Creating value by implementing solutions to your operational problems

We are a team with in-depth knowledge supporting the European bank and insurance industry

ABOUT US

Who we are?

  • Corcello help clients in the Financial Service and Insurance Industry in Europe to implement solutions to their operational problems and to optimize processes using our deep knowledge of systems, processes and business.
  • Based on our knowledge of what is considered as best-practice, we help our clients to achieve a significant improvement of operational performance. Our escalators are structured process models, proven analytical methods and tools.
  • We are continuously seeking better ways of working as we collaborate with our clients to help them solve their challenges and capitalize on opportunities to grow, optimize and protect their businesses.
  • Our collaborative approach, combined with our European connectivity and experience, contribute and motivate us to generate creative proposals for solution of how to proceed with a successful competitive operation.

Our Services

  • Process change and digitization

    A proven track-record and well documented methodology for assisting our clients with current and future state analysis of their critical processes and operational processes.

  • Regulatory changes and implementation

    Knowledge and implementation experience of new regulatory requirements.

  • Business Information Modeling

    A structured, uniformed and flexible data concept to ensure internal, customer related and regulatory reporting

  • Project Management and Agile thinking

    Experience in managing programs and projects in international environments using our well proven governance methodology (agile)

  • System selection and Vendor evaluation

    A proven track record and well documented methodology for assisting clients with selection, testing and implementation of systems into new complex bank environments

Our Expertice

  • Regulatory Changes
  • Data Warehouse and Data Management
  • Trade Flows and Back-office Operations
  • Procurement and vendor selection
  • IT Governance and Change
  • Project and Program Management

Go to our PROJECTS and read more.




Why Choose Corcello Consulting ?

Corcello consultants have over 30 years of experience working with business improvement projects within the Banking and Insurance Industry.

We have listed some examples of the projects our consultants have been involved, which should reflect our ability to deliver "value for money".

Implementing new Regulations

One of the largest bank in the Nordic region launched functionally to ensure compliance according to new MIFID II regulations January 3rd, 2018.


Consultants from Corcello was responsible for and operational involved in assessing consequences of the new regulation, ensured transaction reporting through ARMs and APA, adjustment of internal processes to fulfil compliance and finally assured that investor protection was implemented in all self-service and advisory channels.

Mutual Fund Distribution

Responsible and operational involved in replacing and rollout a common Transfer Agency solution in one of the largest bank in Europe across the Nordic Countries, Baltics and Luxembourg. Starting point was evaluation of needs and RFI/RFP process and in the Initiate phase gathering of requirements towards the system to be selected and the final recommendation of a vendor and solution.

The structure made possible by the new solution included a completely new nominee structure meeting the future needs the Investment Fund Business have for distribution in various channels. Furthermore, the solution enabled the bank to have a common and unified solution in several geographical markets, creating a competitive edge and a considerable improvement in “time to market” and cost efficiency.

Investment Management

Responsible and involved in quality assurance when implementing administrative and system support for one of the largest asset managers in the world. Within the scope was quality assurance of transaction flow, work processes and ensure practical testing of integrations to surrounding investors and other stakeholders. Project was delivered in time.

Business Information Modelling and DW implementation

Responsible for setting up, on-boarding resources and developing a Group Data Warehouse for two of the largest banks within the Nordic region.

Included in the scope was definition of the future data warehouse meaning overall business requirements (sourcing of data within risk, financial accounting and controlling), target architecture fulfilling the requirements, establishing a practically level of Business Information Model and Data Glossary and Implementation of Pilot application for risk adjusted profitability reporting for customers and products.

Launching new Products

The largest bank in the Nordic region wanted to launch a totally new investment wrapper product for its retail customers and together with our consultants, competence and capacity was assigned to take responsibility and involvement in the practical business and system development activity.

Included in the scope was to establish a totally new common technical platform for all wrapper products having separate product modules and common investment modules for all products. Project was delivered in time and the product in question is today one of the largest investment products for retail customers in the bank.

Cost efficiency

One of the largest Pension Funds in Europe wanted to increase cost efficiency and reduce the overhead parts of the transaction costs. The scope was to re-engineer and increase atomization through STP and reduce operational risk in manual operation and reporting. Corcello consultant was assigned to assess and propose new processes and an action plan for implementation.




Services

Corcello has an in-depth knowledge of how to re-engineer and reach an efficient new state of automatization level aiming to optimize the level of digitization.

With our in-depth knowledge of the core business, we search continuously for opportunities to establish straight-through processes as a baseline for digitization and reduction in operational risk and transaction costs.

We have supported and have been activly involved in several companies strategic positioning of core products and how to design and implement practical omnichannel solutions in the various distribution channels.

Process change and digitization

If the last epoch in Retail Banking was defined by a boom-to-bust expansion of consumer credit, the current should be defined by digital. This includes rapid innovation in payments and the general transformation in systems enabled by digital technologies.
We consider the European banks to have three to six years at most to become digitally within critically customer processes. Failing, will mean a risk for entering into a negative spiral with reduced market shares and profitability.

Revenues and profits will without doubt migrate at scale toward banks that successfully use digital technologies to re-engineer processes, create new products, improve regulatory compliance, transform the experiences of their customers and challenge key components of the value chain. Digitization often requires a process to be totally re-configured by e.g. combining automated decision making with self-service can eliminate manual processes.

Corcello would claim that companies should not hesitate to challenge each constraint. Many are corporate myths that can be quickly resolved through discussions with customers or regulators.

Regulatory changes

Regulatory compliance is a huge undertaking for all financial institutions driven by fall outs from the financial crisis. To ensure compliance the implementation has become costlier and more time consuming each year.

In the current environment of increased regulation, market uncertainty, tough competition, squeezed margins, reduced returns and shift in client expectations, it is essential that banks re-think and adapt their operating models to new realities.
The Banking and Insurance Industry are working to grow and maintain profits while adjusting to ever-changing regulations and the downturn’s effects on profitability and performance.

Corcello claims that successful organisations will need to convert new regulations to a competitive advantage and re-assess their operating models and address the effects of regulatory reform, competitive dynamics, evolving markets and increased expectations from stakeholders.

Business Information Modelling

Most financial institutions face issues that existing infrastructure and available data do not meet the business requirements for a consistent reporting across and between business lines. They face challenges ensuring consistency of management information, get adequate data quality for all users and not at least lack of ability to reduce complexity of data supply

Corcello gives value to the process by managing and being operational involved in the sourcing activities, data definition and data organisation as well as strategies for presenting data to internal and external data consumers. Launching and managing numerous parallel regulatory initiatives will be a mandatory situation in the coming years.

Corcello offers the prerequisite to establish an integrated and consistent reporting platform by offering a complete package of tools and implementation approach to establish a consistent data warehouse platform.

Project Governance

Managing large investments are normally governed as projects or programs. The opportunity exists to combine agile with a project-oriented waterfall approach to create a hybrid solution. Lessons learned, Corcello recommends to use waterfall to handle one or more phases — such as planning — where these do not require rapid or repetitive steps. Planning requires a more comprehensive, methodical, often slower approach to defining, analyzing, and documenting aspects of a project. This makes waterfall a better approach.

Once a project enters the development phase, rapid and repetitive changes require a different approach, and this is where agile kicks in to deliver the best results in the shortest amount of time.

Corcello may both contribute to the implementation and methodology by supporting training and documentation as well as being involved in and take responsibility for whole or parts of the program or project. Furthermore, our consultants have in-depth knowledge and experience of how to combine the project approach with an agile approach from small to large complex initiatives. This includes also the option to go full agile and more or less close down the project and waterfall way of working.




Contact

Contact us and we will provide answers on the best target operating models and provide support for everything from the design of an organizational and operational structure for personnel work, process and service management as well as the ideal vertical range of production and IT sourcing.

Location:

Joaquin Turina 4, 4H - L'Alfàs del Pi - Alicante - Spain

Email:

Administration : info@corcello.com

Partner               : joran.hansen@corcello.com

Call:

Spain      - Alicante     : +34 678 425 567     or

Sweden - Stockholm : +46 70 200 9073