About project

In digital banking, Degussa Bank has taken a giant leap forward by introducing a concept that blurs the line between the virtual and physical banking experience. The FinTech innovation, the Digital Bank-Shop, is not just a mere extension of online banking; it's a transformation of how clients interact with financial institutions. The idea of the Digital Bank-Shop was brought to life during the Covid pandemic. Within nine months, PRODYNA spearheaded the FinTech development, taking this innovative concept from a vision to a reality.

FinTech innovation and challenge

Traditional banking branches have long been the go-to for personalized financial advice and assistance. With the advent of online banking and the rise of intermediary platforms occupying the customer interface, the charm of face-to-face consultation seemed to fade into the past. Recognizing the need to bridge this gap, Degussa Bank embarked on a FinTech innovation and development journey, offering a truly immersive digital banking experience.

Development of a FinTech solution

Enter the Digital Bank-Shop, a brainchild of Degussa Bank's forward-thinking approach to customer service. This project reimagines the customer-bank relationship by providing a virtual space where clients can interact with banking experts in a manner that mirrors an in-person visit.

• Contemporary, flexible, personal, and location-independent financial advice
• Personal online consulting, e.g., via video telephony, telephone, chat, or email
• Movement in virtual space possible
• Free of charge and time-saving
• Highly responsive
• Secure document upload

"The Digital Bank-Shop has reimagined the client-bank relationship, providing our customers with a virtual space where they can very easily get the assistance they need, when they need it, without leaving the comfort of their home and using their favourite device. Especially during the pandemic, this Go-to-Market Timing was important to us.”

- Axel Schardt, Head of Sales Channel Management and Product Owner of the Digital Bank-Shop

The Digital Bank-Shop, a pinnacle of FinTech innovation, is primarily based on Microsoft technologies and is 100% cloud-native. In addition, it utilizes an AI-powered chatbot and voicebot solution. The platform was meticulously crafted to be accessible by customers using modern devices and operating systems. Furthermore, a game engine combines playful gamification elements with modern banking services, making the Digital Bank-Shop engaging and appealing to customers of all ages. PRODYNA professionals were responsible for the architecture, project management, and design creation, followed by the complete implementation. Additionally, PRODYNA created a real-time monitoring dashboard for the first MVP Go-Live, allowing the team to monitor a substantial amount of traffic and usage data and provide valuable insights during the agile development process.

Bank clients can now step into the online branch as if walking through the physical doors of a bank. They can access the schedules of bank employees and book appointments at their convenience. No more waiting in long lines or struggling to find a suitable time.  

What sets this project apart, though, is the ability for clients to engage in face-to-face video consultations with bank experts showing the individual availability directly. Imagine having a trusted and personal financial advisor at your fingertips, ready to discuss your concerns, answer your questions, and provide tailored financial guidance.

"PRODYNA expertise in FinTech development was essential in creating a solution that is both innovative and user-friendly. A key success factor for our agile approach was the highly creative and focused teamwork, which was made possible, among other things, by the different roles and diverse skill sets within the team. The PRODYNA experts have fit in perfectly since the beginning of our agile journey, enabling us to realize our vision for the Digital Bank-Shop from the first whiteboard scribble to a cloud-native solution that is fully functional. And our agile journey is still on. We're heading from a communication to a collaboration platform providing the number of MS Teams collaboration tools we're using internally and with our customers for building safe interaction rooms. Besides, we are blending in various eco-system features to make it more attractive overall.”

- Axel Schardt, Head of Sales Channel Management and Product Owner of the Digital Bank-Shop

A valuable impact

This project has created a bridge between traditional and online banking, offering a seamless, interactive, and personal experience that clients can access from their homes.

In the age of digital transformation, Degussa Bank stands out as a pioneer, pushing the boundaries of what's possible in customer interaction. Their Digital Bank-Shop is not just a solution; it's a financial experience that redefines the way we bank, making it more accessible, personal, and engaging than ever before. This innovation is underscored by the Best of Consulting Award 2023 by Deutsche Wirtschaftswoche that PRODYNA received for this project. Initiated by Wirtschaftswoche, this award recognizes outstanding consulting and development projects, underlining their success.

Finally, Degussa Bank plans to offer the virtual shop as a Software-as-a-Service (SaaS) package for banks and companies outside the banking sector in the coming weeks and months.