Founded in 1754, Bankhaus von der Heydt is a privately owned bank and wealth management firm, offering traditional and digital banking, securitization and fund services. Based in Munich, Bankhaus von der Heydt is one of the first banks in Germany to offer blockchain, cryptocurrencies trading and custody services for financial institutions, asset manager and fintechs.
The innovative bank was recognized as a “Digital Champion” among German private banks in a 2021 study, of approximately 13,000 companies.
The bank had legacy systems that were not able to address their new business requirements and the dynamic fintech market. The team could not create new applications fast enough by relying on traditional software development platforms and methods. In addition, existing software interfaces were not user-friendly, modern, or mobile.
Bankhaus von der Heydt needed a new platform that would allow them to launch and manage new products, and provide services faster to their clients. They also wanted greater visibility of products and projects across their systems for better operational reporting, compliance, and risk management.
Bankhaus von der Heydt chose to partner with Appian as part of a shift in strategy away from wealth management and private banking to institutional asset servicing, including blockchain and cryptocurrency. With Appian, they automated back office operations and bolstered their IT stack, enabling them to offer services such as data APIs to professional customers.
Before Appian, they lacked unity between their range of disparate assets, securities and fintech solutions. Now, with core banking system integration, they have been able to link their brokerage system and crypto services, as well as fully integrating a KYC process with visibility for partners on one platform.
With Appian, Bankhaus von der Heydt can now customize individual partner solutions in just one day, allowing them to scale the business without increasing headcount.
Additionally, they reduced the time needed to onboard customers from one week to under 10 minutes. This has led to a higher conversion rate and much lower operational costs, giving them a greater competitive advantage.
They are now able to conquer new markets, gain significant market share and deliver new products to their customers 10 times faster than before.