Raoul Mulheims (Finologee): Building digital ecosystems in co-creation mode
Raoul Mulheims has invested in Luxembourg's digital sector for more than two decades while writing several success stories, most notably Mpulse, Digicash and finally Finologee. The vision that always guided him: building digital ecosystems to enhance processes and collaboration.
Can you present your company in a few words?
Launched in 2017, Finologee is a fast-growing digital platform operator of robust, readily-available-made, and compliant systems for bank compliance, KYC lifecycle management, as well as mobile and professional payments. Today, we serve more than 100 banks and institutions such as Société Générale, AG2R La Mondiale, Alipay and Raiffeisen Bank. We currently employ around 40 people with the goal of building the new generation infrastructure for outsourcing and managed services operations for financial industry players in Luxembourg. Our strategy: bringing together the right ingredients stemming firstly from proven IT operation frameworks that have served Luxembourg banks, insurance companies and other financial institutions for the past 15 years and leveraging our financial industry IT service provider licence and ISO 27001 certification to remove a substantial part of the outsourcing process burden that financial industry players are subject to.
“We are passionate about building digital ecosystems for the Luxembourg financial industry. “
What are the main trends that influence your activity?
It is not really trends that drive Finologee’s activities, but either specific regulatory requirements that are met with the help of our platform or the quest for more automation to work more efficiently, economically and in a more structured way. Reducing the risk of error and fraud, operational scalability, streamlining processes, improving staff working practices and enhancing the customer experience are the general objectives of our customers to which our products respondly. Hence, they are no longer trends, but in fact necessities that keep businesses running. On our end and in the context of the co-creation processes with our clients, we follow a strong drive for innovation, efficiency and process improvement for this – not to mention a best-in-class outsourcing framework that is precisely tailored to their needs.
How are your customers' needs evolving?
To understand the client's specific needs and pain points, we start every project with a thorough requirements analysis, where we review the existing structures and jointly determine how the current processes can be transferred or integrated. In this phase, it becomes increasingly clear how much our clients appreciate the co-creation mode we offer. This means that we are always ready to adapt to the needs and special circumstances of our clients and are also open to integrating new partners into the processes. Our customers use our products not only through API access to embed functions, components, and data in their own environments, but also as customized products with user interfaces and business management processes that we have developed specifically for them. This flexibility we offer our customers also benefits us: new requirements and adaptations lead to new, innovative ways of thinking on our part.