Cerrix: Driving Digital Transformation with Continuous, Risk-Aware Controls

Alex Hurkmans, Chief Digital Officer, GBI and Paul Bruggeman, Managing Director, Cerrix, CerrixAlex Hurkmans, Chief Digital Officer, GBI and Paul Bruggeman, Managing Director, Cerrix
The Netherlands’ GarantiBank International (GBI)—in majority owned by Spanish bank BBVA and active in the Netherlands and Germany—has committed to a digital transformation journey. When Alex Hurkmans joined GBI as its chief digital officer last year, he was intrigued to embark on a mission to digitize the bank’s processes and transform the organization.

The aim was to deliver more value to the banks’ customers and streamline the risk and process management, and in that course, also create higher engagement. “To achieve this, we have four key elements,” reveals Hurkmans. First, employing methodologies like lean six sigma to enhance end-to-end processes and ensure continuous improvement. Second, implementing an agile methodology to be able to quickly add new features according to changing requirements of the business. Third, building a modular information architecture for the bank. Fourth, and above all, determine focus points and extend business and build strong partnerships with existing market capabilities.”

One of these partners is CERRIX, “which offers a strong proposition for fulfilling our needs for integrating continuous improvement and the required risk management and governance. Apart from this, their easy to use reporting methodologies and workflows allow for solid ‘In Control Statements’ governed by end-to-end process owners,” says Hurkmans.

CERRIX is a Netherlands-based software and consultancy firm which specializes in the realm of risk and process management and employs a unique ‘collaboration for continuous improvement’ approach to solve clients’ problems. “It was exactly this that drives the case of GBI,” says Paul Bruggeman, managing director of CERRIX. Attending to the needs of GBI in their digital transformation journey, CERRIX helps the bank define and map key processes that brought out the organization’s core value proposition to its customers.

In Cerrix, the direct linking of risks, controls, and business processes combined with the various supporting workflows helps clients systematize their operations from an end-to-end perspective

Subsequently, by collaborating with GBI’s key executives, CERRIX helps to identify and specify risks associated with those processes—for instance, risks involved in onboarding new customers—and employ suitable controls to tackle those issues.

In CERRIX, the direct linking of business processes, risks and controls combined with the various supporting workflows, helps clients systematize their operations from an end-to-end perspective. “This will be one of the cornerstones behind the success of GBI’s digital drive,” says Hurkmans. He further explains: “A digital transformation project should be well balanced. On one side, it should aim to constantly automate operations, optimize performance, and better engage employees through their activities. From the other, it should implement sophisticated controls and methodologies to guarantee a secure, compliant, and risk-balanced digital environment. It becomes a tedious, complex, and costly proposition if an organization has to undergo multiple projects to achieve this outcome.”

This is where CERRIX’s collaboration with GBI has been able to strike a line of uniqueness in the banking tech universe. By offering a wide range of functionalities, from risk assessment to controls management, including incident and regulations management, CERRIX broadens the horizon of an otherwise, incomplete digitalization project.

When it comes to future goals, innovation is the only constant for CERRIX. Striding in that direction, CERRIX has recently added a module for GDPR compliance management to its software suite. As a part of their strategy, CERRIX is also rapidly making its presence felt in different parts of the world, intending on transforming the global banking tech industry.