Process automation is a central aspect of digital transformation. Because when it comes to organizational change, it offers a number of advantages. Companies that automate highly manual processes quickly and visibly benefit from greater efficiency and speed as well as a lower error rate and workload. Experts see five major trends in this area for 2022.

Trend 1: The triumph of low-code/no-code tools

Low-code or no-code development environments are designed to enable so-called citizen developers - employees with no programming skills - to program small automations for everyday work themselves. Such tools are popular with many users because they offer companies advantages such as scalability, security or simple application deployment. Given the high demand for new applications in companies and the simultaneous persistent shortage of IT specialists, the use of such tools will continue to grow strongly in 2022 - but not where many expect it. 

Trend 2: Citizen-assisted development on the rise

For more than a decade, companies have expected citizen developers, often referred to as power users, to step in instead of IT professionals - but with limited success. This is because power users focus on solving their own problems during application development. This results in applications that cannot be scaled to the entire company and are not designed for long-term growth. Citizen development projects are thus becoming passé: Citizen-assisted development is taking their place.

The two trends mentioned above - the acceptance of low-code/no-code tools by professionals and the decline in citizen development projects - should be viewed together. The result will be the citizen-assisted development approach: a method in which citizen developers and professional developers use the same tools to work hand in hand on the digitization of business processes using rapid prototyping. "This enables companies to develop applications that are tailored precisely to their own needs - and to do so much faster and more purposefully than in Citizen Development projects," says Philipp Erdkönig, Partner Account Manager at WEBCON, the company that identified these five trends. The company itself offers a low-code platform for the automation and management of business processes.

Trend 3: A damper on Robotic Process Automation

Robotic Process Automation (RPA), or robotic process automation in the true sense of the word, does not exist. What RPA vendors are really selling is the automation of individual tasks - not the automation of a broader process. That's not to say this technology won't continue to be very successful; but companies will find they're asking too much of it. In the coming year, we will instead see more of a combination of RPA and digital process automation.

More often we will see, for example, the automation of data capture or data retrieval in or from legacy IT systems or other information sources using RPAs that do not have any interfaces. This data is then further processed as part of a digitized and thus transparent and efficient business process.

Trend 4: Content management as part of process automation 

Many companies will also rethink the area of content management. For too long, users have been under the misapprehension that it is enough to make content shareable and accessible by centralizing and organizing it. However, this will not achieve true real-time collaboration or true digital transformation. Rather, content should be used as part of a larger process management and automation initiative. In addition to the authorization management and versioning of documents, they should also be made available in the context of business processes, or created and edited accordingly in the course of a process - because documents and other types of content such as tables, technical drawings, etc. are an important part of almost all processes in a company. 

Trend 5: The waterfall model remains

In the waterfall model, software development is supposed to take place in a series of sequential steps, each completed. However, this methodology is now antiquated - especially in light of today's agile development methodologies. These focus more on the continuous delivery of software in rapid iterations and lead to faster results. Some companies are already embracing this type of development in many places. "However, as long as companies hire external consultants and agree on projects at fixed prices, with fixed durations, the waterfall model will unfortunately continue to be used in the foreseeable future - which will have a negative impact on process automation. After all, processes are constantly evolving. So it's better to implement and continuously refine a process automation solution than to treat it as a one-off project that won't be touched after completion," adds Erdkönig.

Process automation no longer imaginable without

"Depending on the industry, companies will adapt the trends at different speeds. But one thing is clear: 2022 will be dominated by process automation - no organization will be able to imagine life without it. This is the only way they will remain viable in the long term in disruptive times like these," concludes Erdkönig.

Source: WEBCON

A new study by the Lucerne University of Applied Sciences and Arts shows: Management of data quality and quantity is also a highly relevant topic in banking. At the same time, many banks state that they do not comment on this topic because this would reveal too much about their business activities. The study was conducted by the Institute of Financial Services Zug IFZ together with BSI (Business Systems Integration AG), Dun&Bradstreet as well as Finnova and msg GillardonBSM. It examined how well banks are prepared for the upcoming challenges in customer management and the upcoming leap in technology. The study analyzed the connection between data management and the resulting opportunities to increase the business success of banks in a sustainable and automated way. It also aims to elicit the challenges and opportunities for banks that arise from qualitatively and quantitatively excellent data management. To this end, the researchers surveyed the largest 70 banks in the DACH region from May 2021 to September 2021.

High data quality and quantity: benefits show up with a delay

"If we look at the size of the participating banks, we see that small and very large banks in particular maintain dedicated teams for customer master data management," notes Nils Hafner, author of the study and lecturer in customer management at the Institute of Financial Services Zug IFZ at the Lucerne University of Applied Sciences and Arts. This could be due to the fact that medium-sized institutions in particular do not yet see the need for consistent data-based management of the customer base as a success factor. The same applies to anchoring master data management in the corporate strategy. "Since the specific benefits of high data quantity and quality only become apparent over time, we assume that banks in the DACH region are just beginning to understand fundamental connections between knowledge in the form of data and skill in the form of successful campaigns," says the study leader.

Data management as part of the business model

When it comes to deriving concrete recommendations for banking institutions from this study, these are not necessarily based on developments within the industry. Particularly in the context of participating in and shaping ecosystems, banks are often not in the position of the orchestrator of such an ecosystem, as the study authors note. These are often shaped by industries closer to the customer, such as retail. Drawing from this, the study recommends that banks increase their knowledge of how to collect, store and analyze key customer data categories. This means in detail:

1. Banks should think about the strategic importance of customer knowledge and thus about the collection, storage and analysis of customer master data for their own business model. This includes an analysis of the current situation, i.e., a customer data quality assessment, and the derivation of measures to increase the quantity and bring the data quality to an acceptable level. Essential here is the formulation of strategic principles for data management, such as the requirement for a complete 360° customer view, the principle of error-free recording "first time right," the establishment of a "single source of truth" or the "golden record," and the idea of "zero maintenance" through a high degree of automation in the quality management of the customer master data.
2. Particularly in the context of the first principle of a complete 360° customer view, it is important to abandon traditional priorities in the touchpoint and channel view of financial institutions. The study clearly shows here that banks still distinguish between the "physical customer" via telephone and branch and the "online customer on the net". However, a holistic customer view can only be established if the "classic-physical" observation of customer behavior is supplemented with the "digital" click behavior of customers in e-mail campaigns or on the net. Only in this way can the interests of the clientele be analyzed holistically.
3. Overall, financial institutions must become faster and better at understanding the lives of their customers. Compared to the insurance industry or retail trade, they are often not in a position to identify and react to changes in their customers' lives in real time and in a fully automated manner. As a result, they are also unable to analyze and leverage customer potential for cross- and up-selling in the medium term. However, if the other sectors mentioned above succeed in doing this, they will take some of the business volume away from the traditional banks.

Finally, it can be stated that banks are still at a surprisingly low level of maturity in customer data management and should urgently develop accordingly if they want to be successful in competition in an increasingly digitalized world.

Source and further information: Lucerne University

The company ownCloud, a specialist for digitally sovereign and secure data storage, sees five central trends for IT security coming our way in the next year. With them, companies and authorities are responding to new challenges and old familiar threats.

1. Companies are rethinking their cloud strategies in terms of digital sovereignty. More and more organizations want to regain their digital sovereignty. That is why they are looking for alternative solutions to the public cloud, especially for software that stores and processes personal data. There is a demand for solutions that can be operated in private cloud environments without compromising user-friendliness and functionality - whether in the organization's own data center or with trusted and certified European service providers.
2. Open standard procedures simplify user authentication. Companies have been using single sign-on and multifactor authentication to authenticate their employees for some time now. Instead of in-house developments, they will increasingly rely on established open standard processes in the future to make their work easier. These include the Open ID Connect standard, which enables an uncomplicated connection to external identity providers such as Keycloak, Ping Federate, ADFS, Azure AD or Kopano Konnect.
3. Organizations are also increasingly encrypting "data at rest." In response to rising security threats and increasing mobile and remote working, more and more companies are adopting zero-trust approaches. In doing so, they are now increasingly restricting the access of their administrators by encrypting data not only on its transmission paths, but also in its stored state on their servers. Access by administrators can be prevented with procedures that store master keys in a hardware security module.
4. Audit solutions support IT security at the application level. An important component of zero-trust approaches is also threat defense at the application level. Companies will increasingly rely on audit trails for this purpose. To enable comprehensive auditing, many applications now record all data accesses and actions. These logs also form an ideal basis for comprehensive monitoring. This is even more true if they can be transferred to professional SIEM solutions that can detect potentially dangerous patterns with machine learning algorithms. 
5. Companies position file sharing against ransomware. In the fight against the growing threat of ransomware, organizations will increasingly rely on file-sharing solutions. After all, the centralized data storage of these systems makes them the ideal platform for defending against such attacks. For example, they can prevent the upload of files with ransomware-typical extensions, automatically block user accounts affected by conspicuous file changes, or reset affected files to their state immediately before the attack.

"In view of the unabated growth in threats, the topics of data protection and security are becoming even more explosive," says Klaas Freitag, CTO at ownCloud. "Companies are also taking unusual approaches and, for example, using systems that do not originate from the actual IT security environment, but whose specific strengths can offer particularly good protection against ransomware attacks.

Source: ownCloud

A large medical technology manufacturer in Germany is now using a scattered light measuring device for surface inspection. The company, which does not wish to be named, manufactures in particular medical products for surgery, such as hip joint implants, for which quality is a top priority. For this purpose, the first such device from OptoSurf was purchased back in 2008, an OptoSurf OS 500. A second followed in 2012. "The decisive factor for investing in our products was the USP's that it offers," reports OptoSurf Managing Director Dr. Rainer Brodmann, listing: "For example, non-contact measurements are made of the entire surface, not just of cutouts, and both polishing quality and defects are detected. The geometry/shape measurements and the short cycle times are also impressive."

Scattered light measuring machine replaces coordinate measuring machine

The scattered light measuring device is used in the last work step in production, directly before packaging in the clean room. In this environment, the goal of the OS 500 is to move away from the visual 'good/bad' evaluation to a traceable measurement. In the past, a visual inspection of the highly polished surfaces was also carried out by two independent persons. However, this was very tiring for humans, so there was a significant risk in terms of reliability in defect detection. With the OptoSurf system, it was also possible to replace the time-consuming tactile form measurement with a coordinate measuring machine with optical form measurement.

Surface quality as a critical factor

The surface of a prosthesis head is of great importance in the manufacture of artificial hip joints. It should have an ideal spherical shape, no scratches or other defects and the roughness should be in the range of a few nanometers. Excessive roughness of the polished ball and even the slightest deviations in the macrogeometry lead to increased wear. Even the finest scratches can significantly promote abrasion. These substances penetrating the body are potential allergy and disease triggers.

The scattered light measuring machine from OptoSurf is capable of measuring the entire surface of the prosthetic head in the range of seconds. The measuring machine consists of a swivel and rotation module that guides the scattered light sensor over the surface, recording 2,000 measurements per second. Comparative measurements with a confocal microscope have demonstrated that the scattered light sensor can be used to repeatably measure the finest polishing quality differences in the nanometer range and scratches that are no longer visible to the eye. Shape deviations above the pole and equator are detected with an accuracy of < 0.2 μm.

Measurement according to ISO 17025

The roughness and form measurement with the scattered light technique is a traceable measuring method, which is secured with standards and ISO 17025 certificates. Both metal and ceramic heads can be measured. "In addition, in the first step we further developed the OS 500 based on the customer's extensive requirements profile. This was followed by various subsequent technical as well as normative requirements, which we also implemented," summarizes Dr. Rainer Brodmann. "After we fulfilled all the wishes of the medical technology manufacturer, the result is absolutely impressive: A significant increase in productivity thanks to our scattered light measuring device."

Source and further information: OptoSurf GmbH

Security researchers at Check Point Research (CPR), the research division of Check Point® Software Technologies Ltd. have published the latest annual comparison of cyber attacks. The basis for the evaluation is the company's own ThreatCloud, which is networked worldwide. This cloud collects global cyber attack data, which is then analyzed to ensure that all Check Point products are updated with the latest protection measures. The research team consists of more than 100 analysts and researchers who collaborate with other security vendors, law enforcement and various CERTs.

Healthcare providers under constant fire

The latest figures from 2021 show: Everywhere, the number of attacks on corporate networks increased sharply. In Switzerland by 65 percent, in Germany by 62 percent and in Austria by 117 percent. In terms of industries, healthcare providers in Switzerland were under constant fire and saw a 107 percent increase compared to 2020, followed by finance/banking at 98 percent and government/military at 86 percent. Europe as a region saw an increase of 68 percent of all virtual attacks - in percentage terms, this is the strongest compared to other areas, even though Europe and North America are still relatively "safe" in terms of absolute numbers.

Log4J vulnerability caused cyber attack attempts to increase

Security researchers saw a late peak in December because of the Log4J vulnerability, which affects nearly every system in the world. According to Omer Dembinsky, Data Research Manager at Check Point, "The number of cyber attacks peaked towards the end of the year, largely due to attempts to exploit the Log4J vulnerability. New penetration techniques and workarounds have made it much easier for hackers to carry out malicious intent. Particularly troubling is that some important sectors of society are high on the list of those most frequently attacked. Education, government and healthcare made it into the top 5 globally."

"We are in a cyber pandemic".

The number of cyber attacks will not decrease, Omer Dembinsky is convinced of that. And he chooses drastic words: "I expect all these numbers to increase in 2022, as hackers will seek new methods to carry out attacks, especially ransomware attacks. We are thus in a cyber pandemic, if you will. I recommend that the public, especially in the education, government and healthcare sectors, familiarize themselves with the basics of protecting themselves with IT. Various measures, such as applying patches, segmenting networks and training employees, can already make networks much more secure."

Source: Check Point

According to Economiesuisse, around 70,000 people in Switzerland are currently in isolation, and over 31,000 are in quarantine. The number of cases is increasing, as reported in the daily bulletins of the FOPH. The 7-day average of case numbers is 21,189 cases, according to the latest data as of January 7, 2022. The number of people in isolation or quarantine is expected to increase even further. The discussion about the duration of the quarantine obligation is getting louder.

Mandatory quarantine and isolation cause productivity reductions

Staff shortages are already a problem for certain companies, and they have to curtail production or reduce their offerings. In the public transport sector, for example, the Zurich public transport company has currently suspended streetcar line 15. The business umbrella organization Economiesuisse expects these bottlenecks to worsen in the coming days. Therefore, the cost-benefit ratio of the current rules regarding isolation and quarantine should be questioned, it demands. Currently, the federal government stipulates that isolation must last ten days. Nevertheless, many cantons have reduced the duration of contact quarantine to seven days.

New insights into the contagion phase

In Economiesuisse's opinion, the USA is a step ahead of Switzerland in this respect. On December 27, 2021, the CDC (Center for Disease Control and Prevention) health authority shortened the duration of isolation and quarantine. Infected people in isolation after a positive test and people in contact quarantine will be able to move freely after five days if they are symptom-free. The CDC based its decision on current scientific findings, according to the statement. This means that the majority of infections occur in the early stages of the disease, i.e. one to two days before the onset of symptoms and two to three days after. Therefore, the CDC believes that a five-day period is sufficient to sufficiently reduce the risk of infection posed by an infected person.

Prevent unnecessary restrictions and downtime

In contrast to the CDC, the federal scientific task force is still critical of the shortening of the quarantine requirement. Nevertheless, some experts question the current procedure and even consider a complete abolition of the quarantine obligation to be appropriate. Economiesuisse is calling for at least a nationwide reduction in quarantine and isolation to five days for people who are symptom-free at this point. This could reduce the risk of production stoppages and should lead to fewer restrictions on the supply of infrastructure. It would also allow the population to resume their daily lives sooner. This should help motivate people to support the measures and actually get tested if they have symptoms, writes Economiesuisse.

Source: Economiesuisse

The aim of the General Data Protection Regulation (GDPR) was to give EU citizens more control over their data and privacy. It was introduced in 2018 and also applies in Iceland, Liechtenstein and Norway, which are not EU members but belong to the European Economic Area EEA. Swiss companies are affected by the GDPR insofar as they are active with branches in EU countries. So in the event of violations, they too could be fined under the GDPR. A new Swiss data protection law (see box) awaits after long discussion for its entry into force - possibly in mid-2022.

Record high fines in 2021

Data security services provider Atlas VPN has calculated the DSGVO fines in 2021. According to their data, these amount to over €1 billion, with a total of 412 fines imposed in 2021. The companies that had to pay the highest fines for violations of the GDPR include global companies such as Amazon and WhatsApp, but also various national telecommunications service providers. The extent to which Swiss companies also had to pay GDPR fines is not clear from the information provided by Atlas VPN.

In 2018, when the EU implemented the GDPR law, a total of 436,000 euros in fines were imposed on companies. The next year, 2019, the amount of fines increased significantly to 72 million euros. Then in 2020, the total value of fines imposed by the end of the year exceeded 171 million euros. However, 2021 far surpassed previous years, producing GDPR fines of more than EUR 1 billion, an increase of 521 % from the previous year.

Amazon Europe Core S.à.r.l. had to pay the highest fine in 2021, €746 million. Later, in September, the EU fined WhatsApp Ireland Ltd. 225 million euros, the second-highest fine in the history of the GDPR. Vilius Kardelis, cybersecurity writer at Atlas VPN, can be quoted as saying, "The GDPR continues to successfully hold companies accountable when they misuse people's data or are unclear in their privacy policies. Companies have become more responsible in handling their customer data to avoid hefty fines from regulators, ultimately benefiting all EU citizens." So the efforts to improve data protection seem to be starting to bear fruit.

DSGVO buses in country comparison

In some countries, the updated data protection laws had a significant impact on companies, as they were subject to appropriate fines under the new system. In Spain, for example, 351 fines were imposed, amounting to EUR 36.7 million. The average fine is around EUR 105,000, which means that Spain has collected by far the most fines compared to all other countries. The biggest "sinners" there turned out to be various telecom providers, above all Vodafone Spain, which had violated the GDPR regulations several times with various marketing activities.

Italy is in second place with 101 GDPR fines, for which companies had to pay almost EUR 90 million. The average fine in Italy in 2021 was around EUR 887,000, which is one of the highest compared to other countries. In our southern neighboring country, TIM, a large telecommunications service provider, was also asked to pay. The company had to pay a fine of 27.8 million euros for improper collection and dissemination of data.

Third on the list is Romania, which has imposed a total of 68 penalties that add up to 721,000 euros. Although the country has imposed many penalties, the average is less than 11,000 euros.

Source: VPN Atlas

New data protection law in Switzerland

Switzerland is also getting a new data protection law. This was adopted on September 25, 2020 and is expected to come into force possibly in mid-2022. It is essentially based on the EU's GDPR and aims to increase transparency in the exchange and processing of personal data, promote the personal responsibility of data operators, and strengthen data protection supervision by the Federal Data Protection and Information Commissioner (FDPIC). The new Swiss data protection law also brings an expansion of the penal provisions with fines of up to 250,000 Swiss francs.

On January 6, 2022, the Swiss Federal Office of Energy awarded the Watt d'Or energy prize for the 15th time. The prize, which is not endowed, honors exceptional achievements in the field of energy. The trophy - a snow globe - was presented on a smaller scale this year due to the pandemic situation. The jury for the Watt d'Or 2022 was chaired by St.Gallen National Councilor Susanne Vincenz-Stauffacher. 

Winner of the Watt d'Or 2022

A total of 31 organizations submitted projects that were evaluated by a team of experts. Finally, 11 entries were nominated for the final round. From these, the jury has now selected the winning projects in the four Watt d'Or categories, although: this year there is no winner in the mobility category. This year, SBB wins the prize in the "Energy Technologies" category, Verora AG from Edlibach ZG in the "Renewable Energies" category and schaerraum AG from Horw LU in the "Buildings and Space" category.

Intelligent load control against power consumption peaks

SBB received an award for its intelligent load management to counteract electricity consumption peaks in the interval timetable. The system uses load management software developed in-house. This software switches off train car and switch heaters for a short time in the event of load peaks, which can occur repeatedly due to the high frequency of the timetable. In this way, SBB makes consumption more flexible and, as a "prosumer," optimizes the interaction with electricity production. By 2023, SBB will be able to flexibly control 70 megawatts in this way. In this way, it is also taking on a model role for Switzerland's general power grid, according to one of the jury's conclusions.

Vegetable carbon stores CO2

The moraine region of Menzingen/Neuheim (Canton Zug) is home to a nucleus for the still young negative emission technologies (NET). Since 2012, Verora AG, a group of farmers from the Zug mountain region, has been producing plant charcoal from natural tree and shrub cuttings here. Over the past 10 years, the Verora AG team has developed the necessary pyrolysis plant from a prototype by German university spinoff Pyreg GmbH into a reliably functioning production plant. As a feed additive, the plant carbon reduces the formation of greenhouse gases during the digestion of cows, it reduces the smell of ammonia in the barn, increases the nutrient content of fertilizer and compost, makes agricultural soils more robust and fertile, and binds CO2 in them for centuries.

Also awarded the Watt d'Or 2022: Climate-neutral commercial and residential building

Wooden buildings are increasingly becoming an economically attractive alternative to conventional construction methods. schaerraum AG from Horw in Lucerne has built a climate-neutral commercial and residential building based on the modular planning principle "RaumRaster". The principle is based on a wooden skeleton that stands on a concrete base and bears the entire load of the building. Thanks to flexibly combinable modules, the construction time was significantly reduced: The building was constructed in just eight months. The building technology also conserves resources and costs: the smart coupling of the air-conditioning technology with the energy piles, the heat pump, the solar systems on the roof and carport, and a battery storage system means that the building produces around 50% more energy than it consumes. In the eyes of the jury, schaerraum AG's "RaumRaster" planning principle for the construction of multi-family houses made of wood is a promising approach to building in a climate-friendly, resource-saving and cost-effective way.

Source: Federal Office of Energy

In plastic molding or injection molding and 3D printing, systematic geometric deviations of the products occur due to the process. The software module FormCorrect is an integral part of the measuring software WinWerth^® from Werth Messtechnik in Giessen (Germany) and enables product optimization with the aid of largely automatic correction of the CAD model. Process optimization with often only one correction loop can significantly reduce development costs.

More operating comfort

Now the range of functions has been expanded to allow even more flexibility. The extension of the visualization options grants an increased ease of use. To check the parameter selection, the relevant measuring points as well as the original and expected remaining deviations can be displayed before the correction. Since the correct alignment of the measurement point cloud to the CAD model is a prerequisite for a good correction result, the deviation element can now also be displayed and checked. In addition to the measuring points, other visualization options can be shown and hidden. With the help of the cylinders for point selection, the resolution of the correction can be checked. The arrows within the cylinders show the respective deviation and can also be hidden for a clearer display.

Correction process becomes clearer

In the expanded version of FormCorrect, elements that are not functionally relevant, such as lettering and ejector marks, can be excluded from the correction. Multiple measurements can now also be taken into account when calculating the deviation element, so that efficient correction with small remaining deviations from the CAD model is possible even in the case of a large process scatter. The correction can be performed after the parameter definition for all desired patches. The separation of the two processes allows a better overview of the correction process.

Plastic molding: Correction directly on the mold CAD model

In addition to the workpiece CAD model, the correction can also be performed directly on the tool CAD model. In this case, too, the measured deviations of the workpiece from the workpiece model are mirrored on the latter to calculate the deviation element, since a corresponding surface exists in both models. This is the surface where the workpiece and mold touch during injection molding. The difference between the correction of the workpiece model and that of the mold model is therefore only whether the material must be removed or added. For example, if the workpiece is too wide, material must be removed from the workpiece and material must be added to the mold.

Source and further information: Werth measurement technology

The prevention of money laundering and the prevention of money flows to terrorist organizations have gained a high level of public attention in recent years. Although financial institutions spend billions annually to keep pace with increasingly stringent and extensive regulatory regimes, compliance with Anti Money Laundering (AML) and Know Your Customer (KYC) regulations poses strategic challenges for banks.

Know Your Customer processes as a cost factor?

The results of the latest "Know Your Costumer" study by Strategy&, the strategy consulting firm of PwC, show that banks could save up to 65% of their AML and KYC operating costs with an efficient, network-oriented approach. This is because targeted measures to increase productivity and reduce factor costs can in many cases simplify processes, reduce costs and improve the customer experience, according to a finding of the study, which took a close look at the Know Your Customer processes of various financial institutions.  

Globally, banks paid approximately 21.9 billion Swiss francs (€23.2 billion) for AML/KYC sanctions and related legal fees from 2015 to 2019. This represents a 26-fold increase compared to spending between 2005 and 2009. In Europe alone, banks incur an estimated 11.4 billion Swiss francs (€12 billion) in annual operating costs to maintain and ensure KYC compliance processes. In addition, there are further technology expenses of around 6.6 billion Swiss francs (€7 billion) per year. Only 20% of the costs are incurred for the enrolment of new customers and their data collection, whereas a full 80% are incurred in carrying out scheduled and ad hoc checks on the personal and business data of corporate customers. It is particularly striking that most of the costs are incurred by large international groups among corporate clients, even though their number in the overall portfolios of banks in the European core markets is manageable, for example in comparison with small and medium-sized enterprises.  

Dissatisfaction among corporate customers

Corporate customers themselves also express dissatisfaction with the status quo - they would like to see uniform procedures from their house banks and more convenience, e.g. in digital interaction, the study found. Eight out of ten banks are already implementing notable KYC optimization programs, yet 54% of the companies rate their experience with KYC processes as negative.  

Across the board, financial institutions are already working internally on processes to improve their response to future directives and efficiently manage their own KYC processing capacities. In addition, banks are also commissioning external service providers to take over certain KYC tasks or are using regional "utilities" that bundle data management for several institutions. Numerous networking approaches have also emerged in the market to facilitate data exchange between banks, corporate clients, regulators and data providers within an easily accessible ecosystem. While the results of the study show that coordinated multiple use of existing data sets, automated fill-in formats, targeted staff training and the employment of KYC analysts in low-cost countries can save up to 65% of the current start-up operating costs for AML and KYC measures, the key benefits can only be realized through a "best of breed" approach with the empirical values of all measures already deployed. 

Cross-border KYC networks as a solution

To achieve this requires a cross-border KYC network that connects banks, their corporate customers and data, regulators as well as other service providers via specific access points. At the heart of this network are corporate customers and their seamless customer experience. They can centrally control their data using digital solutions and securely share it with selected banks on demand. Fundamental to the reusability of existing KYC data assets is the development of a common data standard recognized by national and international regulators and the ability to share data securely across borders. Regulators can also play a role in the network, providing a useful means of monitoring compliance. With the possibility of flexible scalability, the network could be expanded to include additional service providers to introduce new services tailored to banks and corporate clients. 

"The model will be successful if the network is used in a variety of other ways by companies and banks in addition to standardized and international KYC data management. Numerous applications are conceivable, for example, for the identification of players along the supply chain of companies, for the exploitation of information across several companies in a group or even for the cross-industry provision of data for business transactions. Only in the free exchange of all participants can efficiency gains fully unfold and new offers and services emerge," explains Markus Weiss, Director at Strategy& Switzerland. "By increasing the level of digitalization and automation of all processes and using technologies such as blockchain or artificial intelligence, banks can additionally improve the efficiency of their overall business activities." 

Source: Strategy&

We know it from our daily trip to the supermarket: fruits and vegetables are mostly wrapped in plastic, often even individually, such as the cucumbers tightly covered with plastic film. Of course, such plastic packaging protects the fruit and vegetables from spoiling, but it also generates considerable amounts of waste. Together with Empa, Lidl Switzerland has now developed a protective cover for fruit and vegetables based on renewable raw materials, in other words a kind of "eco-jacket". 

An "eco-jacket" instead of plastic film

After more than a year's work, researchers at Empa's Cellulose & Wood Materials laboratory can now present a special protective cellulose coating that can be applied to fruit and vegetables. The result: the coated fruit and vegetables stay fresh significantly longer. In tests, for example, the shelf life of bananas was extended by more than a week. This significantly reduces food waste. "The big goal is that such natural coatings can replace a lot of petroleum-based packaging in the future," says Gustav Nyström, head of the research department.

Source and further information: Empa

The world of work has changed radically in the last year and a half. The pandemic has both spawned new trends and accelerated existing ones in such a way that we now find ourselves catapulted into a completely new HR landscape. While 2020 was all about quick turnarounds, temporary fixes, and for many, adaptation for sheer survival, in 2021 we've seen companies use the lessons learned in the early months to boldly implement long-term change. As a result, the future of work has changed forever - and so here is my prediction for top trends for business and HR decision makers for 2022.

Forecast 1: Red card for 9-to-5

Full focus on flexibility! New flexibility has become the paradigm, whether realized through hybrid forms of work or full remote working. Over the past year, employees have come to know the freedom of no longer being tied to a specific location to complete their tasks. What initially took some getting used to for many has now become the law. Traditional notions of presenteeism have finally proven irrelevant.

Companies that resist this change will have little chance of prevailing in the war for talent. A survey from the Opinion research company Civey on behalf of EY Real Estate found that 90 % of people would like to work remotely, at least part-time or full-time. In addition, a new wave of resignations is emerging across Europe, of employees leaving their jobs in search of greater flexibility and a sense of purpose. This is challenging companies to rethink and move away from a corporate culture or working time strategy where employees are measured by their presence from 9am to 5pm.

I predict that the number of companies offering more flexibility in terms of how and where employees want to work will increase dramatically. And even the most traditional industries will adapt to this.

Prediction 2: Rejection of the fixed place of work

More knowledge workers have moved in the past 20 months than ever before, and this trend is set to increase. According to a Bitkom study one in five professionals (21 %) would move if they worked mostly from home in the future. And this opens up great opportunities for employers who are flexible in their choice of work locations. Remote work has a huge impact on the mobility of talent.

But to make location-independent collaboration successful, companies need to rethink their talent strategies and collaboration tools. After all, employees in different locations need different tools. Recent Investigations of Dropbox with the collaboration of Enterprise Nation found that video conferencing, cloud storage, file sharing and simultaneous editing software, for example, were business critical for business continuity during the pandemic.

I predict that the market for simple, easy-to-use document workflows that eliminate or reduce friction in globally distributed, location-independent work will continue to grow strongly.

Forecast 3: Clear extension of asynchronous communication

When the pandemic first hit, staff everywhere were quickly gripped by 'zoom fatigue'. Days of video calls sapped our energy - and most importantly, they got in the way of meaningful work. Unnecessary meetings are one of the biggest disruptors to a productive and effective workday, and it's up to all of us to change that. By encouraging employees to remove all unnecessary meetings from their calendars and schedule live conversations more intentionally, employees can more easily shift from "all-day synced" to "asynchronous by default," bringing more flexibility and greater focus to their day. However, the importance of live conversations remains - and the magic lies in teaching employees how to recognize when a quick zoom or phone call is (still) of value. To support this, new frameworks such as the "Core Collaboration Hours" is needed. By establishing clear time slots for asynchronous and real-time collaboration, employees can work more effectively with their colleagues across time zones, while freeing up valuable time to focus on their favorite projects and personal lives. I predict the companies that take the step to change their culture towards "asynchronous as standard" will have the best success in attracting new talent!

Personnel management: From referees to playmakers

In the last 20 months, the role of HR has also changed dramatically around the world. Before Corona, HR was a necessary corporate department, often just keeping things running smoothly behind the scenes. But as the world of work has changed, so has HR. In these unprecedented, challenging times, HR leaders have navigated the ship through the storm, finally earning a well-deserved seat at the leadership table. Now that their value as strategic thought leaders has been proven, their influence will remain recognized beyond HR. I clearly predict that by 2022, many more HR leaders will be involved in business decisions across the board, and their role will change from outside referees to true game changers.

To the author:
Laura Ryan is Director of International HR at Dropbox, the content collaboration platform that helps organize work in the new world of distributed work. Laura Ryan has more than 16 years of experience in the HR industry.