Case Cases > Financials > MoneYou – EN

MoneYou: banking with just a few keystrokes

Dutch online bank MoneYou is a relatively small organization operating within a large market. Since 2012 not only Dutch, but also German, Belgian and Austrian residents can open an online savings account with MoneYou. Successfully offering online banking services heavily depends on a clever ICT approach. PNA - using its cogNIAM® approach - enabled MoneYou’s aspiration for better and faster development of online banking products at a lower cost.

MoneYou is a part of the ABN AMRO Group and one of the few banks in the Netherlands where customers can easily save or borrow money, and trade in stocks online. At MoneYou customers can easily access their online banking environment from their computer, smartphone, iPad or any other mobile device. Opening a savings account and immediately being able to make a deposit to the new account, or requesting a loan and having the money at your disposal by the next day: it’s all possible at MoneYou. “We can offer these services because, at , the customers are able to perform all their banking needs by themselves, hassle-free. Apart from speed and convenience, the customers also enjoy financial benefits a higher interest rate on their savings accounts and a lower interest rate on their loans”, according to Bjorn Niels, Chief Operations Officer at MoneYou. At MoneYou, it’s all about offering ease of use and quality against low fees. Niels: “We are a relatively small organization with a small core team. We interact with a large number of business partners and are essentially a network organization. The company’s knowledge is therefore dispersed and this makes us vulnerable for those situations where one of our employees leaves the company; a valuable part of our knowledge asset then leaves MoneYou as well. Our prime question was: how can we capture and secure our knowledge? Our second question was: how can we increase the speed at which we develop new products or change existing products when, for example the legislation changes or when we identify a new customer demand which we want to address? In our search for an answer to these questions we contacted PNA.”

Bjorn Niels, COO Moneyou

Efficient development

“We chose PNA because of their fully integrated approach which results in a Single Point Of Thruth (or SPOT): this is a cogNIAM® knowledge base which contains all relevant aspects of our business processes, modelled according to the cogNIAM® approach. The SPOT contains our functional designs and all our process workflows. A prototype can also easily be generated, based on the SPOT knowledge. In a traditional software development process, there are many moments when information is transferred. For example: from the process modeler, to the functional designer, to the application developer. When we are sitting in a circle for instance, and I tell you something and you subsequently tell your neighbor, at the end of the chain we end up with quite a different story than we started out with. That’s very human. Therefore, all handover moments are possible instances in the development process in which misunderstandings can occur, as a result of the way information is usually transferred. We wanted to avoid these misunderstandings in our development process, and with the aid of the cogNIAM® approach, this is possible. By applying cogNIAM®, our people can immediately see a prototype of what the end-product will look like. If, at the spur of the moment, you decide you want it differently, changing the product at this stage is a very straightforward process. This is in contrast with the situation where five developers have already built a substantial part of the system, before you realize you wanted to make changes. This results in a development process which is way more efficient and results in higher quality applications. As a result, MoneYou can deliver new products to market much faster.”

Less dependency

Apart from the cost savings as a result of the more efficient way we develop new products and business processes, there are two additional advantages for MoneYou in cooperating with PNA. First is that, as part of the development process, MoneYou’s knowledge is secured in cogNIAM®, making MoneYou less dependent on their specialists. Niels: “For example; when a customer opens a savings account through our website as compared to using the MoneYou mobile app, the basic underlying process is the same. Now if MoneYou for example decides to ask for the client’s marital status as part of the application process through the website and this is added to the client on-boarding process, this change can, if desired by MoneYou, automatically be implemented in the mobile app’s application process. Previously, the business process manager had to check all the existing processes for possible changes, due to new or changed processes. Now, using the cogNIAM® approach, the business process manager is informed by the tooling about the possible effects that a changed or new process has on existing processes. This means the effects of a business request are immediately exposed. For example; if the government decides to introduce a new law stating a client must be at least 21 to be allowed to open a savings account, we can immediately see which products and processes are affected by this new regulation and exactly what will need to be modified. For our clients – that’s for whom we are in this business after all – this leads to a higher level of service. Since we only have one business process manager position, we don’t want to be overly dependent on this single person’s availability. The risk for the company’s continuity would be too high. In actual fact, the timing to start working with cogNIAM® was perfect, because our business process manager had just accepted a new position outside MoneYou. The new business process manager could jump right in, using the cogNIAM® knowledge model as his starting point.”

A better conversation

A better conversation Last but not least we were able to take the first steps in reaching higher efficiency in the communication between the business process manager and marketing executives within MoneYou. Niels: “Marketing professionals are not used to thinking in terms of processes and therefore they are unable to fully comprehend the implications their question or change request has on the rest of the process or product. Let me explain this with a recent wish communicated by marketing: they wanted clients to be able to upload a picture to personalize their savings account. This seems like a simple and logical extension of the existing product, but should the picture be inserted at the client level or at the account level? These kind of follow-up questions immediately arose when we started modelling the business requirement using the cogNIAM® approach and extending the model (SPOT) already created for savings accounts. Working with concrete examples opens the modelling process to the marketing people and leads to a greatly improved definition of the business wish. cogNIAM® brings focus to the business conversation straight away, allowing us to envisage the real world implications of a decision, which leads to more informed choices. We believe that we have just taken the first steps, and I have strong expectations that we are on the verge of a structurally productive dialogue between marketing executives and business process managers.”

PNA stands for added value for the client

Even though PNA was not hired by MoneYou straight away, cooperating with PNA proved a pleasant surprise for Niels, and in more ways than one. “Initially it remained somewhat intangible what they could actually bring to the table. A pilot project, based on one of our actual cases, really persuaded us.” Niels is very satisfied with the end-result. “I am very pleased with the level of quality of PNA’s consultants. What immediately stood out is the flexibility of their attitude, for example in dealing structurally with new business issues that arose along the way. It was an advantage that they could work with us onsite. Even though it was the aim from the onset to secure our business knowledge, an additional goal was to ensure our business process manager could eventually cope without the help of PNA. Mission accomplished! It was clear that it was never PNA’s objective to maximize the number of consultancy hours it could sell. They were there to provide added value to us, their customer. During the whole course of the project this positive feeling remained with me.”

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