Inspiration from some of our customer cases

The implementation of EUs DORA regulation has involved significant changes with several new agreements and policy documents, but it is important to remember that the work does not end there. To drive and monitor these new processes and requirements, organizational changes and sometimes entirely new job roles are needed.

Indecap, one of Sweden’s largest independent asset managers, is well aware of these requirements and, thanks to their high degree of digitalization, has long prioritized proactive security work.

To support the tasks that DORA entails, Indecap has chosen to use the tool NINA. NINA has two main functions: the first supports Indecap’s security work by developing key performance indicators for monitoring and oversight, and the second ensures that Indecap’s IT systems have a secure and harmonized system management process.

The clearer framework for IT security work provided by DORA is highly anticipated. Through DORA, a fairer market will emerge where IT security work receives a clearer focus, and market participants who do not prioritize this will fall behind.

We at LeanOn are therefore very proud to support Indecap’s goal of delivering industry-leading IT security to all their customers.

DORA (Digital Operational Resilience Act) is an EU regulatory framework aimed at strengthening the digital resilience and robustness of IT systems within Europe. For most entities in the financial market this will impact requirements in system management aiming to reduce system risks and disruptions.

Based upon LeanOn’s extensive experience and knowledge in the financial industry, we have developed methods to enhance the system management process. Therefore, LeanOn can now offer a service that continuously protects our clients’ systems against known vulnerabilities. This includes automated management of third-party dependencies, source code analysis, increased delivery frequency, and the ability to identify and score vulnerabilities based on priority from global sources.

By collaborating with LeanOn, our clients can be confident about which risk level their systems currently have, enabling well-informed decisions for necessary actions.

DORA compliance made simple with LeanOn

Direct sales of funds have several advantages, not only in terms of margins but also in the opportunity to create a relationship with the customer. At the same time, this is where the problem arises. How can fund management companies create added value and provide good service to customers when resources are limited? Together with Indecap, we developed a digital advisor, or saving robot, that handles it all excellent.

With the digitalisation of society, the habit and acceptance of digital guiding tools has also increased. The digital advisor collects information from the customer and then guides them all the way to the order. With a nice, accessible and interactive way, questions are asked to the customer. Based on the customer’s response, it provides a tailored proposal for funds from your supply that suits and the customer can then trade the funds directly. The robot can be connected already in the onboarding of new customers, or later when a customer needs guidance on their saving.

Our robot is smart and collects data, compiles and matches various parameters against information about the funds. In this way, the customer gets help finding the right funds based on their situation. The solution can be provided independently as a service, but can also be connected to the fund company’s or bank’s existing system. The robot is flexible and adaptable according to the needs and conditions that exist and it can be quickly integrated and deployed.

Johan Rydh, VD på LeanOn

In just 4 minutes, a new customer can be onboarded, create a profile, get suggestions and trade their first funds. For the customer, the experience will be smooth and efficient. Everything can be done at a distance and at times that suit the individual. There will be no waiting times for meetings and no need to go to an office during certain opening hours. The customer journey is uninterrupted, which provides a better overall experience. For the company, this means that the relationship with the customer can be built up without taking up staff and time. In other words, it is possible for fund management companies to have direct sales with really good service to private individuals without having to build or scale up a customer service unit.

The integration was carried out with the help of SAML, Security Assertion Markup Language, which LeanOn previously delivered to several customers. We solved the responsive design for mobile and tablet with Twitter Bootstrap. The assignment also included support for Corporate Action management, contract signing, and aptitude testing following the MiFID regulations.

Peter Falk, Project Manager LeanOn

Time-to-market was central to maintaining a high level of service to fund owners. Thanks to LISA being a ready-to-start platform, we were able to launch the system in just four months from ordering.

Kennet Lövgren, Project Manager at LeanOn

Instead of time-consuming paperwork, which also entails the risks of errors, there is now an online solution that easily gives both compliance managers and IT technicians the proper permissions. Now a bank or other member can easily and securely log in to the portal and place their orders with a high degree of self-service. Digitizing the system was a matter of course, both to offer better customer service and to ensure compliance with the new MiFID II regulations.

Johan Rydh, CEO of LeanOn

One of the banks recently developed a new platform for currency trading. In a project like that, there is no room for mishaps and therefore the bank sought professional consultation from someone experienced and skilled at both system development and finance.

Jan Palmquist at LeanOn has experience of many different trading systems, for example, GENIUM. He has also worked with FIX integrations with most of the Nordic trading systems. Therefore, he matched the bank’s requirements profile perfectly. Jan was hired and in collaboration with the bank’s team, he participated throughout the development phase.

FX trading is system intensive and the requirements for functionality, reliability, and performance are very high. It was fun to be put it to the test and then see the new platform shape into something really good.

Jan Palmquist, Consultant at LeanOn

The customer’s requirements were very high in terms of both security and time-to-market, with a strict deadline of 3 January 2018 when the enforcement of the MiFID II regulations started. The advantages of a mature, stable, and secure platform at the bottom facilitated the work of harmonizing the solution, which was complex with many different flows. By building the new ELIN service based on the LISA platform, many of the functionalities were already usable. It gave us more time to solve the specific ORK requirements in MiFID II and adapt the solution to the customer’s wishes

Johan Rydh, CEO of LeanOn

Developing the existing customer web was not an option as it would require far too much time and money. Since our LISA platform already had a number of the necessary components, we were able to reduce both time-to-market and total cost. After its introduction, LeanOn has continued to develop the platform with several new functions, which among other things, make it much easier to follow the increased requirements in MiFID II.

Peter Falk, Project Manager LeanOn