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.
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.
Gathers the most relevant methods used in the bank and insurance digitalization
Focuses on an outside- and inside-view on the change on banks and insurance companies
Offers an analysis of the cultural alterations in organizations with a key area in project work
Projects the requirements of a digital bank or insurance company to thrive in 2025
Volker Liermann
Digitalization Strategy FinTech InsurTech RegTech Hybrid Project Management
“Not everything is changing, but most of the things changing can be of a disruptive character – so I’m happy that Disruption and DNA is picking up exactly this intention.” (Gerhard Lahner, COO of Vienna Insurance Group)
“In Disruption and DNA, finally someone is saying out loud that not everything is changing, but most of the things changing can be of a disruptive character.” (Dr. Carsten Stolz, CFO Baloise Group)
“This first volume Disruption and DNA of the book series The Digital Journey of Banking and Insurance offers an extensive market view of digital transformation, including special insights into accounting and risk management. The book explores the often underestimated topics culture and project management.” (Bernhard Hodler, Former CEO Julius Baer Group)
“Virtually all financial institutions have embarked on ambitious digital journeys, both to provide better products and customer experience more efficiently and in responseto the threat of industry disruption by FinTech competitors. There is no doubt that there will be winners, and there will be losers. I am convinced that The Digital Journey of Banking and Insurance series is indispensable reading for the future winners.” (Thomas C. Wilson, CEO, President and Country Manager at Allianz Ayudhya)
“This first volume of the incredible book series sets the stage just right for digital transformation with the interplay between change (disruption) and stable objectives (DNA).” (Erik Podzuweit, Founder, Co-CEO Scalable Capital)
“We do remember when we started our digital journey, but we do not know when it will be over. Therefore, we are definitely in the middle. The book series The Digital Journey of Banking and Insurance is a must-read for of all of us.” (Christian Peter Kromann, CEO, SimCorp)