Last December, Deloitte Luxembourg was awarded the ICT Strategic Advisor of the Year prize. We met with Patrick Laurent, Technology Leader, to discuss his team's main strengths, objectives for 2017 and upcoming trends.
According to you, which elements of your application convinced the members of the jury?
We strongly believe the presentation of our technical and industry domain expertise, cutting-edge methodology and highly skilled teams involved in our engagements has demonstrated our strong positioning in the Luxembourgish market for critically strategic projects. Those skills also allow us to intervene more and more in Europe and beyond from Luxembourg, especially when in terms of Financial Services technology.
The combination of broad business insights, drawn from across our global network, combined with deep technical knowledge developed within the local industry, is our main asset to help executives drive business and technology strategy, support transformation and enable business growth.
We have assisted banks with a multitude of strategic engagements, including core-system replacement advisory and implementation (Temenos, Avaloq and ERI bancaire solutions) in Luxembourg and abroad. A recent success story is the roll-out of a largescale banking platform migration for Nordea in Luxembourg.
We have also advised insurers on ICT strategy and enterprise data warehouse implementation, including major platform overhauls.
For EU institutions, as well as the Luxembourgish government, the diverse services provided included project portfolio operationalisation, web portal development and data analytics, as well as strategic projects to provide new services to citizens. In the TMT sector Deloitte has furthermore providing digital strategy and roadmap advisory.
Deloitte has developed critical expertise in many areas required for successful strategy formulation and implementation, ranging from the ‘digital agenda’ to modern technology platform transformation. Infusing this expertise and knowledge into our engagements ensure the strategis are cutting edge.
Our widening partnerships we are actively building, and clients are benefiting from, include strong partnership with the likes of Apple, Oracle, and SalesForce etc.
Our close collaboration with The Singularity University and the establishment of the ‘Deloitte Centre for the Edge’ and the Deloitte University further focuses on the innovative aspects of delivering successfully strategy engagements.
What are your department's main strengths?
For most businesses today, technology has become a critical component to enabling strategy and execution excellence. Following that, one of our main strengths is our ‘Technology Strategy & Architecture’ (TS&A) practices assisting our clients, mainly in FSI and the public sector, to develop and execute technology strategies that drive exceptional business value.
We furthermore have strong experience in ‘Analytics and Information Management’ offering a broad range of solutions e.g. shaping strategy, manage data, deliver information, improve performance, optimise insights etc.
Our technology team also has extensive expertise in the area of ‘Core System Transformation’. We understand that implementing a new core system is one of the most challenging initiatives a financial institution can undertake. With our focus on digital trends, with Deloitte Digital, we have built a strong presence in the market, showing our customers how to put the customer experience at the heart of their strategy and design user friendly and successful interactions through multiple channels with their customers.
What are your top priorities for 2017?
Throughout 2017 our top priorities can be broken down into 3 areas.
Firstly, building on the 2016 digital strategy and transformation capabilities through our Deloitte Digital practice, our aim to further expand our digital initiatives in Luxembourg. We strongly believe the current digital megatrends have created an unprecedented opportunity for CIOs to position both their roles and their service portfolio for greater strategic impact and organisational value-add. Our strategy focuses on working together “As One” – “As One” within our delivery teams, “As One” between our locations and, most importantly, “As One” with our clients to find the optimum solutions. For organisations and CIOs, becoming a digital catalyst is not simply a change in philosophy or mind-set; the tangible implications must also be considered. Through harnessing disruptive forces - along with breakthrough thinking – our “As One” strategy will enable clients to reimagine their place in their ecosystem, redefine their products, services & experiences, as well as retool to engage stakeholders more effectively.
Secondly, during 2017 we will further ‘export’ our FSI technology skills outside of Luxembourg. In doing so we will further develop and leverage the support of our local Centre of Excellence (CoE) focusing on FSI technology.
Our third top priority is to anticipate the coming digital disruption in the Luxembourgish financial services landscape. In this era, CIOs have enormous assets under their control: from applications to infrastructure, from solution sourcing to managing the end-user experience, from planning and demand management to project and financial management. The corresponding responsibility to deliver mission critical services on a continuous duration is also tremendous, and our clients trust us to assist them with the design, delivery and maintenance of their most sensitive platforms. We will manage these CIO’s challenges through the development of Fintech and Blockchain initiatives in Luxembourg, allowing us to position Luxembourg as a Fintech hub.
What are the trends you keep an eye on?
Taking into account that technology drives change in how work is performed, we clearly note a general trend in the market place of putting more and more emphasis on innovation in IT functions and digital technologies, in order to perform work effectively, thoroughly and cost-effecient. Especially digital technologies have started to create a revolution, disrupting many markets in all dimensions, and opening doors full of opportunities to take advantage and to counter some of the disruptive challenges of digital technologies.
The trends we are keeping a close eye on are triggered by this technological revolution.
Firstly, we think about Robotics, helping organisations to improve the effectiveness of their business, by automating and optimising the operational processes.
Blockchain has also become a hot topic. The level of disruption of blockchain – in all industries – is unmatched. We truly believe in the capacity of the blockchain to create an “Internet of Trust” and hence revolutionize most of our existing value chains.
Thirdly, the science of analytics more and more becomes a reality in different types of businesses through Advanced analytics.
A last trend we note is Artificial Intelligence (AI) which is gradually incorporating into organisation’s processes or improve them by augmenting work force effectiveness., with all the related social implicatons which might come together…