Cedacri

Cedacri: the digital transformation for the banking system

Open banking, shift to cloud computing, but also evolved technologies to take bank wealth management activities to the next step. Cedacri's offer is in constant evolution

The Cedacri Group is leader in built-in IT services for banks and financial institution. With over 82 million daily processed transactions, 31 thousand users of the system, 54 thousands Mips of mainframe processing power and 14 thousand servers, Cedacri manages the third IT core banking platform in Italy. The Group counts over 2,400 employees and offers its services to over 200 banks in order to support them in the digital transformation of their business models, in a path of continuous growth. The consolidated revenue of 2020 is claimed to be 402.7 million euro. The deep banking market experience has allowed Cedacri to elaborate a service model focused on the improvement of efficiency of “non-core” processes, allowing Financial Institutions to focus on the management of customers relationships. The Cedacri Group offers a complete and integrated suite with many services: Core Banking Solutions, Software Solutions, RegTech, Infrastructure & Cloud, AM & System Integration, BPaaS.

The hunt for the golden source

Cedacri support banks in the opening to open banking: but to play an active role, it is critical to work on the information mine present in the bank. Cedacri has therefore been founded 3 years ago with a proprietary gateway for PSD2, to which today are coupled a Data Hub, cloud oriented, and AI algorithms. With data ingestion in the Cedacri informative system and the addition of data from internal and external sources, such as social networks, a “golden source” is obtained: a certain and searchable data in various ways, representing the specificity of the client. Not only that: the turning point can be reached with artificial intelligence applied to data, and the banks can monetize the information about the client to propose, with third parties, services, and products in line with their needs.

The FinTech leverage

There is no lack of more evolved services, in collaboration with some FinTech: Cedacri has worked on digital health management with the product offer regarding Health - attractive in this pandemic age - on cash pooling solutions for PMIs and has ongoing experimentations on instant insurance. Creating products partnering with third parties is an important leverage of the open banking: the end client keeps the user experience to which is used to, with the sensation of remaining in the area of its bank, but at the same time can access new products with the consequent increase of the redemption and loyalty rate.

Being an MSP for banks

Another big trend on which Cedacri focuses its activity is the journey to cloud. The company puts itself as MSP (Managed Servicer Provider), namely managing the entire cloud framework in terms of compliance, safety, and performance, promoting a gradual approach and a flexible cost mode thanks to micro-services developed ad hoc for the banking business. The key word is streamlining: if cloud providers have confusingly wide catalogs, especially if one doesn’t have strong skills, Cedacri has streamlined the offer catalog focusing only on the most useful for the bank. Moreover, as it’s not possible to foretell with certainty how the cloud provider market will change, Cedacri has choose to make establish various partnerships and create agnostic solutions compared to cloud providers, in order to make them easily portable.

Technology for wealth management

Cedacri also addresses the banking world with a series of technological solutions studied for the wealth management field. After all, thanks also to lockdowns, Italians started cutting costs at the expense of consumption and a major part of this value could be invested in WM. In this context, digital innovation of processes has and will have a strong impact on important events for the customer and its family: this way, the counselor can anticipate the needs or the predisposition to the invest and even managed targeted campaigns. In addition, technology allows for the improvement of tools for the preparation of tailor-made investment proposals, that keep in mind the client’s risk predisposition, their goals, and regulations, in order to obtain the best risk-return-goals trade off and the investment needs.