Sopra Banking Software and digi.me team up to help banks gain a competitive edge in today’s digital world
Paris, June 11, 2019, Sopra Banking Software - a global leader in digital banking and financing software – today officially announces a new partnership with digi.me, the personal data security platform. Digi.me’s Private Sharing solution empowers individuals to own, control and securely share their personal data with third parties. This enables Sopra Banking Software’s bank clients to go one step further, offering consumers more tailored and suitable financial services and a more innovative, convenient and protected digital journey.
The seeds for the partnership were laid in June 2018, when digi.me won the first edition of the Sopra Banking Open Banking Challenge (OBC). The goal of the 36-hour challenge was to pitch innovative service demonstrators based on the Digital eXperience Platform (DxP).
Banking services in today’s marketplace face constant challenges, and banks must stay ahead of the curve if they are to adapt to customer and market needs and remain competitive.
Sopra Banking Software has therefore created the DxP, which enables its clients to rely on traditional banking services such as account and credit card management, as well as other services in the ecosystem, while tailoring them to their specific and long-term needs.
As the customer relationship gradually moves towards an increasingly tailored, pro-active and hyper-personalised service, designed to improve customer satisfaction and retention, it becomes increasingly necessary to offer solutions that protect the use of personal data.
“Customers can be offered truly relevant services such as a customised home insurance quote or mortgage plan based on more accurate and up-to-date personal data. By having Private Sharing access to such data, which upholds the individual’s privacy, banks can improve their customer acquisition ratio due to better understanding of each individual client’s needs,” declares Bruno Cambounet, Product Marketing Director of Sopra Banking Software.
Digi.me’s private sharing solution provides a way for banks to access customer data that is already completely GDPR-compliant, as all interactions are based on user consent. Banks can build direct and meaningful relationships with customers who are ready and willing to share their personal data in exchange for personalised services or offers.
With digi.me, banks can access 100% accurate, granular and real-time customer data, without the compliance risk of storing it on their own servers. All personal data is analysed on the customer’s own device and only with a customer’s explicit consent.
As retail banking embraces an ever more data-driven approach, service providers with strong and trusted brands benefit from combining this with cutting edge privacy-conscious solutions. This customer empowerment is an essential condition for the acceptability of innovations and underpins the fundamental values - trust - of the bank offering.
“We’re excited to partner with Sopra Banking Software to bring digi.me’s private sharing and consent services to the retail banking sector”, says Rupert Melsom, VP Business Development of Digi.me. “We will support Sopra Banking Software with leading privacy and consumer trust services, and together we look forward to offering industry leaders new, competitive advantages in the coming months.”
Digi.me is a decentralised personal data management platform that allows consumers to privately and securely aggregate data from across their digital lives to share with apps that respect user control of data. Developers can build innovative new apps and insights powered by their SDK and API, or integrate digi.me technology into their existing apps to improve data-driven services. Digi.me connects to thousands of personal data sources and enables companies to meet GDPR data portability requirements by giving customers access to their data with security and reusability. Based in the UK, digi.me merged with Personal from the US in 2017, and also has operations in Iceland and Australia.
About Sopra Banking Software
With 4 300 experts, a pro forma turnover 2018 of € 373,7 million and one of the deepest, broadest portfolios of software and services, Sopra Banking Software is a trusted, long-term partner of over 800 banks in more than 70 countries. Sopra Banking Software has an unequalled ability to address the requirements for banks and financial institutions of any size and scope, allowing them to innovate and expand their services. Sopra Banking Software is a subsidiary of the Sopra Steria Group, a European leader in digital transformation, with more than 44 000 employees. In 2018, Sopra Steria achieved generated a revenue of € 4,1 billion.