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Degussa Bank + Celonis

“We were very surprised how quickly and easily you can get insights into your processes, and how easy it is to impress management with Celonis. Management always likes it if something doesn’t require much effort but has a really good outcome.”

Group Lead Process Intelligence & Automation, , Degussa Bank
Industry - Banking Process - Other Region - Europe
12% improvement in
recording consolidation rate

Degussa Bank quickly went from using Celonis’ free Snap plan to being a full EMS customer after seeing immediate value in customer onboarding and compliance. Now they’re using Celonis for their internal control systems, and are finding more use cases all the time.

Degussa Bank isn’t like your usual bank. They’re best known for running ‘worksite bank shops’, small setups located within — or near to — the businesses they serve, so that employees can go to the bank during work hours or on short breaks. They have brought this technique into the digital age by creating the ‘digital bankshop’, which companies can integrate into their intranet, and access banking services digitally.

Degussa is a German universal bank, founded in 1873, and today have around 600 employees, and total assets of around €6.1billion.

Like any bank, they have strict regulations to adhere to, and turned to Celonis to help with meeting these regulations while improving customer satisfaction. 

Using Snap as a springboard to success

Degussa first started their relationship with Celonis in 2019 with a Celonis Snap account — now called the Celonis Free Plan. They were looking for a way to optimize their customer onboarding process, in particular the rates for consolidating orders and their recordings. 

In Germany, banks are required to record all security orders taken over the phone to comply with MiFID II and WpHG regulations. By connecting their systems to Celonis, Degussa Bank were able to quickly and easily identify which recordings belonged to which orders — something that was hard to do due to the lack of a unique identifier across different systems. 

And as a result of using Celonis, they were able to improve their recording consolidation rate by 12%.

“We first started with Snap because we wanted to understand what the tool could do, or what we could do with the tool,” explained Degussa Bank’s Group Lead. “We were really surprised and impressed, and so in 2020 we started using the paid version.” 

Moving on to internal control

While Degussa bank had seen significant value from the insight Celonis was able to provide, there was still a great deal of manual work happening, and they realized Celonis could help reduce the workload on their people. 

They turned the Execution Management System (EMS) on their internal processes and discovered they weren’t using automation to the level they could be. “We were able to improve our automation rate,” the Group Lead explained. “People knew the automation rate in some parts of the process was bad, but we could show it to them, identify exactly where a lot of — often unnecessary time — was spent. This, combined with the ability to show them what it would be like with automation, really encouraged them to embrace the automation.”

And while on the subject of automation, Degussa wholeheartedly embraced Celonis’ Action Engine, using it for things like the generation of control samples for the recording consolidation rate — allowing the users to not only be alerted to potential issues, but to document and often solve them directly in Celonis.

Looking for the next big leap

So, what’s next for Celonis and Degussa Bank? 

“We have really learned a lot in the last two and a half years. So now we know what to focus on and where to improve our processes,” explained the Group Lead. 

“We started with customer-centric processes because we wanted to get quick results for our customer experience. Then we looked at the compliance topics because in banking, it's a really big deal. Now we’re focusing on identifying which processes are similar to ones we’ve had wins with, so we get very quick results. With each new data source that we connect, we almost exponentially extend the possible use cases that we can tackle.””

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