Beyn: Democratizing Digital Banking to the World

Beyn: Democratizing Digital Banking to the World
Olivier Renault
CEO Beyn

Mobility and digitalization tied with the demand for open, secure, and personalized banking experiences are the key drivers for the adoption of innovative financial technology within the banking industry. As consumer habits and behavior with regards to banking are changing rapidly, banks today are racing to take advantage of market opportunities through digital transformation.

To keep up with the evolving trends, banks are also partnering with Neo banks to yield new and better ways of banking with their customers. However, the digital transformation and the shift from legacy CBS to innovative financial technology is easier said than done. In short, financial institutions need a reliable partner who can guide them through the digital journey, help them with integration and development of nimble products and services, and resolve the challenges created by the new digital economy.

A renowned fintech company, Beyn is at the forefront of offering a wide range of digital banking solutions (including open banking, payments, back-office, and marketing tools) to retail and corporate banks. Having been in the industry for over a decade, Beyn focuses on designing innovative IT banking solutions to optimize customer relations, digitalize processes and manage data. “We have built our solutions keeping customer experience at heart,” says Olivier Renault, CEO, and Co-founder of Beyn.

One of the primary challenges addressed by Beyn is the integration of systems. The company has set up bridges between legacy CBS systems and front-end solutions via its flexible integration layer. As digital transformation is different for every company, Beyn pays more attention to design secure and personalized solutions tailored to the specific needs of banks’ customers. As the customers experience is their top priority, they offer solutions that have simple user-interfaces and powerful functionalities for the bank’s customers and account managers alike.

Beyn has designed SELA, an intuitive mobile banking solution dedicated to retail customers and KANTARA a next generation corporate banking solution which is integrated with cash management and trade finance modules. The company has also developed an e-wallet as part of its payment solutions to democratize access to financial services while facilitating and optimizing the value chain.

Beyn’s banking solutions are based on three layers: communication, digital engine, and customer experience. The communication layer connects and simplifies interactions with legacy CBS or external stakeholders. The digital banking engine is a set of 70+ banking modules for retail and corporate clients. These modules activate reporting tools, cash transfers, trade finance and cash management operations, card management, among others, all in real-time. The last layer is focused on the end-user and how they interact with the banks. “We call this UX (User eXperience) and UI (User Interface) layer. It is fully activated by API from the digital banking engine. Thanks to the UX/UI engine, we are able to personalize digital banking layout on any device,” explains Renault. Through Beyn’s open banking solutions and APIs, banks can add more personalized modules, integrate with other stakeholders on the financial markets, build unique processes, and generate revenue.

Beyn makes use of collaborative methodologies like, Design Thinking, user testing, wireframing among others to understand the market needs and customers’ expectations effectively in terms of banking experience, processes, functionalities, and layouts. The company has recently revamped its platform and transitioned to an Agile environment to deliver high-quality applications. With DevOps, the company can continuously deliver products at a short time to market and low deployment costs.

Since its inception in 2004, the company has focused on building a strong relationship with its clients based on trust and transparency, as well as the ability to scale quickly and adapt to technological trends. Looking forward, Beyn has plans to aid banks present in Europe and the African region. With regard to that, Renault says, “As most of the banks are increasingly relying on digital and mobile solutions; we are well-positioned to extend our support to those regions shortly.” All-in-all, having a partner like Beyn enables banks to focus on their core business while providing their clients a delightful banking experience.

Source : Banking CIO Outlook

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