analytical and forecasting technologies allow us to gain a very accurate idea of the profiles and requirements of individuals, to whom we can then provide corresponding messages, services, and products. The subject of data represents a great opportunity - but also, for banks, a great risk of disintermediation by fintechs that act as aggregators of customer account information under PSD2 (Payment Services Directive).

3.

THE NEW NORMAL IS FORCING ALL MARKETS TO PAY GREATER ATTENTION TO ISSUES SUCH AS ECONOMIC AND SOCIAL SUSTAINABILITY. HOW ARE BANKS RESPONDING TO THIS NEW "SENSIBILITY" AND HOW CAN THEY BECOME "VALUE DRIVERS"?

The issue of economic and social sustainability has a very strong impact in the financial world, not only because of the current situation, but also (and in particular) because European legislation on ESG encourages the system to implement investment processes in sectors and markets that have concretely incorporated these values into their modus operandi. A couple of years ago,

Larry Fink, CEO of the largest asset manager on the planet (BlackRock), declared that his company would no longer invest in companies that do not meet very strict sustainability and ethical criteria. Investment is therefore a key driver for increasing the sensitivity of the economic system to the issues of our future.
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4.

HOW DOES DEUS TECHONOLOGY SUPPORT THE TRANSFORMATION OF BANKS? WHAT IS THE VALUE OF ROBOADVISORY IN BUILDING NEW SUPPLY MODELS?

Deus' mission is to help banks implement advisory models that are fully digital to interpret change and disruption. The Robo is an extremely important tool for the democratisation of investment services, making the service scalable so that it is also available to retail clients.

We believe that the time has come for clients to use investment services digitally while being assisted remotely to plan their real lives.

5.

WE ARE WITNESSING THE CREATION OF DIGITAL ECOSYSTEMS WHERE THE VARIOUS PLAYERS ARE SEEKING EXCHANGE AND COOPERATION RATHER THAN COMPETITION. HOW CAN TECHNOLOGY SUPPORT THESE NEW INTERCONNECTIONS?

A large part of the ongoing innovations are due precisely to the fact that technological architectures have opened up and allowed the construction of real digital ecosystems where the various services are delivered and also interact with each other through the Association of SMEs.

Today it would be impossible for a single entity to provide all the services that make up a bank. Technology has therefore become an enabler of the digital economy in which we live and which is transforming at an impressive speed - both with completely new services and with digitally reinterpreted services.

Deus has been a pioneer in this regard as it was established as a provider for the Association of SMEs back in 2010: this has allowed it to ride the wave of innovation.
Pasquale Orlando

Pasquale Orlando

Pasquale began his activity in Brainpower as a consultant to become Strategic Marketing Director with responsibility for the development of value and direction of product management.

In 2005 he continued his experience in CapGemini as owner of value wealth management and as functional manager of an important project at the Allianz Group. Later he became Strategic Marketing Director of MoneyMate with responsibility for product development and value proposition.

Since 2020 he has been CEO of Deus Technology, which joined the Engineering Group in 2019.

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