FinovateFall 2012 / Ohpen

Presenter Profile:

How they describe themselves: The mission of Ohpen is to change the world of investments. Ohpen provides a fully automated and integrated multilingual cloudbankingplatform for mutual funds investing and savings accounts. Ohpen uses the Platform for it’s retail brand and offers the Platform as a SaaS (Software as a Service) solution to other financial institutions.

The strategy of Ohpen is simple: exceed expectations. This applies to our clients, suppliers, partners and investors. We are not an average company, do not offer average services and do not want our employees to be average. Everything we do, we do differently and more innovatively, so we can have an impact on the people surrounding us.

One of the most important aspects within our company is the automation of processes, activities and services. Automating and integrating processes and proceedings keeps costs low. This focus on low costs will positively and strongly influence the cost/income ratio.

How they describe their product/innovation: Ohpen developed a fully automated and integrated multilingual cloudbanking platform for the operation, administration, reporting and distribution of mutual funds investing and savings accounts. The website as well as the mid and back office and CRM are integrated in one application. The idea behind the Platform is that it should be possible to offer unlimited scalability, availability, security and flexibility of services. In addition, profound automation of processes and services is key.

The Platform is being hosted in the cloud and therefore is not installed locally at the bank (as all old-fashioned financial institutions do). The choice for this hosting solution will result in a 90% cost reduction.

Use of the Platform will limit the number of employees needed to run day-to-day operations and decrease investment in hardware and software.

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