Digital Innovation Magazine - July 2022 by iThink Media

Stuart Farrell, Chief Procurement Officer at Giganet, shares how the company is aiming to be the best internet service provider in the UK

We are gearing up for the busy summer months here at Digital Innovation, with a jam-packed diary of industry events and a full schedule of exclusive interviews with European tech’s movers and shakers. Speaking of which, we are bringing you three bespoke interviews to enjoy this issue – from Giganet (p6), Northern Trust (p38), and Farmer Connect (p74). Giganet’s Chief Procurement Officer, Stuart Farrell, reveals his company’s plans to be the best internet service provider in the UK, underpinned by great people, a strong partnership ethic and the customer at the heart of everything, whilst the Northern Trust team discusses its intriguing data and digital transformation journey. It was great to chat to Jeff Greaney, Head of Investment Risk & Analytics Product Management, and Soundra Saravanan Technology Director, Asset Servicing, at Northern Trust, to find out more about the solutions they deliver. With the increased focus on environmentally-friendly organisations, Fabian Portmann, Chief Technology Officer at Farmer Connect, explains how traceability is helping to achieve more sustainable supply chains – and traceability is certainly one of the buzzwords for supply chains today! Plus, we have some great features guaranteed to inspire the technologist in you, from 3D printing (p66) and space (p28), through to self-driving cars (p58) and women in tech (p86). Be sure to check out our round-up of our recent trip to Money 20/20 Europe in Amsterdam (p100). We had a fantastic few days and look forward to a return visit in 2023... Hope to see you there! Have a great month!

Anna McMahon Editor editorial@ithink.media

Stuart Far rel shares how l, Chief Procurem ent Officer the compan internet at Gigane y is aim service pro vider in the ing to be the best t, UK

Danielle Harris Director d.harris@ithink.media

Tom Barnes Director t.barnes@ithink.media

Daniel May Senior Digital Designer design@ithink.media

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3DCP Group has bu the first 3D-printed concrete tiny house Europe

Stuart Farrell, Chief Procurement Officer at Giganet, on what it means to be the best ISP in the UK

We chart Northern Trust’s data and digit transformation of th few years

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Hyundai Mobis is quickly developing its presence in the European market

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Farmer Connect’s Fabian Portmann explains how traceability is helping towards achieving more sustainable supply chains

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A round-up of our visit to Money 20/20 Europe in Amsterdam

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London insurtech Urban Jungle is this month’s start-up

Meet the female founders and CEOs setting the European fintech agenda

28 This space-enabled system is designed to clear congested skies whilst reducing carbon emissions 5

C OV E R STO RY

DELIVERING ORGANISATIONAL CHANGE WITH PEOPLE AT THE CORE STUART FARRELL, Chief Procurement Officer at Giganet, shares how the company is aiming to be the best internet service provider in the UK, underpinned by great people, a strong partnership ethic, and with the customer at the heart of everything.

tuart started his career in FMCG before moving into mobile telecoms with Vodafone, where he progressed swiftly through the ranks through commercial, property and wholesale. 7

Stuart comments, “I gained vital experience in these areas, working in the UK, Kuwait, Germany and Northern Ireland. I then started to transition into network and IT led businesses in Russia, Asia and North America. It was such a learning curve to see other countries, cultures and the differing management styles across the world. I worked for Hewlett Packard for a period, looking after the EMEA PSG team, before being asked by Vodafone to

go back to head up their UK mobile network wholesale commercial team, delivering both national and global connectivity on mobile virtual network operators.” In 2015, Stuart stepped into procurement, heading up a large project with Accenture, which ended with great success and a true partnership end goal. This took his career into a whole new sphere, bringing together his

consumer, commercial, property and partnership experience to build, lead and develop successful procurement functions around the world. Now at Giganet, Stuart looks after all procurement and commercial operations, and has recently been promoted to Chief Procurement Officer. Stuart enthuses, “I am accountable for all our procurement strategy, contract lifecycle management, quantity surveying and fleet logistics. I have been

tasked by our CEO to build a worldclass procurement supply chain management function, ensuring that the customer is at the heart of everything we do, with a focus on safety, ethics and the environment.” Giganet’s vision is to be the best internet service provider (ISP) in the UK, offering the best customer service, quality, speed, reliability, and experience for a fully connected home. Stuart explains, “We have a

“Stuart and his team have identified a strong group of key strategic partners to be with them on their journey of the next three to five years and beyond, including Anixter, Vitruvi Software, Yorkshire Fleet and GE Services” two-pronged route to market, offering both On-Net and Off-Net connectivity. We live, breathe and work to our ‘Full fibre. Honestly.’ strapline, and from a procurement perspective, that means delivering engaging contracts, fair terms, and safety, at its very core. Giganet is supporting the Digital Britain agenda, with its centrally hosted core UK network. Stuart says, “We cannot build a connected Britain without partnerships. One of the key learnings of the last 20 years is that a business must acknowledge early on that it is not going to be great at everything, and we acknowledge that we need our partners to help us. The Giganet partnership proposition says 10

that without our partners, we cannot go on to be the best ISP in the UK. We have begun a five-year transformational journey with our partners, and they will be with us every step of the way to realise our aim, supported by our investors Fern Trading Limited advised by Octopus Investments.” Stuart and his team have identified a strong group of key strategic partners to be with them on their

journey of the next three to five years and beyond, including Anixter, Vitruvi Software, Yorkshire Fleet and GE Services. Stuart continues, “We have just signed a huge multi-year deal with warehousing and logistics partner Anixter. We called on Anixter because they have been the global leaders in warehousing, distribution, materials and logistics since the 1950s. They can help build, connect and power us to

deliver our golden aim, providing fibre products and important network componentry. Vitruvi is a Canadian software company, which provides our survey, design, planning and as-built. They are the key tool to allow rapid build deployment. “We have also signed a multi-year deal with Yorkshire Fleet to provide all our vehicle requirements, servicing, maintenance, shipping 11

Fibre Presents Opportunities and Challenges for Internet Service Providers As access to broadband infrastructure funding sources are now becoming available, internet service providers (ISPs) are accelerating the deployment of fibrebased network solutions and shifting their focus to preparing for future expanded capacity. For any fibre deployment – whether an upgrade, a new deployment or expansion of services – there can be complex challenges that require dedicated, experienced management.

Specialised Expertise to Meet Key Challenges Many ISPs simply do not have the inhouse capacity to handle the complexities involved with a large deployment project or they may need additional resources to measurably improve their outcome. Having an end-to-end supply chain solutions partner significantly increases available resources and presents a company with a single-source partner that delivers the specialised area of expertise needed to increase efficiencies, speed deployment and move from a capital expense (CAPEX) to an operating expense (OPEX) financial model. There are a wide range of benefits and advantages to having an integrated provider like Anixter that can significantly increase resources available to deploy and manage components and provide a variety of services and solutions. Our goal is to ensure your project is completed 12

on budget and to specification. Having a partner that can combine a strong suite of products and supply chain services delivers a more effective, on-time project.

Anixter Offers Solutions That Can Help You Focus on Your Total Cost of Acquisition. Sourcing – Supply chain issues are causing delays in fibre deployments and providing frustrating roadblocks to project timelines. Anixter can manage supplier relationships and contracts, provide access to global offerings, consolidate suppliers, leverage spend, access competitive pricing, ensure product standardisation, and reduce noncontract buying and costs to deliver value to your business. Inventory Management – Utilising Anixter’s warehousing infrastructure gives customers the ability to streamline their warehousing functions and increase their speed to deploy. This can also give customers dedicated project inventory to mitigate vendor lead-times and risk by adopting a min/max replenishment process to customer forecasts. Additionally, by having a local presence, customisable reporting and localized VMI, we have designed our services to optimise inventory levels of materials for ISPs centrally and locally. Product Enhancement and Packaging – These solutions allow you to streamline the project and reduce time and deployment costs by maximising off-site assembly, staging, and pre-configuring of products.

This can include services like cable cutting, kitting, labeling, asset tagging, software installation and construction deployment services just to name a few. Global Logistics – Anixter’s worldwide footprint enables them to determine the most efficient methods for delivering products to help mitigate the risk of project delays. Taking advantage of this expertise can deliver lower freight costs, improve on-time delivery, reduce lead times and optimise international transactional costs. eCommerce Solutions – Having realtime visibility to view and process transactions and inventory, track shipments, confirm deliveries, view invoices, run reports, save BOMs for later use, check contract pricing, as well as other customisable options, are all solutions that help increase operational efficiencies.

Our Site, Installer Site, Job Site An ineffective supply chain can be a huge drain on resources. Collaborating with a supply chain solutions partner with local expertise, global experience and innovative solutions can help ISPs optimise profitability and performance. Anixter provides possibilities that are as simple as offloading a portion of your materials management to local expertise, to a complete onsite partnership with a dedicated team to draw on its vast expertise and resources to run a world-class supply chain for your business. There are valuable lessons to be learned from those who have already travelled their broadband journey. An experienced global supply chain partner for these types of projects can allow you to focus on your core business objectives whilst Anixter manages the details of your deployment.

Working with a supply chain solutions partner that provides these capabilities can deliver the optimum total cost of acquisition.

About Anixter

Anixter understands the common challenges and best practices for supply chain assurance, while also realising that every project has its own unique requirements and goals. Our approach is to listen, evaluate, collaborate and use our unmatched expertise to save time, provide consistency and improve scalability.

Anixter is a subsidiary of Wesco International (NYSE: WCC). Wesco builds, connects, powers and protects the world. Headquartered in Pittsburgh, Pennsylvania, Wesco is a FORTUNE 500® company with more than $18 billion in annual sales and a leading provider of business-to-business distribution, logistics services and supply chain solutions.

and racking. They will ultimately allow us to focus on green credentials through the adoption of electric fleets, supporting our Network Deployment across the UK. “A further key partner, GE Services, will offer assistance out in the field, providing the much-needed civils, building, laying, connecting, powering up, and providing the fibre connectivity for both residential customers and business users. We have invested time in building a trusted relationship with each of these companies. They are woven into the very fabric of our business operation, helping to deliver the Giganet vision we are all driving towards.” Stuart’s global experience, strong commercial conceptuality and cultural awareness help him to spot and harness great talent, seeing beyond colour, sexual orientation and gender. He explains, “I have been very fortunate to work in various parts of the world, and understand that people management and investment in growth will ultimately lead to success if 14

“I have been very fortunate the world, and understand th investment in growth will ulti can embrace

e to work in various parts of hat people management and imately lead to success if you e the culture”

you can embrace the culture. The coming together of cultures will help build a worldclass procurement function here at Giganet.” Stuart enjoys the challenge of mentoring talented individuals, having been lucky enough to have been inspired by Detlef Schultz, the previous Group CPO at VPC. Stuart continues, “I would say one of the keys to my success has been my strong leadership and mentoring skills, but it works both ways. My own mentor still speaks to me now, enabling me to learn what it takes to be a good mentor to the team. But you also have to recruit great people and build a strong team. For me, it goes beyond the procurement team, building connections with Giganet’s partners, as well as friendships outside of the office. At the end of the day, work is important, but life is more important.” Something that Stuart has gleaned from his experience whilst working at Fujitsu in Asia is to take care of the team. He says if a team is happy at work, they can be happy at home, and if they are happy at home, they will work harder. Stuart says, “Having worked across 15

the three main geographies of the world, I have an appreciation of the ability to focus on ethics, the environment, the customer, but also each other. At Giganet, we are fortunate to be able to work almost anywhere, so long as we have an internet connection (something we are pretty good at, by the way!). Someone working from home powered by great fibre connectivity may work harder than they would work in the office, but that may challenge their mental health. We are very focused on mental health at Giganet, making sure our colleagues are happy. We have an employee assistance programme, biweekly one-to-ones with our

team, as well as wellness days, to ensure we are creating the right environment.” So, throughout his career, how has Stuart managed organisational change that transforms structure and delivers significant, measurable improvements? Stuart answers, “In my last four roles, I have been able to design, engage and deliver organisational change with people at the core. Change can be scary, and not all change is good, but the right change with a clear buy-in can be revolutionary. Over the last eight years, my team has managed over 12.2 billion dollars of procurement spend across more than 1,700 partners

OFFICIAL PARTNER

ANIXTER Anixter looks forward to furthering our partnership with Giganet and continuing to provide end-to-end supply chain expertise and solutions that add bottom-line value and enable increased focus on core business strategies and outcomes. By offering our wide range of service solutions – including sourcing, inventory management, product enhancement and packaging, global logistics and eCommerce – Giganet is able to redistribute strategic resources and products that can assist them with their company mission and vision to expand quality ISP service delivery to the UK market.

We build, connect, power and protect the world. Most of us expect life to run smoothly. But we don't spend much time thinking about what it takes to make that happen. Anixter does. Every day we leverage our tech-enabled supply chain solutions and help build a world you can depend on.

So you can live life uninterrupted. anixter.com/emea

Fleet Management at your fingertips

“The management software provided by Yorkshire Fleet has been a game changer” Steve Blake Senior Supply Chain Manager

YorkshireFleet.co.uk

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and vendors, delivering on average 7 per cent per year return. It is about ensuring the continued success of the business, delighting our Giganet customers, and building a great place for people to work.” All of this comes with the usual challenges. Stuart explains, “To succeed, you have to be clear what it is the business wants to achieve. Change for change’s sake can be both unnerving and unnecessary. I think the ability to have a clear vision and strategy is key, while also understanding, for some, an immediate buy-in will be difficult. We always look at the bigger picture. You have to consider the ethics of the team,

and have an understanding of each other. Everyone can play a role in executing Giganet’s vision. It is about making work fun whilst having a tangible output.” On the subject of spend management versus commercial contract management, Stuart makes the distinction between buying items as cheaply as possible versus identifying by category in order to increase efficiency. Stuart explains, “We are looking at building category strategies so my team can be really involved in shaping the future of the business at Giganet, while helping our colleagues understand how best to deliver to our customers. With category

OFFICIAL PARTNER

YORKSHIRE FLEET Giganet approached Yorkshire Fleet to assist, as part of their supply chain, with the exclusive management of the ever-growing vehicle fleet; from vehicle sourcing, supply, tracking and maintenance, to licence checking, mileage monitoring, service reminders and driver behaviour. We were able to help implement the managed service, systems and software necessary to run an efficient and healthy fleet, whilst maintaining the high duty of care standards that Giganet insist on for their drivers and customers alike. Giganet are striving to become the best in the UK, and we at Yorkshire Fleet Management are very proud and excited to have the opportunity to use our expertise to help them achieve this. 19

management, when making a purchasing decision, you can take experiences you have seen to challenge the status quo. We have identified the most important partners by spend and strategic importance, setting time aside for them

“I have a five-year vision for a worldclass procurement function, underpinning our delivery, to excite and delight our customers” each month to ensure that, not only are we able to deliver, but furthermore that they feel empowered, and we are doing everything in line with our collaborative framework. It is a two-way monthly engagement, with our Giganet customers at the heart of it.” With the market in the UK going through another round

“We are now on track over the next three years to connect over 500,000 UK homes and businesses to our award-winning brand of full fibre” of fixed mobile collaboration, Stuart says global players are looking at the telecoms sector for strong long-term investment, providing an opportunity for procurement functions to play a larger role in these businesses. He continues, “We need groupwide procurement, even across

different brands within the same group, in order to bring that next level of evolution to corporate buyin. Centralised procurement items can be differentiated in the market, as there will always be a place for local buy-in and customisation. I have a five-year vision for a world-class procurement function, underpinning our delivery, to excite and delight our customers. Giganet is still in the early stages of the journey, but we have talent with decades of experience in the team, and that is being harnessed.” Jarlath Finnegan, CEO at Giganet says, “The UK has made no secret of how much they appreciate reliable connectivity and excellent customer service from an ISP.”

OFFICIAL PARTNER

GE SERVICES GE Services is proud to be a supply chain partner of Giganet and participating in the construction of new FTTP broadband. GE Services provide a full service delivery, ensuring the programme objectives are met whilst recognising and managing the potential impact of construction works to the stakeholders within the build areas. GE Services Managing Director Patrick Guerin says, “Our relationship with Giganet jointly seeks to help ensure that the innovation, energy and construction personnel are available to meet the expectations of the future customers and fulfil Giganet’s ambition of being the best ISP in the UK.”

Guerin Energy Services are delighted to be a key supply chain partner to Giganet in the role out of high speed broadband networks where we provide civil and cabling expertise along with management of the Streetworks operations. Patrick Guerin, Guerin Energy Services Founder and CEO states that “Underpinning our ambition to grow the business in a sustainable and risk managed way relies upon the entire commitment of the senior management and the investment in the right people and our supply chain which provides the platform to support the construction and investment programme of Giganet for the development of the networks to new customers”

We understand the activities necessary to build new networks requires works on the highway and the conduct of field staff and the image presented can be a great advertisement for both Guerin Energy Services and Giganet and preventing the damage that can be done through one event is highly undesirable and therefore the focus on ensuring all personnel understand their obligations is part of an ongoing effort.

The commitment to Giganet’ s focus on achieving high standard’s of customer satisfaction to cover every aspect of the operations in the field as well as the importance of excellence in the management of Streetworks administration where recognising the importance of the relationship with the Local Authority’s and other stakeholders is key to achieving the planned outputs. To ensure that Giganet are supported in all areas of their business operations Guerin Energy Services rely upon the ISO standards (45001:2018, 9001:2015, 14001:2015) and external assessment to verify the management systems and their continual improvement.

Understanding the impact that the construction works will have on surrounding local communities and how we can mitigate the impact is part of the carefully planned approach that is taken from the initial survey to the intended methods off delivery.

The importance of establishing and maintaining good communications with all stakeholders who that will be impacted by the construction programme is essential to achieving and maintaining the goodwill necessary to achieve the programme objectives.

The materials that’s all used to construct new networks all part of the Guerin Energy Services environmentally sustainable targets. Energy Services seek to minimise any activities or products which may cause a failure one of the key areas is reduction of waste and reworking and therefore we adopt a right first time approach.

The commitment of our field based teams to carry out the works on the highway and to achieve the programme targets of Giganet are fully supported by our established occupational health and safety management system and in addition the training and accreditation within the smart awards competency scheme.

Guerin Energy Services is committed to growing it’s business within the ambitions of Giganet and at the heart of the relationship is the importance of trust and they shared desire to achieve outstanding performance in the delivery of high speed broadband networks.

www.ge-servicesltd.com

F I B R E

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Jarlath continues, “At Giganet, service comes first, and we believe our ethos, grounded in honesty and simplicity, will bring a new dynamic to the market that consumers have been denied for too long. As customers grapple with inflation and rising living costs, our flexible contracts, and our promise to abolish exit fees and midcontract price rises, resonates. “We are now on track over the next three years to connect over 500,000 UK homes and businesses to our award-winning brand of full fibre through the deployment of our own full fibre network infrastructure, and across CityFibre and Openreach.

Jarlath Finnegan, CEO at Giganet

OFFICIAL PARTNER

VITRUVI SOFTWARE The Giganet collaborative framework is extremely refreshing, and Vitruvi feels immensely valued as a core vendor technology partner, contributing directly to fulfil Giganet’s vision. They truly are one of our favourite (and most demanding) customers around the world. Demanding because they have a genuine desire to co-create a better tomorrow, not just replicate the ISP status quo of yesterday. Managing immense amounts of survey and as-built data, as well as critical project schedules and financials, can only efficiently happen within a trusting environment. In this way, Giganet has empowered Vitruvi to propel their success forward. As Vitruvi deploys a leading Construction Management platform, we know our success is directly aligned with ISPs who share common commitments and values. For far too many reasons to list, Giganet is a perfect example of this commitment. 25

Working with our new procurement function, and in partnership with our supply chain on multiyear contracts, objectives are aligned to our overall business strategy, ensuring that we work at pace whilst continuing to deliver the highest safety and quality standards for all our customers. Working ethically, and with a focus 26

on the environment, together, we’re offering the market to not only upgrade to a better home broadband connection, but to a better level of service all round, taking us one step closer to becoming the best ISP in the UK.” The last word goes back to the importance of building a strong network of trusted partners. Stuart concludes, “It is absolutely crucial to have key partnerships built on trust and safety. Some are transactional,

some are engrained in our business, and some are invested. The key four partners I mentioned are all invested in supporting our strategy and providing our connectivity to all our customers in the UK. They are providing that trusted, safe network, which, in turn, takes us one step closer to being the best ISP in the UK.” For further information, visit www.giganet.uk 27

S PA C E

D i g i t a a i r s

l i s i n g p a c e A space-enabled system to help clear congested skies is going global.

ngineers have tested Iris equipment, exchanging messages in real-time with a flight control facility from a Cessna plane, which took off from Amsterdam Schiphol airport and flew over the Netherlands and the North Sea for three hours. A space-enabled system designed to help clear congested skies while reducing carbon emissions is going global, following a deal signed between satellite communications provider Inmarsat and the European Space Agency (ESA). Passengers will experience fewer delays once the Iris system is fully implemented, and airlines will save fuel and reduce emissions of carbon dioxide. It could even be used to safely coordinate the flights of drones delivering medical supplies between hospitals or aid to remote communities. Air travel is increasing and is expected to return to prepandemic levels within the next few years. It is predicted

“Passengers will experience fewer delays once the Iris system is fully implemented, and airlines will save fuel and reduce emissions of carbon dioxide”

to continue to rise thereafter, which will further increase congestion in the skies, while airlines find ways to become more carbon neutral.

operations inefficient, as planes have to be kept far apart from one another and follow pre-defined air corridors instead of taking the most direct route.

At present, pilots mostly communicate with air traffic controllers by voice or by using an outdated data communication technology. This makes flight

Data exchanges will soon become the primary means of communication, with large quantities of data relayed to and from the aircraft.

The Iris system uses satellites to relay data digitally from the cockpit to the ground, increasing communication capacity and coverage including remote and oceanic areas. This means that flight plans can be continually updated during the flight to maintain an optimal trajectory towards the destination,

minimising the fuel burned and the carbon dioxide emitted. Iris has been fully validated within Europe and is due to become operational on commercial flights across Europe at the start of 2023. The recent agreement means that it is now ready to be assessed and adapted for use in other regions such as Asia and the Americas. 33

Rajeev Suri, Chief Executive of Inmarsat, said, “Capacity crunches are a major issue worldwide – and relying on existing technologies alone won’t solve the problem. Iris will have an enormous impact in Europe as it enters service in 2023, which is set to continue at pace as air travel increases and the push for more sustainable aviation operations grows. “It’s a natural next step for us to expand its remit beyond European airspace and share our spoils with the rest of the world. To beat capacity issues and make aviation greener long-term, as well as successfully integrate unmanned aerial vehicles into our airspace as soon as possible, we need the right technologies on board every aircraft – and this starts with Iris.” Paul Bate, Chief Executive of the UK Space Agency, said, “Iris is a real-world example of how space and satellite technologies can bring huge benefits to global industries, making operations more efficient while cutting carbon emissions. There is great 34

“Iris is a real-world example of how space and satellite technologies can bring huge benefits to global industries” Paul Bate, Chief Executive of the UK Space Agency

potential to catalyse more investment into the space industry by showcasing these benefits, and I’m delighted that Iris was developed in the UK by Inmarsat, thanks to the UK Space Agency’s investment in commercially focused ESA programs.” Josef Aschbacher, ESA Director General, said, “Iris is a major step forward towards creating a more sustainable and efficient aviation industry. It is exciting to see the progress we have made so far – but this is only just the beginning. “Iris Global will extend the benefits of innovation

“Iris is backed by a consortium of 16 European partners, including the European Satellite Services Provider (ESSP), which is leading the certification effort” and operational efficiency beyond Europe to other parts of the world. Reaching carbon neutrality for air traffic management by 2050 will be challenging, but we are hope 36

to contribute through innovation in space to achieve this ambitious goal.” Iris is backed by a consortium of 16 European partners, including

the European Satellite Services Provider (ESSP), which is leading the certification effort. The ESSP was founded by seven national air traffic control organisations from France, Germany, Italy, Portugal, Spain, Switzerland, and the UK. Charlotte Neyret, Chief Executive Officer of the ESSP, said, “The Iris program is a game-changer for the aviation industry,

providing the most advanced new technology to complement datalink communications and meet the challenge of digital, greener and more sustainable air travel. As a stepping stone for the future datalink service provider organisation under discussion, ESSP is proud to lend its expertise on this important program that will deliver a pan-European certified service for the first time.”

Credit: European Space Agency | Source: www.techxplore.com

B U S I N E S S I N T E RV I E W

Jeff Greaney, Head of Investment Risk & Analytics Product Management, and Soundra Saravanan Technology Director, Asset Servicing, at Northern Trust, share insights into the data and digital transformation they have been working on over the last few years.

orthern Trust is a leading global provider of asset servicing solutions to institutional clients including investment managers, pension funds and insurance companies. 39

With assets under custody/ administration of US$15.5 trillion (source: Northern Trust, as at 31st March 2022), its solutions range from fund administration to global custody, investment risk analytics and investment operations outsourcing. Within its asset servicing business, Jeff Greaney leads the team responsible for product management in its Investment Risk and Analytics function (IRAS), while Soundra Saravanan acts as Technology Director across a range of business areas including analytics. The focus of Northern Trust’s investment analytics service is on four main areas. Jeff explains, “IRAS products span investment performance, investment risk, Environmental, Social and Governance factors, and investment compliance. The key for IRAS at Northern Trust is that, as one of the world’s foremost global asset servicers, we manage and safeguard client data. This

Jeff Greaney, Head of Investment Risk & Analytics Product Management

enables us to build analytical solutions on top of that data. “Northern Trust is a serviceorientated organisation, so in line with that approach, all of our clients have a dedicated client service team from our group who support them and ensure they have the opportunity to derive maximum value from our solutions. We support many types of clients, ranging from asset owners, such as pension funds and insurance companies, to global investment managers and family offices.” Jeff and Soundra are currently focused on enhancing the endto-end technology used to deliver investment analytical capabilities to Northern Trust clients. Jeff 42

continues, “As a group, our focus is to support our clients in executing their investment and business strategy, and our solutions help them service their own investors and stakeholders. The support we offer takes two primary forms. The first is around data management. We

offer scalable solutions that look to help clients streamline their data operations and processes, to be more efficient in their management and use of data. The second is delivering greater transparency over their investments via the analytical insights that our clients are able

to generate through our solutions. While we have been doing both of these for a long time, this is a market that is being reshaped by technological developments, so we are evolving to continue to offer these capabilities in dynamic and flexible ways, consistent with what clients have come to expect. 43

GETTING FROM A TO AI The path to data analytics maturity Every business is sitting on a treasure trove of data. But to get from buried treasure to business value, organisations must have the ability to access, analyse, and act on that data. Companies that can harness their data and embed analytics and AI capabilities into their operations are outperforming the rest. The relationship between data analytics and AI can seem murky at times. To clarify, imagine that analytics and AI exist on a spectrum. Moving from the left to the right of that spectrum, we gain the ability to learn from the past and predict the future. A DATA FOUNDATION

AI MATURITY

The path to AI maturity must start with a sturdy data foundation. The ability of a business to move along the spectrum from data analytics to AI depends on the availability and cleanliness of that data. Essentially, insights are only as good as the underlying data on which they are based. When data analytics projects die, the failure can often be attributed to a lack of investment in building a strong data foundation. With a meticulously laid data foundation, you can ready

your organisation to operationalise analytics and, ultimately, tap the value of AI. BDO’S DATA ANALYTICS MATURITY MODEL Too often, organisations do not know where they stand—or what is next—in the daunting process of fully capitalising on their data. The three As of architecture, analytics and AI all need to come together to create the technological infrastructure necessary for data analytics maturation. Beyond these critical technical factors, an organisation’s ability to fully tap its data hinges on its people. Without attention to leadership, culture, and employee upskilling, a company’s workforce cannot support the future state of the business. WHERE ORGANISATIONS GO WRONG Successfully reaching data analytics maturity can best be attributed to getting the right data into the right hands with the right business case. Most failures occur in low to mid-maturity levels, before analytics have fully permeated every aspect of the business—while doubts and discomfort can weaken employee adoption.

1. Getting the right data… Data must be refined, cleaned and governed to set the right foundation. A centralised data strategy and scalable architecture to support the future state of the program is essential.

DESCRIPTIVE ANALYTICS

DIAGNOSTIC ANALYTICS

PREDICTIVE ANALYTICS

PRESCRIPTIVE ANALYTICS

COGNITIVE ANALYTICS

What happened?

Why did it happen?

What might happen?

What should I do?

What don't I know?

2…Into the right hands Once a company puts the right data infrastructure and technologies in place, the question remains: Will the workforce embrace or resist it? It is critical that the data evangelist who champions the data analytics program has the organisational clout and authority to inspire others.

3…With the right business case Reaching data analytics maturity requires investment in people, process and technology. Clearly stating potential ROI from the onset of the project is critical to help leadership and employees across the organisation recognise the value in proceeding. Learn More >

About BDO Digital: BDO Digital helps organisations turn data into an engine of insight and strategic value. Our business analytics and data teams work with you to advance your overall data and AI maturity in increments that address defined business needs and deliver near-term results. We align your data transformation strategy with your business goals so that every initiative leads to better business outcomes.

RICH LAMORENA Principal, Co-Leader Data & AI Practice at BDO Digital USA

JASON KOCH Director, Solution Architecture at BDO Digital USA

“Additionally, on the analytics capability side, you could historically split the industry into those who deliver certified investment analytics – meaning that data has been fully audited and reconciled to an official book of record – and those who deliver indicative investment analytics. While both ‘views’ are useful, it means that many clients have been forced to run multiple solutions.” Jeff explains, “Clients typically generate an official view of investment analytics, but then supplement that with another platform that creates different views of the world that may not align to the official book of record, but still provides them with important investment insights. What we are looking to do is to really give our clients the best of both worlds. Our current focus is to allow more self-service type of analysis with an analytical ‘sandbox’ where clients can create multiple views of data and analytics. “For example, some clients wished to know how their exposure or investment performance would look if, for instance, they wrote their Russian assets down to zero in the 46

“Where we have the skillset to build something, let’s do it. If not, we can collaborate with partners to get us there faster” Jeff Greaney

wake of recent sanctions. Being able to put that type of capability directly in the hands of our clients and letting them get the answer in a matter of seconds, as opposed to hours or days, is what we want to achieve.” Jeff says that a reimagined data management layer will act as an enabler of all of this. He adds, “This is where we are going to pull in all the source data, apply our data quality and control processes, and transform it.” The team provides clients with bespoke solutions that are tailored to each of their own individual requirements. Soundra says, “We take data from multiple accounting platforms and assemble it in

the way that the client finds useful, providing sandbox capabilities, using technology that is purpose-built for that. “We bring our own data management platform that we have built inhouse, along with the cloud scalability, to provide this solution in a cost-efficient way. We are using Microsoft Azure for the cloud, along with other Microsoft PaaS capabilities. We currently have around 900 clients, so we are building this latest platform for scale, so we can onboard even more clients. We also want to be able to consume data from any accounting platform in the future. Solving this threedimensional problem in a cost-efficient way is very interesting.” Soundra highlights that Northern Trust was clear about what it set out to achieve with its transformation journey, but it was vital that it partnered with other 48

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WHY BDO DIGITAL? BDO Digital offers clients the most comprehensive services in strategic technology and business advisory, specifically targeted to the middle market and tailored by industry. We provide a tailored set of people, processes, and experience fit to each client’s specific needs.

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Development X Modern Workplace

App Modernisation

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SOLUTIONS X Application

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X CRM X Cloud X ERP

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Project Management

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& Integration X Demand Creation X

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strategic partners to be successful. He continues, “We partnered with Microsoft and BDO early on to see what combination of technology would bring optimum results. BDO knows the latest Microsoft technology very well, so they worked with us to engineer our solution and help us reach our goal. We then chose some sample use cases from our legacy platform and started testing the results. We have now

Soundra Saravanan Technology Director, Asset Servicing

“BDO knows the latest Microsoft technology very well, so they worked with us to engineer our solution and help us reach our goal” Soundra Saravanan, Technology Director

gone live for some clients with this technology solution.” For the data management solution, Northern Trust partnered with Stradegi Solutions. Soundra explains, “Stradegi has a technology solution we could use as an accelerator to achieve what we wanted in that space. It was key for us to get quickly to where we wanted to go.” Jeff reinforces the importance of

partnering with other likeminded companies. He adds, “Where we have the skillset to build something, let’s do it. If not, we can collaborate with partners to get us there faster. It is a good mix of the things we have built internally, as well as the things we have brought in. “I’ll also add that bringing our clients with us on this journey is essential. We interviewed a number of clients at the start of our program, and along the way, we are checking 51

back in with them to demonstrate our progress and take feedback. We are now at the beta stage for some clients, so we’re excited to get the capability directly in their hands and get even more feedback.” The company already has a very large global footprint, but connecting to different source

to deliver that would give us the option to say, ‘It does not matter where your assets are, from an investments analytics perspective, you can get that top-down view’.” Where clients look for a data aggregation solution, they are typically just buying software, and still have to manage all

“Stradegi has a technology solution we could use as an accelerator to achieve what we wanted in that space. It was key for us to get quickly to where we wanted to go” Soundra Saravanan

data will be the big one from a growth perspective in the future. Jeff continues, “As Northern Trust manages its clients’ data today, that is where all our connections are. If you have a client that has half of their assets at Northern Trust and half of their assets somewhere else, we believe what many clients in this position want is a view across everything from the ‘top down’. The capability

their data internally. This is where Northern Trust can assist. Jeff adds, “We think this is a good place for us to be; where our client can, if they wish, obtain data aggregation, and the data management component is outsourced to an experienced provider like Northern Trust that has global scale, for which this is a core capability.”

by stradegi

Northern Trust selects Stradegi’s ﬂagship product nFlows, a No-Code Business Solutions Platform, at the enterprise level to rapidly conﬁgure and roll out solutions for data management and other business areas.

nFlows: A no-code business solutions platform

Accessible through multiple devices & available as both on premise & cloud-SaaS model

AI A Self-Service themed no-code solution

Enabling rapid rollout of business solutions across business functions & verticals

nFlows is a no-code platform that allows users to build business solutions that solve complex challenges quickly, incurring less cost and without the need for system development or coding. The solution can be conﬁgured for any business domain or function and can be used at the enterprise level.

One platform, multiple applications Sample use cases

Client Management

Opportunities Management

Process Management

Client onboarding KYC (Scalable to KYX)

Opportunities tracking and management

Business process automation

Light weight CRM

RFI/RFP/DDQ management

Project management

Risk & Compliance

Data Management

Reporting

Operational risk management

IM / Enterprise data warehouse

Risk & regulatory reporting

Compliance management

Big data & analytics

Client reporting

Data governance

Management reporting

www.nﬂows.com

www.stradegi.com

Soundra says clients are now increasingly looking for Application Programming Interface (API) capabilities to streamline the exchange of data between their organisations and Northern Trust. He concludes, “A number of clients are asking to access our reporting layer. Some already have a reporting layer 54

in-house, so for these clients, we can offer API solutions to connect them directly to the data. We are working hard on this solution, as well as everything else we have mentioned. It is a very exciting time!” Some clients like to have more control internally over what their

data looks like and how they operate, using Northern Trust analytical tools to support their internal operations; while other clients may want to be as lean as possible and outsource everything, with information being delivered to them through their portal. Jeff says, “We have a whole range of support

models that we offer our clients, but in all cases, we offer the hightouch support that we think is in the Northern Trust ‘DNA’.” For further information on Northern Trust and its Investment Risk and Analytical Solutions, visit northerntrust.com 55

AU TO M OT I V E N E WS

Hyundai Mobis presents the latest automotive innovations in Europe.

orean global automotive supplier Hyundai Mobis is quickly developing its presence in the European market, with technologies for autonomous driving, infotainment and electrification. Last month, the company held a two-day tech show at the JP Beltoise Circuit, a racing track which consists of high-speed tracks, circular tracks and straight tracks, to introduce its next-generation braking and steering technology to European automakers. In addition to showcasing new products, Hyundai Mobis also presented key technologies on demonstrator vehicles. The 27 brand new technologies unveiled by Hyundai Mobis include: AR Head Up Displays (HUDs), Grille Lighting, Swivel Displays, In-Cabin Sensing, In-Wheel Systems, and Rear Wheel Steering systems (RWS).

The show covered all essential technologies in the field of Autonomous Driving, Electrification, and In-Vehicle Infotainment (IVI). These technologies, designed to meet strict European requirements in terms of quality and sustainability, will be embedded on electric cars and 48v mild hybrid cars.

According to Axel Maschka, Head of Global OE Sales, Executive Vice President at Hyundai Mobis, “Hyundai Mobis will increase the number of new orders for our latest products to satisfy the needs of European Customers and mount diverse Tech Marketing campaigns.”

Orders from Europe have doubled every year for the last three years, leading Hyundai Mobis to diversify its order portfolio with AR HUDs, Grille Lighting, and RWS.

In order to further increase touchpoints with customers worldwide, Hyundai Mobis participated in the IAA (international motor show in

“HYUNDAI MOBIS WILL INCREASE THE NUMBER OF NEW ORDERS FOR OUR LATEST PRODUCTS TO SATISFY THE NEEDS OF EUROPEAN CUSTOMERS AND MOUNT DIVERSE TECH MARKETING CAMPAIGNS” Axel Maschka, Head of Global OE Sales, Executive Vice President at Hyundai Mobis

“OUR VISION IS TO BE A PROVIDER OF DIFFERENTIATED MOBILITY SOLUTIONS THAT COMBINE SOFTWARE AND HARDWARE IN THE UPCOMING MOBILITY INDUSTRY”

Hyundai Mobis also set up new key account management organisations in North America, Europe and Japan, and expanded its research and development network of engineering experts from various automotive fields, to best address regional customers’ needs and expectations.

Source: www.aftermarketnews.com

Germany) in September 2021, and in the CES in Las Vegas in January this year.

For further information on Hyundai Mobis, visit www.mobis.co.kr

3D PRINTING

Danish start-up 3DCP Group has built the first 3D-printed concrete tiny house in Europe. 3DCP Group has recently unveiled House 1.0, the first 3D-printed concrete tiny house in Europe. Located in Holstebro, Denmark, the concrete unit was built in collaboration with modular 3D construction printer company COBOD, and Saga Space Architects. Described as the first of its kind, the building is designed to be as affordable as possible, housing all necessary amenities in just 37 square metres. The aim of the overall endeavour is to build better, faster, greener, and to reduce the amount of strenuous work in the construction process.

Image courtesy of COBOD

The small house is composed of triangular volumes, arranged circularly and connected by an open middle core. It features a bathroom, an open-plan kitchen, a living room, and a bedroom. In order to save space, the bedroom was allocated on a mezzanine level above the bathroom. To achieve this, the roof had to be elevated.

According to 3DCP, 3D printing of buildings is the next quantum leap in the construction industry To drive down costs, the entire building, including its roofs and foundations, is made of low-cost real concrete, produced using a large construction 3D printer by COBOD. According to 3DCP, 3D printing of buildings is the next quantum leap in the construction industry. A spokesperson for the company said, “You may already know the traditional plastic 3D printers that you can have at home

in your hobby room. The principle is the same, our printer is just much, much bigger. The way we use the printer to lay the concrete, layer by layer, minimises both waste and the general material consumption, while at the same time, allowing a fusion of many processes and workflows, all of which contribute to the construction progressing quickly and efficiently.” 70

Housing in the futur thousands of individu of a cohesive mass co the needs of t

re will not consist of ual parts, but rather ompletely adapted to the residents

Images courtesy of 3DCP Group

Thanks to years of experimentation, it is now easier to use 3D printing to build soft, organic shapes, which creates a more stimulating and exciting living space. 3DCP adds, “Housing in the future will not consist of thousands of individual parts, but rather of a cohesive mass completely adapted to the needs of the residents. We can now offer this at a price that is far below what 71

it would cost using conventional construction methods.” Architect Sebastian Aristotelis from Saga Space Architects, who designed the house, says, “Our task was to make a small housing unit for students, which should contain all the rooms and functionalities of a normal house, but be so low cost, that even students could afford to live in it. We solved the task by making a design which provides a very effective use of each square metre, still giving the inhabitants the feeling of being in a much larger house by having a large open area in the middle.” The home was completed in just five weeks, but the printer was only active for 22 hours. 3D printing uses 70 per cent less concrete compared to concrete element construction, and CO2 emissions from construction sites can be reduced by up to 32 per cent when using 3D printing. By automating processes and building with construction robots, it is also possible to reduce the man-hours in the construction process by up to 50 per cent. The building is a prototype that will serve as a testing platform to refine the firm’s processes for future projects. Source: www.designboom.com

3D printing uses element construc can be reduced b

70 per cent less concrete compared to concrete ction, and CO2 emissions from construction sites by up to 32 per cent when using 3D printing

Image courtesy of 3DCP Group

B U S I N E S S I N T E RV I E W

THE ROLE OF TECHNOLOGY IN DELIVERING END-TO-END TRACEABILITY Fabian Portmann, Chief Technology Officer at farmer connect, explains how traceability is helping drive forward more sustainable supply chains. wiss-based farmer connect is a global company with employees worldwide, as well as international clients spanning all four hemispheres. At its core, it delivers trusted end-to-end traceability solutions to global supply chains.

Founded in 2019, farmer connect first set its roots in coffee and cocoa, but is now also looking to expand into other commodities. Fabian Portmann, Chief Technology Officer at farmer connect, explains, “Before

you get to the final product, the producer first has to grow the raw ingredients. These then get processed, transported, and further refined. Traceability is the endto-end understanding of where a product comes from, where it passes through, and where it ends up. We can track its entire journey from beginning to end, unravelling all the different stages it goes through before reaching the final

consumer. This helps us understand all the various connections between different actors along a supply chain, giving visibility to the different processes. We believe digital solutions can provide a new way of achieving end-to-end traceability.” farmer connect developed a traceability platform in answer to this challenge. Acting as the single point of access to all farmer connect

“HOW ARE YOU SUPPOSED TO UNDERSTAND, FOR EXAMPLE, THE CARBON FOOTPRINT OR FAIR WORKING CONDITIONS? WE BELIEVE THAT TRACEABILITY IS AT THE CORE OF CREATING MORE SUSTAINABLE SUPPLY CHAINS”

tools, ConnectHub brings the various actors in the supply chain, such as producers, brands and their partners, into a shared ecosystem, which enables increased trust & transparency through end-to-end traceability. So, what has been a key driver in developing this solution? Fabian answers, “End-to-end traceability is now being recognised as a

very important enabler of more sustainable supply chains. If you don’t know where your product is from, who is involved in the supply chain, or how the product was transported, it is difficult to talk about sustainability in general. How are you supposed to understand, for example, the carbon footprint or fair working conditions? We believe that traceability can drive an increased

understanding and is therefore at the core of creating more sustainable supply chains.” ConnectHub is farmer connect’s B2B offering, connected to a consumerfacing product, ThankMyFarmer. Built around trusted end-to-end product traceability, ThankMyFarmer is the consumer's window into learning more about traceable

its services. Fabian explains, “The combination of technologies gives us the flexibility to scale and innovate. We need to build innovative solutions, and this setup allows us to do so. As part of our solutions portfolio, we offer trusted end-to-end traceability solutions. If you have a global supply chain, end-to-end can be extensive. You are essentially

“FOR ENTERPRISES, IT THEN BECOMES IMPORTANT TALK AROUND WHAT YOU ARE DOING IN THE SUPPLY CHAIN. CLAIMS COME EASY, BUT THEY BECOME MORE POWERFUL IF YOU CAN BACK THEM UP WITH DATA, AND THIS IS WHERE TRACEABILITY CAN PLAY A VERY IMPORTANT ROLE” Fabian Portmann, Chief Technology Officer

products. Fabian says, “It is where we allow brands to showcase products that have become traceable. You will find a QR code on the packaging, which you can scan with your phone, and you will be redirected to www.thankmyfarmer.com to learn about the journey of the product. The data that was entered via ConnectHub by the various actors along the supply chain, is what is used to build that story.” In terms of the technology employed, farmer connect is cloud-native, working with various partners for

trying to offer a touchpoint for all actors, from producers to consumers, and these touchpoints can span from just a few to a large set. We develop products in the solution layer of the software stack, and these can be customised to apply to each individual supply chain.” The degree of digitalisation often varies depending on your role and the respective supply chain. For farmer connect, being able to develop a solution that is welladapted to the landscape of 79

smallholder commodity supply chains is key. Fabian continues, “We have a lot of industry expertise in our company, and I think that gives us a distinct advantage – it is built for the industry, by the industry. From a technology standpoint, we have managed to combine and connect blockchain technology and self-sovereign identity (SSI) technology. “The advantage of blockchain lies in creating trust within supply chains because if you have a shared ledger, it becomes a means of sharing data between different actors in a secure and trusted way. Therefore, blockchain is great for enterprise data, but you should not write personally identifiable information (PII) onto the blockchain and share it with other participants. This is where SSI comes in. It provides the individual with a digital wallet, where PII can be securely stored, so individuals can regain control of the information that is about them.” farmer connect has figured out how to leverage blockchain to securely share information between enterprises, and at the same time, connecting it with SSI to empower individuals. Fabian explains, “When talking about cocoa farms, for example, 80

“FARMER CONNECT HAS FIGURED OUT HOW TO LEVERAGE BLOCKCHAIN TO SECURELY SHARE INFORMATION BETWEEN ENTERPRISES, AND AT THE SAME TIME, CONNECTING IT WITH SSI TO EMPOWER INDIVIDUALS”

“TRINSIC HAS BEEN A LEADER IN THE FIELD OF SSI FROM THE START. WE HAVE BEEN PARTNERED WITH THEM SINCE 2019 BECAUSE THEY ARE THE LEADING INFRASTRUCTURE FOR BUILDING IDENTITY PRODUCTS” smallholder commodities quickly come down to the individual, so you cannot treat their data in the same way as you would for an enterprise. Therefore, we link PII with traceability data, fully respecting the privacy rights of the individuals, as well as the enterprise requirements.” Fabian describes two client success stories – Atlantic Grupa and UCC Coffee. He enthuses, “We launched two traceable single-origin products with Atlantic Grupa, under the Grand kafa brand. We succeeded in connecting the consumers to the producers behind their cup of coffee. In turn, this strengthened the Grand master brand image and enabled them to reach a new customer segment. “We worked with UCC around the supply chain of Orang Utan 82

Coffee, making the supply chain traceable via blockchain. It was a fantastic piece of work. We were able to connect the final product back to the origin and, at the same time, showcase the conservation projects that were happening at source. Along with UCC, we won the much-coveted 25th Supply Chain Excellence Award for Food and Drink, as well as the Geek+ Team of the Year Award, making us the joint overall winners of Best Supply Chain in the UK. Alongside innovation and functionality, the judging panel went through a strict fourstage process to determine how the project brought better visibility to manufacturers, outlets and consumers, alongside sustainable practice. We were able to demonstrate leadership in all these areas, which led to this outstanding result.” With the ambition to be end-toend, there is only so much farmer connect can do on its own, so partnering with other companies is essential. As highlighted by Fabian, “We are focused on the solution layer of the software stack, and using the right kind of technology to solve the problem at hand. If we can find a partner that can help us with technology to do just that, then we bring them in. We needed to rethink the way PII is being managed,

Goodbye plastic IDs. Hello digital identity. Issue and verify any credential with a custom digital wallet built on future-proof standards. Start building the future of identity today. 83

stored and shared, and SSI does just that. Trinsic has been a leader in the field of SSI from the start. We have been partnered with them since 2019 because they are the leading infrastructure for building identity products. If you talk about digitising an interaction with a producer, you need to have the means to digitally represent them. We used Trinsic’s platform to build our digital identity product, FarmerID. You as a producer are assigned a digital wallet containing a digital identity, so that you can obtain control over your data and can manage how it is shared in farmer connect’s ecosystem.” 84

In addition, farmer connect works closely with selected software providers, particularly for its blockchain engine at the core of ConnectHub. farmer connect has also partnered with a Brazilian IT boutique consulting company since 2020. Fabian adds, “We have been impressed by the extremely talented team of software engineers and designers.” Looking to the future, Fabian says, “We have built a solid platform and are growing the farmer connect ecoosystem, and will continue to work closely with our clients on solving problems related to

traceability. There is still a lot of work to be done on bringing all the data together, and we really believe that information gathering should be more decentralised. We need to incentivise actors along the supply chain to collect data and then share that data with other participants in the supply chain. We want to empower them, and particularly those at origin, to become digitally active and in control of how they are engaging in the digital space.”

consumer push around sustainability. Consumers are becoming more demanding in asking where their product is from and how it was processed. It is important for consumers to take the responsibility to ask these questions. For enterprises, it then becomes important talk about what you are doing in the supply chain. Claims come easy, but they become more powerful if you can back them up with data, and this is where traceability can play a very important role.”

Fabian’s last word is on supply chain traceability in the modern day. He concludes, “There is a

For further information on farmer connect, visit www.farmerconnect.com 85

TOP 8

Meet the Women Leading Europe’s Fintechs These female founders and CEOs are setting the fintech agenda in Europe. recent analysis by Sifted found that women hold just 28 per cent of top management positions at Europe’s principal neobanks – a trend that seems to be echoed throughout the whole fintech sector. Despite this shortage, however, a small handful of influential female founders and executives are leading the most highly valued fintechs in their respective countries.

France Among the French government’s annual list of the 120 most promising French start-ups, there are only 14 female founders – and two of them are in fintech. That’s despite the government’s move to boost female representation at board level by introducing a mandatory 40 per cent quota for start-ups with over 500 employees or with more than €50 million in sales. Christine de Wendel,

Co-founder and US CEO, at Sundayapp

De Wendel is part of the three-strong founding team at Sundayapp, a payments fintech dedicated to the hospitality industry. Sundayapp enables customers to pay their restaurant bills by scanning a QR code from their table. De Wendel brings some serious start-up and corporate experience to the business. Before founding Sundayapp last

year, she headed up French DIY marketplace ManoMano as COO for three years. Prior to that, she spent almost seven years at ecommerce giant Zalando, where she led French operations, having started her career as a consultant at Bain & Co. Eléonore Crespo,

Co-founder and Co-CEO, at Pigment

Pigment is a SaaS fintech that helps companies with business forecasting, budget planning and revenue forecasting. The company was founded in Paris in 2019, and has raised just short of $100 million to date. Before founding Pigment, Crespo was an investor at Index Ventures, where she sat on healthtech Alan, expense management platform Spendesk, and workplace platform Slite’s boards. Prior to that, she spent three years at Google and two at advertiser JCDecaux. 89

Germany Germany had a record 2021 when it came to fintech funding, and there’s a small but strong cluster of women at the top of some of the fastest-growing start-ups. The country’s first VC firm dedicated to female founders, Auxxo, launched last November. It is likely that some female-founded fintechs will be at the receiving end of a good chunk of capital! Aiga Senftleben,

Co-founder and general counsel, at Billie

Billie is a B2B buy now, pay later (BNPL) fintech, designed as a short-term financing tool to help ecommerce companies manage their cash flow. Last year, it raised $100 million, bumping its valuation up to $640 million, partnering with Klarna to handle the B2C BNPL giant’s business lending ambitions. Senftleben is one of Billie’s three cofounders, and was appointed to the start-up’s management board alongside her two co-founders in January. She has extensive experience as a legal counsel at tech companies, having previously held the role at Paypal, eBay, Funding Circle Europe and Zencap. 90

Switzerland According to Lucerne University’s recent study looking into the Swiss fintech sector, women are markedly underrepresented in top management teams. Women occupy around 9 per cent of top positions at Swiss fintechs, and around 7 per cent of board positions. Melanie Gabriel,

Co-founder and CMO, at Yokoy

Yokoy sits in the SME spend management sector with companies like Pleo, Soldo and Payhawk. The company automates spend management for medium and large enterprises using artificial intelligence, combining expense management, supplier invoice management and smart corporate cards into one platform. It raised a $80 million Series B last month, led by Sequoia, and now plans to expand beyond its current markets of Switzerland, Germany and Austria. Gabriel founded Yokoy in 2019 alongside her four male co-founders, and directs all things brand and marketing in her role as CMO. Before Yokoy, she headed up marketing at Swiss software company Dizmo, and before that, she co-founded a secondhand fashion platform called Armoire Au Revoir. 93

Italy Italy’s fintech sector is years behind its French and German counterparts, with the country only getting its first fintech unicorn in February. But there are still a few notable female figures in the country’s burgeoning ecosystem. Elena Adorno,

Co-founder and COO, at Banca Aidexa

Banca Aidexa is an Italian neobank, founded in 2020, that focuses on sole traders and companies up to €5 million. It has a full ECB banking licence and was founded by finance heavyweights Roberto Nicastro and Federico Sforza. Prior to joining Aidexa, Adorno sat at the top of Société Générale’s Italian arm as Chief Information Officer, and before that, she served as ICT director at FCA Bank. Benedetta Arese Lucini,

former Co-founder and CEO, at Oval Money

Lucini was Co-founder and CEO at Oval Money until it was acquired by ETX Capital last year. According to her LinkedIn, she is working on ‘something new’. Watch this space! 94

Finland Although Finland boasts a female prime minister, it still lags behind other European countries when it comes to female representation in its private equity and VC industry, negatively impacting the number of female founders an investment team is likely to back. Denise Johansson and Monika Liikamaa,

Founded in 2016, Enfuce describes itself as a CaaS (card-as-a-service) platform for card issuing. It is one of only a few female-founded fintechs in Europe, sitting alongside MoneyHub and Juno. Enfuce raised a €45m Series C at the end of last year, and has around 13 million card users on its platform. The two cofounders, Monika Liikamaa and Denise Johansson, are both from a banking background. Liikamaa has more than 20 years’ experience in the payments industry, having previously held leadership roles at Finnish bank Aktia, Crosskey Banking Solutions, and Finnish bank S-Pankki. Johanssen also brings over 15 years’ experience in the payments industry to her role, having held leadership positions at both Aktia and Crosskey.

Source: www.sifted.eu

Co-founders and Co-CEOs, at Enfuce

The COO at Sara Assicurazioni charts the company’s successful digital transformation journey

Michael Voegele, Chief Digital & Information Officer at Philip Morris International, explains why encouraging female representation is more than just a box-ticking exercise.

D a n n y

portance of the digitalisation of or customers, and why cloud he company more scalable.

Danny Berry, VP of HPE Pointnext Services Supply Chain, on the critical role of digital technologies

E X C L U S I V E S

Danny Berry, The Vice President of ointnext Technology Services Supply Chain

Scale up

Stuart Farrell, Chief Procurement Officer at Giganet, shares how the company is aiming to be the best internet service provider in the UK

Driving forward the next generation of European tech giants

ands

sive IT ntinued and efficiency

Capgemini Invent’s Door va and Dico van Dijk talk about sustainability in the wake European Green De

exclusives

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an der Wiel supply chain e of the eal

"The team were professional and diligent throughout" Leigh Feaviour, CTIO for BT’s Supply Chain

"Absolute pleasure working with the Digital Innovation team" Mun Valiji, Chief Information Security Officer at Sainsbury’s

"A highly professional approach" Andy Brierley, Vice President, Cloud Application Modernisation at IBM

"Digital innovation Magazine is a very flexible and professional team" Kim Larsen CTIO, T-Mobile Netherlands

993

EVENT ROUND-UP

HIVE OF ACTIVITY We were delighted to attend Money 20/20 Europe in Amsterdam last month.

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101

oney 20/20 Europe is a three-day event, where the industry's leading Financial Services innovators come together to connect and create the future of money. The Digital Innovation team was there for the first time this year, and we were excited to be part of the action. After a welcome address on the first day, Charlotte Hogg, CEO of Visa Europe, and Daniel Kjellen, CEO and Co-Founder of Tink, took to the Big Picture stage for their first-ever live joint interview, after Visa acquired the European open banking platform in March this year. Charlotte and Daniel took a deepdive into the motivation behind the acquisition and what’s next for the two giants of their fields now that they’re working together. Next up, Anne Boden, Founder and CEO of Starling Bank, explained how the start-up’s

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Tom Barnes Co-Founder and Director Alexander Reay Our Project Director

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“IN A SESSION HOSTED BY NUNO SEBASTIAO, CEO OF FEEDZAI, TITLED ‘FASTER, HIGHER AND INTO ORBIT’, RACING DRIVER SUSIE WOLFF, ROCK CLIMBER ALAIN ROBERT, AND BRITISH ASTRONAUT TIM PEAKE, REFLECTED ON THEIR ACHIEVEMENTS”

strategy is helping it thrive where its peers are struggling, and Stripe then took to the stage, with John Collison, CoFounder and President. With a $95 billion valuation, John discussed the fintech’s plans for further expansion and how to stay competitive in the global economy. In a session hosted by Nuno Sebastiao, CEO of Feedzai, titled 104

‘Faster, Higher and Into Orbit’, racing driver Susie Wolff, rock climber Alain Robert, and British astronaut Tim Peake, reflected on their achievements, shared their unique perspectives, and discussed how these can enrich people’s daily lives and industry collaborations. It was a lively and motivating discussion about understanding and managing risk, and how to believe in yourself and dare to be different.

At The Evolution Stage, companies announced for the first time big and exciting news to the audience; MFS Africa acquired US-based Global Technology Partners (GTP) for $34 million, and Metal Pay is launching in Europe. The second day centred around learnings from the past. Louise Hill, Co-Founder and COO of GoHenry, Yorick Naeff, Co-Founder and CEO of BUX, and Andrew Ellis, CEO of

Mettle, discussed how challenger banks can learn from their predecessors at The Big Picture Stage. Building on the theme of banking, Global Head of Digital Channels & Data Analytics at Standard Chartered, Kahina Van Dyke, then took over for a session on how the rise of fintech is constantly shifting how the incumbents need to act and react. Having been through 105

the experience of building real products for real people across the world, Kahina was able to share what it really takes to succeed in modern banking. Afterwards, Valentin Stalf, Co-Founder and CEO of N26, shared his experiences that led him to found N26 and challenge an industry ripe for change. Amy O’Brien of Sifted held his feet to the fire on what it’s really been like to lead through the ups and downs of international expansion. Valentin even announced N26’s launch of a cryptocurrency product coming soon. NFT is hot topic globally, so that was the talk of the Planetarium stage, while a panel of Ukranian fintech leaders occupied the Big Picture stage, discussing the conflict in Ukraine and how fintech has played its part. The final day kicked off with a debate on Buy Now, Pay Later. Ruth Spratt, UK Country Manager of Zip, Claire Gambardella, Chief Customer Officer at Zopa, 106

“THE AMOUNT OF K EXPERIENCE SHARED W WAS AMAZING TO BE A SHARING MY OWN VIEW IN THE EVER-CHANGING FINANCIAL TECHNOLO GO TO THE N

Alex R Project Director - D

KNOWLEDGE AND WAS IMMENSE, AND IT PART OF IT, AS WELL AS WS ON WHAT’S TO COME G MODERN WORLD OF OGIES. I CAN’T WAIT TO NEXT ONE”

Reay, Digital Innovation

and Alice Tapper from Go Fund Yourself, discussed the technology that’s taken the payment world by storm. Shortly after, Helen Hai, Head of Fiat Business, NFT, Fan Token and Charity at Binance, dissected the digital world, highlighting the benefits of blockchain for removing intermediaries in the art world and beyond. Plus, the Plantarium Stage hosted Ahmed Karsali, Founder of Papara, and Edidiong Uwemakpan, Group Head of Marketing at TEAMAPT, for an important conversation around how growth and expansion in emerging markets go hand-in-hand with digital transformation and a new generation of banked consumers. And finally, what will the UK’s first Digital Sterling pilot look like? This was the big question of the day following the progress made by so many of the world’s central banks. So, what were the takeaways 107

of the Digital Innovation team? Tom Barnes, Co-Founder and Director at iThink Media, said, “The networking was great! Expansion and growth were at the forefront of most of the conversations I had with industry leaders. It was really eye-opening to learn about the different companies’ strategies on how they navigate the digital space. It was great to hear first108

hand how they are able to profit and prosper in the face of the various challenges.” Alex Reay, Project Director Digital Innovation, added, “It was great to attend one of the most prestigious fintech events, talking to people about their stories and the exciting developments we can expect in the next few years within

“THE NETWORKING WAS GREAT! EXPANSION AND GROWTH WERE AT THE FOREFRONT OF MOST OF THE CONVERSATIONS I HAD WITH INDUSTRY LEADERS” Tom Barnes, Co-Founder and Director

fintech and the digital space. The amount of knowledge and experience shared was immense, and it was amazing to be a part of it, as well as sharing my own views on what’s to come in the ever-changing modern world of financial technologies. I can’t wait to go to the next one.”

For further information on Money 20/20 Europe, visit www.europe.money2020.com

See you there next year! 109

IN THE SP OTLIGHT

London insurtech Urban Jungle plans to double its customer base by the end of the year. London-based insurance technology start-up Urban Jungle has raised £16.5 million in its latest Series A funding round. The round was led by North American-based venture capital investor Intact Ventures and Ingka Group, which controls hundreds of IKEA stores globally. The investment was also backed by existing investors, including Mundi Ventures, Eka Ventures, and former Prudential UK CEO Rob Devey.

Founded by CEO Jimmy Williams and former Google developer Greg Smyth, Urban Jungle aims to change the insurance industry by putting fairness and transparency at its core. Talking about expansion beyond its home turf, Co-founder and CEO Jimmy Williams said, “We’re already one of the leading insurance brands for the renters and homeowners in the UK. But our ambition is to become the number one insurance business in the UK and beyond. This funding is a big step towards that, and we’ll use it to rapidly grow our customer base and roll out our simple, fair insurance into other markets in the year to come. It will also allow us to create 100 new jobs in the UK.” The company had raised €9 million in its earlier funding

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“According to the company, it recently hit the milestone of helping 100,000 customers get better home insurance in the country”

round last year. The Series A round brings the total amount raised by the business to £32 million. The insurtech firm will use the funding to rapidly scale its home insurance business in the UK and add new markets. According to the company, it recently hit the milestone of helping 100,000 customers get better home insurance in the country. The platform uses the latest technology to help keep insurance affordable, by offering its customers 100 per cent online

services, or through its use of AI and machine learning to catch fraud. By leveraging the latest in automation, as well as a digital-by-default strategy, the platform has built an impressive business that is positioned for future growth.

For further information, visit www.myurbanjungle.com Source: www.tech.eu 111

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