Discover the transformative power of tokenising real assets

in the investment market with our advice and solutions.

We take your assets to the next level with customised advice. Our expertise ranges from comprehensive advice on digital asset business strategies and business opportunities based on distributed ledger technology (DLT) and blockchain to the tokenisation of assets and the smooth implementation of smart contracts. Our range of services includes DLT-based market infrastructures as well as pioneering custody and analytics solutions. We are here to help you innovate and increase efficiency

Tokenisierung von Assets

Tokenisation of Assets

Discover innovative solutions to transform traditional assets into digital tokens and create new trading, liquidity and investment opportunities with us. Our experts offer customised advisory services and solutions, supported by first-class partners. Whether it’s real estate, artworks, businesses or other assets, we’re with you every step of the way. From comprehensive analysis and tokenisation review to legal, regulatory advice and technical support for token creation and management. We optimise your knowledge and investments with a seamless transition into the world of digital assets.

DLT Marktinfrastruktur

DLT Market Infrastructure

DLT market infrastructures are essential for the issuance, trading and management of digital assets. This includes platforms, settlement systems and custody solutions. Our offering includes comprehensive consulting, integration and development services. Our expertise spans all aspects of digital asset platforms, settlement and custody systems to provide customised solutions for your industry.

We help you harness the transformative power of distributed ledger and blockchain technology to optimise your business processes and strengthen your competitive position.

erwahrungsloesungen

Custody Solutions

A reliable custody system for digital and crypto assets is essential to ensure the security of your assets and protect the integrity and confidentiality of transactions. We offer expertise in asset management, from advice to seamless integration into your infrastructure. In this new financial era, we understand the complexity and offer customised services, from the development of secure wallets to the integration of cutting-edge technologies. Together with our partner network, we deliver innovative solutions that meet your needs and help you realise the full potential of your digital assets.

regulatorik

Regulation and Governance

Compliance with regulatory requirements, governance structures and legal requirements is crucial for digital assets. These factors directly shape the design of infrastructure and smart contracts. Thanks to our partner network, we offer comprehensive consulting services. Our aim is to develop customised solutions that not only comply with the regulatory framework, but also ensure the smooth integration of infrastructure and smart contracts in order to exploit the full potential of digital assets.

kryptowaehrungen

Digital and Cryptocurrencies

Our comprehensive services include consulting, development and integration for digital and cryptocurrencies. Thanks to our broad partner network, we offer innovative solutions in the field of CBDC (Central Bank Digital Currency) and CBMT (Central Bank Money Token). Whether you need customised advice on implementation or individual development and integration – we are shaping the future of finance together. With our support, you can realise the full potential of your financial strategies.

Digital Asset Advisory-2

Digital Asset Advisory

Our consulting services in the area of digital assets for financial and capital markets offer customised strategies for scaling and interoperability of business models. We support you in the seamless integration of your corporate strategies into the daily investment business and optimise downstream processes. Our focus is on providing you with innovative solutions that enable you to operate successfully in an ever-changing market and position your company for future growth.

Sarah Rentschler-Gerloff

“Digital assets and tokenisation are key topics as they are shaping the future of the financial sector and the economy and revolutionising the way we hold and trade assets."

Sarah Rentschler-Gerloff

Head of Digital Assets & Custody

Intelligence in your Company for a Quantum Leap

in Productivity and Competitiveness.

Artificial Intelligence is the fourth production factor and at the heart of the fourth industrial revolution. Intelligent machines are game changers in every aspect, enabling us in ways no classic machine can. AI helps us to cure complex diseases, to discover new materials with features far beyond of what we know today. AI searches for new battery designs and helps us optimize all our processes.  

However, this quantum leap is not trivial and requires a well designed AI-strategy balanced with a comprehensive AI-governance and a deep going expertise in the very dynamic field of machine learning.  We help our clients to unlock the full potential of AI productivity in all aspects to achieve exceptional results. We are AI-Integrators intelligizing our clients businesses based on cutting edge products and solutions. And for  those clients that demand exceptional performance and novel capabilities we are AI-Innovators, creating solutions way beyond the state of the art.

AI Strategy

AI Strategy

Having the right AI-Strategy is indispensible for every business, today. We help you to create the perfect intelligization strategy that is the right one for your business and operating model, your products and services and your business strategy, and that can be operationalized most effectively. We ensure it is well balanced with your IT strategy and your Digital Transformation initiatives., desto wichtiger ist eine klare KI-Strategie. Wir unterstützen Sie dabei, die für sie perfekte und elegant operationalisierbare KI-Strategie zu definieren und begleiten Sie bis zur erfolgreichen Umsetzung. Zentral für uns ist Ihr klar quantifizierbarer Produktivitätssprung, den Sie erzielen werden, aber ebenso die Balance zwischen Ihrer Geschäftsstrategie und ihren anderen Initiativen, insbesondere der Digitalen Transformation. Wir verstehen unter einer eleganten KI-Strategie eine, die sich vom ersten Jahr an vollständig selbst finanziert – nichts weniger sollten Sie erwarten.

AI Governance

AI Governance

As AI becomes ever more capable and powerful, a forward looking and well balanced AI-Governance acts as enabling factor while protecting your business from unwarranted risk. We know how to balance AI-Governance and Data-Governance with AI-Strategy and above all how to implement it, so your business can evolve safely but without compromise

 

Cybernetic Designs

Cybernetic Designs

The progressive digitization of information and digitalization of processes and the physical world requires a new way of looking at a business to define its future-proof structure and capabilities. We intelligize your business by applying advanced cybernetic design methods and edge-intelligence that leverage AI-Integration principles. Cybernetic designs endow superior evolutionary features in particular to businesses that are physical asset heavy, thereby securing its long-term dynamic evolution in a rapidly changing world.

Intelligent Platforms

Intelligent Platforms

Platforms have become the foundation of all digital and most physical bsuinesses, however few are decently intelligent as of today.

We endow your existing and future platforms with maximum intelligence to turn them into the super-productive instruments they are meant to be.

Machine Learning Solutions

Machine-Learning Solutions

From pattern recognition, to object and human-behavioural recognition, from material science and health research, from cyberdefense and fraud detection to classifications, from autonomous driving and robots to NLP, Machine Learning is the core of AI.

When we help our clients to intelligize their business we integrate all these AI solutions into their business platforms and products and services. This is why we consider our work the fine art of an AI-Integrator with full spectrum Machine-Learning competence.

NLP Solutions

NLP Solutions

Natural Language Processing Solutions (NLPS) have become the most fascinating aspect of AI and the most tangible one.

As we are on the verge of true machine understanding we design the most advanced solutions, based on future learning and execution models, for clients that seek true and secure AI business assistance far beyond mere chat bots.

Optimization - Operations Research

Optimization / Operations-Research

The classic field of optimization (operations research) has experienced considerable disruption through Big Data. However, we are still in the infancy of using Big Data and Machine Learning for Optimization problems and many businesses are still poorly equipped when it comes to planning and optimizing their valuable resources.

We help you to reap the astonishingly high returns from Big Data and Machine Learning Optimization – from logistics and inventory management, to production planning and resource allocation and from scheduling to dynamic pricing.

Predictive Analytics

Predictive Analytics

The future is what defines our survival and prosperity and nature has equipped all animals, and us humans, with a formidable prediction engine.

We help our clients to improve their business predictions from sales, production and cash-flow forceasts to predictive maintenance, and from strategic market trend analysis to risk-scoring, so they can sail a perfect course through complex dynamic markets and focus on exploiting all their future potential and opportunities.

A Vocelka

AI is he fourth production factor and the essence of the fourth industrial revolution. We create AI solutions beyond the state of the art for quantum leap performance.

Alexander Vocelka

Senior Advisor

21X and think tank collaborate

Munich, 08 February 2024 – 21X – a DLT market infrastructure expert for trading of digital assets – and think tank Business Solutions – an internationally active IT and business consulting company with in-house software development – have entered into a partnership to jointly conquer the market for tokenized securities, allowing their customers to undertake digital trading and settlement activities within the strict regulations of the trading venue.

21X will soon bring to market its unique trading and settlement system for digital assets based on distributed ledger technology (DLT) that allows customers for the first time to undertake fully regulated digital trading and settlement activities, according to the European Union’s DLT pilot regime.

As a partner, think tank will offer companies seeking a primary or secondary market listing of digital assets on 21X’s exchange a range of services to ensure they meet all necessary legal, technical and regulatory requirements.

Specifically, think tank will integrate tokenization and custody service providers into 21X’s ecosystem using think tank’s project and consulting services. Additionally, think tank manages the provision and operation of regulatory-compliant IT environments for 21X exchange customers, as well as offering advice on wider business and IT strategy – particularly relating to MaRisk, BAIT and DORA financial services operational resilience regulations.

Max J. Heinzle, founder and CEO of 21X, said: “We recognize that for a company to meet all the necessary national and international regulatory requirements for the listing of digital assets is a significant undertaking. This is why we are pleased that these companies – whether seeking a primary or secondary listing – will be able to work with think tank, our digital services consulting partner, to guide them through all the relevant aspects of a listing. I am sure that this will make bringing digital assets to market a simpler and swifter process.”

Mohamed Chergui, CEO of think tank, added: “We are delighted about the partnership with 21X and look forward to working together with this partner with its unique expertise in DLT based Digital Asset Market Infrastructure to exploit the enormous potential in the area of digital assets & custody across all sectors and further expand our business. With Sarah Rentschler-Gerloff as Head of Digital Assets & Custody, we also have exactly the right person to make this cooperation a success.“

In March 2023, 21X applied for a license to operate a DLT based trading and settlement system in accordance with the European Union’s DLT regime. After the license has been secured, which is hoped for in the next two-three months, 21X will complete the exchange infrastructure to allow customers to undertake digital trading and settlement activities. Together with think tank, 21X will ensure that listing companies meet all regulatory requirements, after which the digital assets will be admitted for trading on 21X, a company acting as a pioneer in a market estimated to be worth as much as 10 percent of global GDP by 2030.

About think tank

think tank Business Solutions AG is a medium-sized company based in Munich with branches in Tunisia and Switzerland. The company has been offering business and IT consulting as well as innovative individual software solutions for the automotive and manufacturing industries as well as the financial sector for decades. It supports its customers in digitising their business processes for better customer centricity. As an expert in digital transformation and innovative technologies, think tank Business Solutions AG also accompanies clients on their path of agile transformation. Another focus of its business activities is information security. In the coming years, the company will increasingly focus on distributed ledger technologies such as blockchain and the tokenisation and safekeeping of digital assets, as well as related application areas for its clients.

Your contact:

Dorothee Schwarz

Marketing & Communication Manager

+49 (0)89 552677-0

dorothee.schwarz@thinktank.de

Challenges of a supply chain due diligence obligation (Supply Chain Act)

Supply chains play a crucial role in our globalised world. Companies face many challenges, particularly with regard to the verification of data due to the Supply Chain Act.

Review, risks and solutions

In today’s globalised economy, supply chains play a crucial role. However, companies are increasingly confronted with the challenges of supply chain due diligence (Supply Chain Act), especially when it comes to verifying data. The facts surrounding the Supply Chain Act audit shed light on various problems that companies have to overcome.

Transparent data sources as the key to integrity

The sources from which data for Supply Chain Act audits originate are often opaque. This uncertainty harbours the risk that the authenticity of the data cannot be clearly established. Companies are faced with the task of identifying reliable and transparent data sources in order to ensure the integrity of their supply chain.

Adapt questionnaires to the legal requirements

Data is often collected using questionnaires in various formats. These often do not exactly reflect the legal requirements, which makes compliance checks more difficult. There is an urgent need to develop standardised and legally compliant questionnaires to ensure that the data collected complies with legal requirements.

Manual verification of data from the social sector

The data to be collected mainly comes from the social sector, such as human rights or child labour. Manual verification of this sensitive data is often time-consuming and error-prone. Companies need to find solutions to automate the process while ensuring the accuracy and correctness of the information.

Complex interactions between companies and suppliers

Companies that are subject to the Supply Chain Act often have several suppliers to be audited, while one supplier in turn supplies several companies subject to the Supply Chain Act. The challenge is that different questionnaires are sent to the supplier, which increases the risk of inconsistent responses to the same legal requirements. Standardised communication and questionnaire design are crucial to minimise these inconsistencies.

Lack of context-sensitive testing

Companies often record data without carrying out a context-sensitive check. This increases the risk of “greenwashing” and violations of the Supply Chain Act, where companies pretend to act sustainably while in reality their compliance with legal requirements is questionable. A context-sensitive review of data is crucial to ensure that sustainability efforts are not just superficial.

Risks of fraud and greenwashing

One prominent example was provided by a well-known car brand based in the south of the country. Despite a successful Supply Chain Act audit of a supplier, it subsequently emerged through third-party research that the supplier was massively violating human rights. The consequences were serious. The risk of reputational damage is very high in the event of a violation. There is also the threat of legal consequences. Non-compliance with the Supply Chain Act can lead to legal consequences, including fines and trade restrictions, particularly in regions where strict regulations apply.

Possible solution

Overall, companies must proactively develop solutions to meet these challenges. The implementation of automated processes, the standardisation of questionnaires and the use of modern technologies are decisive steps on the way to effective supply chain due diligence. The use of AI-supported data analysis and risk assessment solutions are further preventative measures. This is the only way for companies to ensure that their supply chains comply with legal requirements while promoting sustainable and ethical practices.

Content:

Process optimisation in five steps

There are many measures to achieve the goals of digital transformation, such as better customer focus or faster time-to-market. One of the most important is process optimisation.

Definition, meaning and implementation

Digital transformation goals such as greater customer focus, shorter time-to-market or improving product quality require many measures, one of which is process optimisation and therefore an important part of any successful corporate strategy in order to remain competitive.

Why is it important to optimise processes?

But why is effective process optimisation so important? Especially in times of increasing competitive pressure, companies need to continuously review and optimise their processes. This is not only about saving time and costs, but also about taking customer requirements into account. Well thought-out process optimisation enables companies to concentrate on their core competencies and generate long-term success. The use of state-of-the-art technologies, such as the automation or digitalisation of work processes, can also increase employee motivation.

Basics of process optimisation

Process optimisation is based on a comprehensive analysis of existing processes. This identifies weak points and potential for improvement, which can then be addressed in a targeted manner. However, process optimisation is not a one-off project – rather, it is a continuous process. Because even if an optimum result has been achieved, the processes must be regularly reviewed and adapted to new circumstances. In addition, clear goals should be defined. Only in this way can the company ensure long-term success through effective processes.

Goals of process optimisation

The objectives of process optimisation are diverse and can vary depending on the company. First and foremost, it aims to improve the efficiency, quality and performance of business processes. Some of the most important goals are:

  1. Cost reduction: Costs can be reduced by identifying and eliminating waste, bottlenecks and inefficient activities in a process. Automation, reducing errors, shortening throughput times and optimising resource utilisation are the main factors here.

  2. Increasing productivity: Optimised process design enables employees to complete tasks more efficiently and therefore increase productivity. Simplifying processes and reducing waiting times are crucial here.

  1. Improving quality: Minimising errors, standardising work processes and implementing quality controls improves the quality of products or services.

  2. Increased customer satisfaction: Faster response to customer requirements, shorter delivery times and the provision of high-quality products and services lead to more satisfied customers.

  3. Flexibility and adaptability: Optimised process design supports adaptation to changing market conditions and improves competitiveness.

  4. Sustainability: Process optimisation helps to use resources more sparingly and reduce the environmental impact, e.g. by reducing the use of energy and materials.

Procedure for process optimisation

To achieve maximum impact it is important to plan the approach to process optimisation in advance as well as to take into account the specific needs of the company, its customers and its employees when selecting methods and processes. Successful process optimisation requires a clear strategy and committed employees. All stakeholders should therefore be integrated into the change process from the outset in order to minimise resistance within the company.

Step 1: Analyse and document processes

The first measure is to analyse and document existing processes in connection with the entire IT landscape. Changes affect different areas of the company, so it is important to have a precise overview of the interrelationships. Relevant information such as time and resource requirements as well as potential weak points should be recorded.

Step 2: Identify potential for improvement

Weak points or bottlenecks can be identified on the basis of the documented processes. Customer requirements and employee concerns should be taken into account in order to better fulfil their needs. In this step, goals are also defined that are to be achieved through the process improvement, including KPI definition.

Step 3: Develop a strategy

After analysing processes and identifying potential for improvement, it is crucial to develop a strategy. This includes prioritising the processes to be optimised and defining KPIs at process and team level.

Step 4: Take measures for optimisation

Specific optimisation measures can be developed on the basis of the analysis results. This includes deciding on the requirements for the IT architecture, the selection of tools and working methods.

Step 5: Monitor and continuously improve implementation

The measures implemented must be regularly reviewed and adjusted in order to achieve a sustainable effect. Key performance indicator systems show the success and adjustments must be made if necessary. Monitoring ensures that the optimised processes have the desired effect, e.g. in the form of cost savings or higher product quality. New market developments should be taken into account and team members must be empowered to make the best use of the new processes and tools.

Challenges and success factors in process optimisation

However, successful process optimisation can also pose challenges. One of the biggest hurdles is often the acceptance and commitment of employees, as changes to the workflow can cause uncertainty and resistance. Clear communication is an important success factor here. Goals should be communicated transparently in order to get everyone involved on the same page. A realistic timetable for implementation should also be set – after all, complex processes cannot be optimised overnight.

Trends and developments in process optimisation

A clear trend in the area of process optimisation, particularly in the area of production processes, is the automation of processes, for example in the form of robotic process automation (RPA), in order to reduce manual tasks and achieve efficiency gains.

Digital transformation also remains an important topic. Companies are utilising technologies such as cloud computing, big data analytics and artificial intelligence to improve their processes and make better decisions. AI is becoming increasingly important here, just as it is in automation. This is because AI provides data analyses that can be used to identify inefficient processes. This enables companies to react to problems at an early stage and prevent potential bottlenecks, resulting in a smoother and more efficient process landscape overall.

In line with the trend towards digital transformation, agile methods continue to be used frequently and processes are being streamlined according to lean management principles. Customer journey mapping, which incorporates the customer perspective and thus helps companies to better understand and harmonise their processes, takes account of increased customer demands.

In order to meet the increased need for communication, the use of collaboration tools is increasing, as such frameworks enable a more efficient exchange of information between employees and teams, which helps to optimise processes.

Recommendations for future process optimisation projects

However, there are a few key points to consider for the success of process optimisation projects:

  1. Involvement of all relevant stakeholders: To ensure the acceptance and commitment of employees, it is important to involve all stakeholders in the optimisation process at an early stage. This can be done through workshops or regular team meetings, for example.

  2. Use of agile methods: Agile approaches such as Scrum or Kanban can help to promote continuous improvement and achieve faster results.

  3. Use of modern technologies: The use of digital solutions such as workflow management systems or robotic process automation (RPA) enables efficient automation of workflows and helps to increase productivity.

  4. Set measurable goals: Clear objectives with measurable KPIs create a basis for reviewing the success of the optimisation process and making adjustments if necessary.

  5. Continuous monitoring & obtaining feedback: Regular monitoring and review of the optimised processes as well as obtaining feedback both internally and externally are decisive factors for sustainable success in the context of professional process optimisation.

Successful process optimisation

It has become clear that there are a number of factors that need to be taken into account if process optimisation is to be successful. The basic prerequisite is precise knowledge of the process landscape in the company as well as a clear strategy and objectives for implementation, in which the customer and employees should take centre stage. It is therefore crucial that all stakeholders are involved in the process from the outset, as change can only succeed if everyone involved is convinced that the project makes sense.

Content:

Regulatory IT for the Digital Asset & Custody Industry

A rapidly growing digital asset & custody industry presents IT with many regulatory challenges, which are characterised in particular by Dora, MaRisk, BAIT and BaFin.

Between Necessity, Challenges and Future Prospects

The rapidly growing Digital Asset & Custody industry is facing increasing regulation, specifically characterised by Dora, MaRisk, BAIT and BaFin. In this article, we take a comprehensive look at the necessity, the complex challenges and the promising prospects of regulatory IT in this evolving sector.

Need for regulatory IT

The need for a strong regulatory IT architecture in the digital asset & custody industry is based on the complexity and sensitivity of digital assets. Dora creates the framework for digitalisation, MaRisk sets minimum standards in risk management, BAIT specifies the IT requirements and BaFin monitors compliance with these requirements. A solid IT infrastructure is therefore crucial for effectively managing digital risks and meeting regulatory compliance requirements.

Challenges in construction and operation

Setting up and operating such an architecture is not without its obstacles. The adaptation of existing systems, the integration of blockchain technology, the continuous compliance with changing regulations and the consideration of regulatory dependencies when outsourcing banking transactions require expertise and resources. Roles such as compliance managers, IT security experts and outsourcing management experts are becoming indispensable.

Required skills and roles

The skills and roles required are wide-ranging. Compliance managers must keep an eye on regulatory requirements, IT security experts must ensure a secure infrastructure and outsourcing management experts must take regulatory dependencies into account. In addition, blockchain developers are needed to successfully integrate this technology.

Focus on security

The security of digital assets is at the centre of any regulatory IT architecture. Modern security protocols, encryption and continuous monitoring are essential to minimise potential security risks and strengthen the trust of all stakeholders.

Challenges in setting up a blockchain architecture

The integration of a blockchain architecture poses a particular challenge. Decentralisation, smart contracts and the management of private keys require an in-depth examination of technical, legal and operational aspects. The DLT Pilot Regime provides guidance on how blockchain can be integrated into regulated environments.

Blockchain integration into regulatory IT

The seamless integration of blockchain into the existing regulatory IT landscape is crucial. Frameworks such as the DLT Pilot Regime provide a clear guideline on how blockchain can be embedded in a regulated environment. Collaboration with regulators is becoming increasingly important.

Prospects

Despite the challenges, regulatory requirements present an opportunity to improve security and efficiency. By utilising skilled staff wisely, applying security best practices and integrating blockchain technology, companies can not only meet regulatory requirements but also strengthen their position as pioneers in the digital asset & custody industry.

Conclusion

Regulatory IT for digital assets is not just a regulation, but a strategic investment. Organisations that proactively address these challenges will not only ensure compliance, but also create a foundation for sustainable growth and innovation. By integrating blockchain technology and regulatory compliance, the digital asset & custody industry will become a more secure and efficient financial sector for the future.

Content:

The suitable integration platform for your company and your customers

Increasing customer demands, shorter time-to-market and higher requirements for information security and data protection are becoming ever more important. An integration platform provides the solution to many of these challenges.

Information security and data protection are key issues

Not only have customers’ expectations of their providers’ services increased, but environmental influences, which require a greater customer focus and the associated shorter time-to-market, also make it necessary for companies to react ever more flexibly to changes. In addition, at a time when information security and data protection are becoming increasingly important, it is essential to protect one’s own business processes and the data processed in them as securely as possible against unauthorised access. An integration platform provides the solution to many of these challenges.

It can effectively connect data and applications to increase efficiency, improve responsiveness and thus offer a competitive advantage. IT landscapes with complex, poorly networked systems and applications, on the other hand, often represent an obstacle in this context, as their adaptability and scalability are very low.

Integration platform: A definition

But what does an integration platform actually mean? An integration platform is a software solution that enables seamless connection and communication between different components, applications, systems and data sources. It serves as a central interface for collecting, integrating, transforming and exchanging information from different sources.

The main task of an integration platform is to overcome the heterogeneity of data formats, protocols and different technologies. It offers a comprehensive range of tools and functions to harmonise data.

Integration platforms in enterprise architecture management

Ultimately, an integration platform plays a decisive role in modern enterprise architecture management. It is the centrepiece from which all services and applications can be controlled, maintained and exchanged.

The importance of integration platforms lies primarily in the fact that they help companies to manage the complexity of their IT landscape and enable seamless integration and networking of their systems. By using an integration platform, companies can improve interoperable communication between their systems and thus exchange data seamlessly. This enables them to optimise operational processes and workflows, increase efficiency and make better business decisions based on up-to-date and consistent data.

This also makes a significant contribution to improving the quality and consistency of data. By centralising the collection, transformation and validation of data, companies can ensure that all systems have access to up-to-date and error-free data and applications and that data loss can be avoided.

Advantages of an integration platform

There are many examples of the advantages of integration platforms. Here are just a few:

  • Simplifying the integration of applications and data
  • Reduction of complexity and pre-processing of data
  • Increased transparency and visibility of data flows
  • Reduction of integration costs and time
  • Increasing the scalability of the IT landscape
  • Improving the efficiency and speed of business processes
  • Increasing the possibility of automating many business processes
  • Flexibility for rapid adaptation to changing business requirements
  • Better integration of cloud and on-premise solutions
  • Increased security through centralised control and monitoring of data exchange processes
  • Improving data quality and consistency
  • Reduction of time and costs for maintenance and development of interfaces

Choosing the right integration platform / solution

When choosing an integration platform/solution, companies should consider a number of things to ensure that it meets their requirements. Above all, the requirements and functionalities should take centre stage. Which features do the individual stakeholders need, which data formats, interfaces, transaction capability, etc. are involved? It is important to get all specialist departments on board right from the start.

The chosen solution should be flexible and scalable to ensure the easy integration of additional systems and applications. It should also be cloud-capable to further increase scalability and flexibility.

The security of company data and systems should also be a top priority. Accordingly, the platform should have sufficient security mechanisms in place to protect the data from unauthorised access and threats. Compliance requirements also play a major role here.

Last but not least, user-friendliness plays a major role for users in the company. This should always take centre stage when integrating a new solution.

Combination of different integration solutions

Often, a combination of different approaches to implementation can deliver better success than committing to one approach.

By using microservices, individual components of the solution can be scaled independently of each other and are very flexible. The combination of approaches also makes it possible to quickly drive forward the development and provision of new functions and services. In this way, the use of third-party providers offers the opportunity to fall back on proven solutions and save time and development effort.

Microservices can be developed, provided and scaled independently of each other, which enables efficient utilisation of resources. API interfaces also facilitate integration with other systems and services, both internally and externally. By distributing functionality across microservices, failures in individual components can also be isolated and rectified without affecting the entire solution.

The implementation of a solution can be both cloud-based and on-premise.

Application example: Integration along the customer life cycle

Especially for companies that offer their services and products online, an integration platform tailored to the needs of customers is a good way to improve the customer experience and thus increase their satisfaction. As a first step, it is particularly important to take a look at the customer life cycle and all of the steps required to optimise the customer experience. This is because covering all customer-related business processes with the help of a single platform solves several problems at once. On the one hand, the services and products are accessible via a “front door”, and on the other, the processes are easier to customise.

In our case, we are looking at the property universe with its various service areas.

Step 1: Integration of all external and internal stakeholders

In this case, it is important that by analysing the needs of all users and partners involved a system is created that meets everyone where they are. In the case of a property platform, both external and internal stakeholders must be taken into account, each of whom has a different view of the application.

Step 2: Automation of processes along the value chain

After analysing all of the stakeholders’ needs, it is possible to break down very precisely which service they require at each step of their customer journey. The integration platform with a front end to the customer is a best practice example of customer centricity.

Step 3: Initial situation IT infrastructure and IT systems

Companies often still struggle with data silos or disconnected applications. On the one hand, this prevents a smooth process, there is a risk of data loss and security gaps, and on the other hand, it is not possible to guarantee a satisfactory customer experience.

Step 4: Combination solution for integrating systems

The solution to this problem is obvious: with the help of microservices, applications can be replaced step by step and connected to the front end via API interfaces if a service or process needs to be customised. This significantly shortens time-to-market cycles, allowing the company to react flexibly to new challenges.

This is also in line with the principles of agility, which provides for an incremental approach and continuous adaptation of services in the interests of a high level of customer centricity and further contributes to ensuring a company’s competitiveness. In addition, the automation of many processes and the high scalability of the application make it possible to utilise the resources freed up to expand business activities, for example by entering markets in other countries and adding further services to the range, and to generate more revenue.

Enterprise architecture with an integration platform for greater customer satisfaction

The example of the real estate platform along the customer life cycle has made it very clear that it makes sense to take a closer look at your own IT landscape in order to find a better solution if necessary. It can also be valuable to take a closer look at which platform actually suits the company in order to use the technologies and developments that are best suited to its own business processes and thus possibly even play a pioneering role in terms of customer centricity on the market.

Content:

think tank and FinPlanet set new trends as partners

think tank and FinPlanet set new trends in the financial market as strategic partners

Munich, 23 November 2023. think tank Business Solutions AG, an internationally operating IT consulting company with in-house software development, and FinPlanet GmbH, a strategy consultancy for financial institutions and FinTechs with a focus on building DLT-based capital market infrastructures, are entering into a strategic partnership. The aim of this cooperation is to utilise the complementary service portfolios of the two companies to achieve synergy effects for customers and set new trends on the financial market.

 

Thanks to its many years of management experience in banks, stock exchanges and FinTechs, the FinPlanet team has extensive expertise in the areas of business strategy, regulation and product and process design in the financial sector. Combined with think tank’s decades of expertise in the development of innovative and forward-looking IT architectures and customised software solutions, this opens up fascinating opportunities for joint collaboration.

think tank and FinPlanet are pooling their extensive expertise to provide players in the financial sector, including banks, asset managers, capital management companies and FinTechs, with a coordinated team of specialists. Together, they strive to comprehensively build scalable DLT-based capital market infrastructures. The tried-and-tested expertise of both companies can significantly reduce the current challenges and risks of regulated DLT-based business models.

Sarah Rentschler-Gerloff, Head of Digital Assets & Custody at think tank: “The partnership with FinPlanet enables us to tackle the challenges of a regulated DLT/blockchain-based business model together. FinPlanet’s many years of expertise in the development of DLT-based business models ideally complements our experience in the development and operation of regulated IT architectures and software solutions in the automotive, manufacturing, banking and capital markets sectors. This enables us to offer innovative and forward-looking solutions with fast and compliant market access.”

Sebastian Liebscher, Managing Partner & Co-Founder at FinPlanet: “We see that our consulting approach is increasingly in demand among large regulated financial institutions, but also among FinTechs. Our clients are asking for experts who have built DLT-based business models themselves. Experience is crucial here and ultimately saves risks and costs. The larger a financial institution is, the greater the reputational risks that can arise if the project is set up incorrectly. In think tank, we have found precisely this expert, whose experience in IT development and IT operations, as demonstrated for example as the validator of SWIAT’s blockchain, is ideally suited to our positioning. In addition, think tank has a very high level of regulatory understanding thanks to its existing customers in the automotive and financial sectors.”  

With their cooperation, think tank and FinPlanet want to respond to the current needs of the financial sector and facilitate their customers’ market entry into DLT-based business models with leading specialists from the fields of strategy, regulation and IT.

About think tank

think tank Business Solutions AG is a medium-sized company based in Munich with branches in Tunisia and Switzerland. The company has been offering business and IT consulting as well as innovative individual software solutions for the automotive and manufacturing industries as well as the financial sector for decades. It supports its customers in digitising their business processes for better customer centricity. As an expert in digital transformation and innovative technologies, think tank Business Solutions AG also accompanies clients on their path of agile transformation. Another focus of its business activities is information security. In the coming years, the company will increasingly focus on distributed ledger technologies such as blockchain and the tokenisation and custody of digital assets, as well as related application areas for its clients.

About FinPlanet

FinPlanet GmbH is a Munich-based consulting company specialising in DLT-based capital market infrastructures for the financial sector. FinPlanet supports banks, stock exchanges, asset managers and FinTechs in the development of new DLT-based business models. FinPlanet supports its clients in the development of market entry strategies, the establishment of a target operating model and the subsequent implementation in the context of product-specific and regulatory requirements. In addition, FinPlanet has already supported several licence applications for DLT-based business models. FinPlanet’s team consists exclusively of experts who have already successfully established DLT-based business models for regulated institutions in leading positions.

Your Contacts

think tank Business Solutions AG

 

Dorothee Schwarz

Marketing & Communication Manager

 

+49 (0)89 552677-0

dorothee.schwarz@thinktank.de

FinPlanet GmbH

 

Sebastian Liebscher

Managing Partner & Co Founder                              

+49 151 51233415                                   s.liebscher@finplanet.eu

"There are many myths and misunderstandings about AI"

There are many myths and misconceptions about AI. Alexander Vocelka, international expert on AI and senior advisor at think tank, talks about the opportunities and possibilities of AI.

AI is the topic at the moment. As is often the case in such cases, there are many myths and misunderstandings about it. Could you explain in a few sentences what AI is?

AI is a learning system created by humans. It starts with very simple systems that can recognise patterns, so-called Narrow AI, and goes up to systems that can recognise their environment and processes in it and react to them in a targeted manner.

 

In principle, AI systems are best understood as cybernetic systems. They have a sensor system through which information flows into them and a computational core on the basis of which the information is processed by mathematical models.  

 

AI systems have passive output systems, such as screens or speakers, or even active motor technology that can operate physical infrastructure, so-called OT (Operating Technology), or a body of its own, as in factory robots or even just the mowing bot for the lawn. The highest form of AI is the so-called General AI, in reference to our human intelligence, which includes very many sensory and several motoric dimensions.

With AI systems, the information is of course digital in nature. They usually need large amounts of data (big data) to be trained in a batch job. The “dirty secret” of the AI industry today is labelling. A large number of people, especially for visual AIs, have to meticulously analyse and categorise the input data, i.e. the images and videos, which is called labelling.

 

"Human ability to make decisions based on small amounts of data still unrivalled."

The human ability to learn and draw conclusions on the basis of very small amounts of data, so-called delta learners, is still not possible for even the most up-to-date systems. An interesting branch of development in this area is edge intelligence, which will play a decisive role in connection with the IoT. There is currently heated discussion about the extent to which AI should control operating technology such as energy supply.

It is important to understand what AI cannot do today: It cannot understand and it cannot feel. Understanding is the basis for complex storylines and responsible action. Feelings are the quintessence for awareness and evaluation.

Understanding is the upcoming big leap in AI that will be truly revolutionary. Emotions are a “Hard Problem”, as science says, and simulation especially for evaluation seems possible to me, pure emotions like animals and we humans produce will probably not be feasible with silicon-based machines.

AI offers many opportunities for companies? Where do you see the main ones?

The honest answer would be everywhere. Of course, there are priorities that derive primarily from the company’s business. Here, I basically classify into two types of business models that have different AI relevance. One is for companies that produce a physical product and those that offer services. In the case of service companies, the major AI potentials are found in portfolio optimisation and in the customer journey, plus the usual efficiency gains in the operating model. For manufacturers of physical products, the greatest AI potential often lies in the product itself, for example in the autonomous vehicle, but of course in every other product. I can’t imagine any product or infrastructure part that will remain stupid.

In the business case of AI solutions, we very quickly talk about 100s to 1000s of % ROI per use case. No other IT investment can come close to offering such a high ROI!

If we look at the individual industries, the greatest potential is clearly in the medical field. Humans are super-complex physiological systems and all new diagnostics and therapies will require massive use of AI. Tools like CRISPR and gene therapies depend on AI. Healthy human longevity will not be possible without AI.

That is why AI as the 4th factor of production is also the most powerful and the fourth industrial revolution in my eyes is the AI revolution.

What areas of application do you see in concrete terms? And what requirements does a company have to meet in order to implement AI in a meaningful way?

Apart from the intelligent products I just mentioned, I see very easy productivity potential in production and quality optimisation. It is astonishing that more than 90% of the AI potential has not yet been captured.

Logistics in general is a single potential. It is astonishing that the logistics experts themselves think there is little potential. I could see for myself that the old simplex thinking blocks are a big problem here. Everyone can think for themselves whether the service we get from airlines, railways, ships and especially road transport is already optimised, or whether an incredible amount of inefficiency is the order of the day here.

In the area of information security, one can rely on intelligent ICS and compliance systems or AI cyber defence. If you look at the area of service, customer service optimisation is predestined for the use of AI. In addition, AI should of course be used in all operational decision-making processes to maximise ROI. Predictions or pattern recognition without automated decision and action are less than a tenth of the rent of AI projects.

In order to use AI effectively in the company, an AI strategy is needed, and the best way to develop one is to understand and describe the company as a cybernetic system. Then you not only recognise the AI potentials, but also understand how they must be connected.

Once you have the AI strategy, you can derive the individual initiatives and projects from it, prioritise them and implement them. Everything is connected in AI.

Where do you think many companies stand today? What are the next stages of development?

After almost 10 years, many companies are still in the process of developing many individual, small separate use cases. There are now many data lakes, but the yield is very low because there is a very heterogeneous understanding and acceptance of AI in the individual company divisions. The individual AI solutions float detached as islands from each other in the data lake. The island existence of AI is even worse than the silo existence of classic IT!

Last but not least, there is also a lack of user acceptance in the company itself, more than with customers or partners, which in turn is due to the lack of or very heterogeneous understanding of AI and diffuse job fears, which in turn stem from a lack of understanding about AI even in the company management. There is hardly anyone who can give conclusive answers in the field of AI and communicate AI strategies consistently. 

And that brings us to the lack of AI governance in companies. This lack then inhibits data generation and integration. Knowledge is power and sharing data is often perceived as a personal loss of control for managers.

Another hurdle is a gap in understanding between IT and business or data science. In addition, the IT that takes over the realisation of AI in companies today is trimmed to operational efficiency and not to innovation. Bridging these gaps is an important task for IT consultants.

You spoke of the company as a cybernetic system? Where and how do people still have a place in this world?

In the medium term, I see a very fruitful collaboration between humans and AI systems emerging, in which humans find their role as teachers and AIs as apprentices. The main task of humans in the medium term will be to constantly train, optimise, monitor and coach AI. The development from High to Low and No Code shows us this path.

We will no longer need programmers, but simply experts who will guide the AIs naturally, via natural human communication.

We will also have many intelligent systems that have different strengths. Even the weaker ones will be able to learn from humans. This means that the human and the machine will work together very closely. The machine will not replace the human being, but the human being will change his role. Every human being is by nature a teacher, coach and supervisor, because humans, like most animals, are programmed to develop learning natural systems themselves – their children. It is the task of AI specialists to recognise this and to develop AI systems in this direction, as delta learners.

A lot of energy is spent on making the systems humanoid. But this is contrary to human sensibilities. We feel more comfortable when we recognise who we are dealing with than when we are obviously and even badly deceived.

Our pets don’t have to look like us for us to accept and love them. We are capable of personalising and loving things – hence the term car lover. The human brain is so powerful that it personalises AI systems on its own without being presented with a bad homunculus- that seems rather creepy to us!

Back to the topic of AI governance. What are its tasks?

AI governance has the task of being able to realise the great potentials of AI while at least minimising negative effects. What is often misunderstood is that AI governance has a limiting function. AI governance must be a balanced framework that enables the maximum potential of AI to be realised and negative impacts to be minimised and mitigated. It has an educational function for all stakeholders. AI governance thus accelerates the development of AI in the company, as it provides security for all stakeholders. At the same time, it should be part of the corporate social responsibility of every company and thus form the basis for a responsible approach to AI.

AI is not going away and there will be no more AI winter. Instead of keeping the topic nebulous, it should be described openly and realistically and AI governance should be equally clear and open. Then fears become knowledge and understanding and that in turn becomes solutions for the future.

AI is the 4th and most powerful factor of production and we are only just beginning to even recognise what potential we have.

Content

think tank strengthens team

think tank strengthens team with experts for artificial intelligence and distributed ledger technologies

Munich, 20 October 2023. think tank Business Solutions AG strengthens its team with Sarah Rentschler-Gerloff as Head of Custody and Digital Assets and Alexander Vocelka as Senior Advisor to offer its clients even more efficient AI and Blockchain solutions.

 

The goal is to further expand expertise in these areas in order to make existing solutions even more efficient as well as to develop new service offerings that complement the existing portfolio.

Sarah Rentschler-Gerloff has more than 30 years of experience in software development. Since 2016, she has been working on distributed ledger technologies such as blockchain and their potential areas of application. She is a member of the Federal Block, co-lead of the Digital Euro working group and a member of the Finplanet GmbH expert hub.

Sarah Rentschler-Gerloff: “I am looking forward to strengthening the expertise at think tank with my knowledge and, together with my colleagues and our partner network, to offering services that revolutionise the financial market.”

Alexander Vocelka is an international AI expert and renowned thought leader in the fields of digital transformation and solutions for Big Data, Machine Learning and Quantitative Business Modelling. He is also the author of numerous articles and white papers on artificial intelligence and the impact of AI on future socio-economic models.

 

Alexander Vocelka: “I have known think tank for more than twenty years as a company that flexibly adapts to changing market conditions and always surprises with its innovative approaches. I am sure that together we can achieve a lot with new AI solutions.”

Mohamed Chergui: “It is the combination between the innovative technologies AI and Blockchain that offers us unimagined opportunities to drive our business forward and conquer new markets by helping our customers even better secure their market position.”

By strengthening the team with these experts, think tank Business Solutions AG is following its strategy of using the latest technologies to develop solutions that support the digital transformation of its customers and make them resilient to the ever faster changing market and constantly increasing customer needs.

About think tank

think tank Business Solutions AG is a medium-sized company based in Munich with branches in Tunisia and Switzerland. The company has been offering business and IT consulting as well as innovative individual software solutions for the automotive and manufacturing industries as well as the financial sector for decades. It supports its customers in digitising their business processes for better customer centricity. As an expert in digital transformation and innovative technologies, think tank Business Solutions AG also accompanies clients on their path of agile transformation. Another focus of its business activities is information security. In the coming years, the company will increasingly focus on distributed ledger technologies such as blockchain and the tokenisation and safekeeping of digital assets, as well as related application areas for its clients.

Ihre Ansprechpartnerin

 

Dorothee Schwarz

Marketing & Communication Manager

 

+49 (0)89 552677-0

dorothee.schwarz@thinktank.de