40 years ago, in Trento we started to work in the developing of IT solutions for local communities.
Our territory is an area where the social and cooperative economy generates about 75% of the GDP and the cooperative banks cover about most of the banking market, thus allowing a terrific growth of the wealth of the population. It is in this scenario that Dedagroup created its own banking IT solutions, then started expanding nationwide, until becoming one of the main players in the Italian IT marketplace.
The local cooperative banks were small but also joined in a second-tier consortium acting as bankers’ bank: that’s how they become one of the most relevant Italian banking groups.
Their core banking system fully supported the evolution of the cooperative banks from the original simple deposit and lending activity to the present highly sophisticated and supervised financial industry. We had the chance to embed in our holistic core banking system the know how experienced in hundreds of projects realized for Italian cooperative banks.
Leveraging on this extraordinary knowledge base and software assets, Dedagroup decided to propose this experience to serve small financial institutions in North America and to support financial inclusion and local community development both in the US and in Mexico.
In the 2008 Dedagroup’s industrial plan, we widely invested in our internationalization’s path.
The first step of this adventure was the birth of Dedamex, that in 2009 was the first Dedagroup’s overseas subsidiary to be opened. After Durango headquarters, we added two more offices to our Mexican presence: Guadalajara and Mexico City.
In 2015, Dedagroup decided to acquire a new company: that’s Dedapay, a firm specialized in the credit card services sector, that now operates in Mexico City.
In 2014, we decided to widen our America presence by opening our first U.S. branch: that’s how was born Dedagroup North America, a company created to serve a market of over six thousand Credit Unions and more than 100 million current accounts. the company is the sum of multiple acquisitions: EPL, Inc. (2015), Intech (2017) and, through Piteco (a Group company listed on the Stock Exchange since 2015), Juniper Payments (2017).
The Dedagroup International Business Division is now composed by 200 professionals, employed by six companies located in US, Mexico and Italy, serving about 500 customers, half in US and half in Mexico.
The operating environment of any financial institution is getting more and more complicated because of the increasing regulation and of the technological issues. Regulation asks for on line risk management and compliance control, while market pushes for instant delivery of any service everywhere. IT systems and departments running this complexity are expensive and failure in compliance and risk taking even more (if not deadly).
Dedagroup core systems offering is devoted to cope with this scenery at affordable cost, allowing financial institutions to design their own business model by sharing software and services with the community of our customers, not losing anything of their independency.
With all our products and services, we deliver to our customers our global vision and know-how about running chartered financial institutions and moving money around the world.
A glance towards 2020: keeping on working to help our customers to become brick-solid chartered financial institutions quick-reacting and lean as fintech.
The product development path for the next future will be focused on completing the deployment of BankUp modules in the EPL environment and in the Intech environment. This will greatly expand the integration capabilities of our cores both from technological and functional perspectives.
In the same time, we are working on aligning our mobile and on-line banking systems to the requirements of the CU Impact project, by improving the user interface according to the general evolution of the apps used by millennials, a main target of the credit unions.
By 2019 we’ll deliver the next level of user interface both for internal users and for the credit unions’ members. In 2020, the complete deployment of the BankUp universal banking functionalities will allow us to expand our offering to address financial institutions of any type. Finally, the growth of Juniper in the US payments services will be enhanced through our Mexican card issuing services, thus creating a comprehensive payments services company.