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      <title>Business Services</title>
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      <![CDATA[ Customer Case Study: Meeting Regulatory Obligations around risk management, governance and internal controls in Banking ]]>
      </title>
      <link>https://blog--3ds--com.apsulis.fr/industries/business-services/customer-case-study-meeting-regulatory-obligations-around-risk-management-governance-and-internal-controls-in-banking/</link>
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      <pubDate>Tue, 12 Nov 2024 16:29:20 GMT</pubDate>
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      <![CDATA[ A leading global bank uses Dassault Systèmes’ solution to standardize data models, improve data governance and internal controls to meet the regulatory data governance requirements.
 ]]>
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      <![CDATA[ 
A leading global bank uses Dassault Systèmes&#8217; solution to standardize data models, improve data governance and internal controls to meet the regulatory data governance requirements.



As global regulators ramp up demands for financial services companies to achieve operational resilience—requiring uninterrupted performance of essential business functions even during disruptions—financial institutions are increasingly seeking innovative solutions to meet these critical standards.



In a recent example, one of our banking customers successfully standardized its entire, complex operational systems and applied this approach across all essential business services, achieving consistency and operational efficiency organization-wide.



?️ Discover the full case study











? What are our customer benefits?



Here are some of the transformative benefits they experienced:




Advanced-Data Modeling Capabilities




Unified Modeling Language (UML) and Systems Modeling Language (SysML) enable the bank to create detailed, standardized models that are easily understandable across teams and stakeholders.



By leveraging Logical and Physical Data Models, teams can design abstract data representations and seamlessly translate them into physical database structures, ensuring clarity and functionality from concept to execution.




Seamless Data Integration and Interoperability.




Integrating various data models and sources into a cohesive architecture has allowed the bank to unify data from diverse departments and systems, whether from existing frameworks or new workflows.



This streamlined data flow minimizes disruptions and maintains data consistency across the organization, ensuring teams using different tools and platforms can easily access accurate information.




Compliance and Data Governance




Robust traceability and auditability features allow the bank to track data model changes and maintain compliance with both internal policies and external regulations, including GDPR, DORA, and BCB 29.



With detailed data lineage, the bank can track the origin, transformation, and end-use of data, which improves transparency and meets regulatory requirements related to data usage and management.




Collaboration and Model Sharing




Multiple users from different regions and time zones can now work on the same models simultaneously, promoting efficient collaboration and enabling model sharing and reuse.



A centralized library of standardized models reduces redundancy and ensures that consistent methodologies are applied across various projects and services.




Comprehensive Visualization and Reporting




The bank’s Information Architecture team can leverage advanced visualization tools to create detailed and intuitive diagrams that represent complex data structures and relationships, making it easier to communicate data architecture details to non-technical stakeholders and facilitate informed decision-making.



Automated reporting capabilities allow for streamlined generation of documentation, which supports regulatory submissions and simplifies internal review processes.




Simulation &amp; Validation of Data models




Before implementation, data models undergo simulation and validation before implementation, ensuring they are logically sound and error-free. This proactive approach reduces the risks of issues arising during deployment, safeguarding operational continuity.



? Discover More




Virtual Twins: Not just for manufacturing anymore…



Virtual Twins: Pioneering Operational Resilience for Future-Ready Financial Services



Want to find out more about how financial companies can effectively combine Operational Resilience and Business Continuity? Check out this guide ?

















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      <title>
      <![CDATA[ AI-driven customer analytics in banking ]]>
      </title>
      <link>https://blog--3ds--com.apsulis.fr/brands/netvibes/ai-driven-customer-analytics-in-banking/</link>
      <guid>https://blog--3ds--com.apsulis.fr/guid/270256</guid>
      <pubDate>Tue, 08 Oct 2024 13:29:15 GMT</pubDate>
      <description>
      <![CDATA[ Banks are increasingly tapping into the power of artificial intelligence to extract even more value from their most critical asset: data. New capabilities help them to reveal previously unknown insights and understand what their customers truly want.
 ]]>
      </description>
      <content:encoded>
      <![CDATA[ 
Just as the internet caused a paradigm shift in the way that consumers access banking – 58% of consumers globally now prefer to bank online or via a mobile app – another fast emerging technology breakthrough promises a similarly profound shake up across the financial services market. Artificial intelligence (AI) is expected to add up to US$4.4 trillion in value to the global economy – per year.&nbsp;And of all the industries set to benefit, banking has one of the greatest opportunities. Through AI, banks are gaining the capabilities to digitalize and automate workflows, opening up exciting ways to improve both their own employee experience by making space for more fulfilling roles, and creating more meaningful and seamless customer experiences. This is a win-win for both businesses and consumers.



As the capabilities and applications of AI grow, banking leaders are waking up to its potential and beginning to explore how they can harness the technology to tackle one of their biggest challenges: delivering timely and personalized support to their customers. While banks widely perceive customer experience as a key differentiator and source of competitive advantage, over half say they are trying to offer a more bespoke service yet their efforts end up appearing generic.



One of the key branches of AI making a real difference in this area is natural language processing (NLP) and machine learning (ML). Thanks to this technology, banks gain the capability to extract information from all manner of different sources, including social media posts, web reviews, emails, and customer satisfaction surveys, to better understand their customers and wider market trends. Tapping into this vast data pool and applying AI and NLP empowers banks to listen to their customers, anticipate their evolving needs, and constantly raising expectations, and move quickly to address pain points. Banks that successfully transform unstructured data into clear information can use it to create successful personalized customer journeys, gain trust, and foster long-term loyalty.




The huge drive towards digitalization opens up exciting opportunities for banks to capture what their customers are saying, and use that information to deliver even better services.



Taherah Kuhl, Vice President of Business Services at Dassault Systèmes




Source: Capturing the full value of generative AI in banking, McKinsey &amp; Company







Applications of NLP, ML, and semantic analysis technology



Here are three ways banks are applying NLP, ML, and semantic analysis technology to get more from their data:



1️⃣ Customer sentiment analysis



Today, consumers expect a personalized banking experience that is tailored to their specific needs and recognizes their current situation. Through NLP and ML solutions like Proxem Studio from Dassault Systèmes, financial institutions can deliver on this by analyzing all manner of data sources to understand customer sentiment in their native language (+30 languages can be analyzed with this tool). From here, they can offer personal advice and services, targeted product recommendations and promptly address queries and issues.




Before, it would have been impossible for banks to manually read and analyze the vast amount of customer feedback they receive, whether that’s from satisfaction surveys or reviews on social media. It’s meant that they’ve never really had a true understanding of customer sentiment at scale. AI changes that, providing a 360-degree view of all those sources in different languages, which they can use to identify trends and determine how well they’re meeting customer satisfaction key performance indicators.



 François-Régis Chaumartin, Vice President of Semantic Data Science at NETVIBES, Dassault Systèmes




Source: Possibilities and limitations, of unstructured data, Research World







2️⃣ Automating tasks



AI is increasingly being used to automate routine tasks and free up customer service representatives and account managers so they can spend their time tackling more complex issues and responding faster to customer requests.




Account managers can spend up to half of their time replying to incoming queries, whether that may be product advice, information requests or complaints. In more than 70 % of these cases, the response is relatively straightforward – such as stating the balance on a bank account or giving information about a new product. AI can automatically understand incoming requests, extract key information and help to compose a suitable response, saving up to one hour per day.



François-Régis Chaumartin, Vice President of Semantic Data Science at NETVIBES, Dassault Systèmes








3️⃣ Anticipating and identifying unseen risks



Financial crime and fraud remain one of the biggest challenges for banks and financial institutions. According to one report, by 2027 fraud will cost the global industry US$40.62 billion. It’s important, then, that companies take steps to proactively detect and prevent fraud and remain compliant with the fast-evolving regulations landscape. Using AI, they can do this by tracking data threats, identifying potential security breaches and disruptions before they occur, and monitoring regulatory compliance needs.




One of the key regulations impacting the financial services sector more recently is around operational resilience – meaning the ability to absorb and adapt to shocks and disruptions in the market. As part of this, regulators expect banks to have a holistic view of their enterprise and understand all possible interdependencies across the value chain that might affect their services and products. If there’s a failure that might affect the market or customers suddenly face an issue accessing their account, it’s fundamental for banks to be aware of what’s happening to minimize disruption.



Taherah Kuhl, Vice President of Business Services at Dassault Systèmes








AI and intelligent customer analytics in action



AI and NLP tools aren’t new to the financial services industry. Banks have used them for many years to get more from their data. However, Proxem Studio offers an entirely new proposition by providing users with a completely personalized and responsive semantic analyzer tool that includes:




Integrated deep learning and machine learning features



The ability to quickly set up and virtually model banking and insurance operational systems



The option to deep dive into any given subject within context, making accurate connections and relationships between concepts, market news etc.




Harnessing these combined capabilities within a single tool helps banks reveal surprising results and insights, and come up with solutions to issues they might not otherwise detect:



Ramping up customer confidentiality measures: Through Proxem Studio’s NLP insights, one bank detected an issue unique to its branches in Paris. Here, the population is high and branches tend to be small, so it was easy for customers to overhear confidential information when queuing. Being able to understand exactly what was happening allowed the bank to put in place more stringent client confidentiality measures.



Catering to local preferences: Belgium has three official languages: French, Dutch, and German. Proxem Studio revealed that high net-worth individuals in Brussels, which expect a high quality of service, wanted to be able to speak to advisors in their native language.




Over the last decade, we’ve been capturing the voice of customers to help companies automatically analyze tens of millions of customer feedbacks and extract the information they need to improve their offering and gain a competitive advantage. For over a year now, we have been investing heavily in LLMs (large language models), the foundation of generative AI. These models enable us to go even further in terms of in-depth natural language understanding, and intelligent text generation: it&#8217;s never been so easy to dialogue with the machine!



François-Régis Chaumartin, Vice President of Semantic Data Science at NETVIBES, Dassault Systèmes




Want to find out more about how you can transform your customer experience? ?







DON&#8217;T MISS RELATED BLOG POSTS




Virtual Twins: Not just for manufacturing anymore…



Virtual Twins: Pioneering Operational Resilience for Future-Ready Financial Services



Cloud sovereignty and investment compliance












Taherah KUHL, Vice President Business Services Industry, Dassault Systèmes



Taherah has worked at Dassault Systèmes for the past 7 years. Focused on the Financial Services &amp; Logistics industries globally, Taherah is responsible for driving the industry strategy and vision.&nbsp;LinkedIn profile



François-Régis CHAUMARTIN, Vice President of Semantic Data Science at NETVIBES, Dassault Systèmes



François-Régis is the founder of Proxem, a start-up specialized in semantic analysis, acquired by Dassault Systèmes in 2020. He is the author of Le Traitement Automatique des Langues (published by Dunod). LinkedIn profile




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      <title>
      <![CDATA[ Accelerating Digital Transformation in Asia Pacific Rail: The Dassault Systèmes way ]]>
      </title>
      <link>https://blog--3ds--com.apsulis.fr/brands/delmia/accelerating-digital-transformation-asia-pacific-rail/</link>
      <guid>https://blog--3ds--com.apsulis.fr/guid/269621</guid>
      <pubDate>Wed, 25 Sep 2024 07:52:39 GMT</pubDate>
      <description>
      <![CDATA[ Virtual twin technologies, supported by the 3DEXPERIENCE platform, drive digital transformation in the rail industry by enhancing design, operations, workforce training, and infrastructure efficiency while addressing challenges such as legacy systems and workforce skills.
 ]]>
      </description>
      <content:encoded>
      <![CDATA[ 
Prashanth Mysore, Senior Director, Global Strategic Business Development; Rob Driessen, Services Director, Rail Digital Transformation; Phil Barrett, Head of Rail Business, ANZ; Tony Rakuljic, Senior Client Executive – Rail; and Biswajyoti Shome, Industry Process Consultant Senior Manager, Dassault Systèmes



This article is based on insights from the panel discussion held during the &#8216;Sustainable Rail Operations with Virtual Twins&#8217; webinar on August 1, 2024. You can watch the replay of the webinar here.



Virtual twin technologies are key to faster digital transformation in rail as the rail renaissance gathers pace. To begin with, the use of virtual twins in manufacturing helps enhance the design of trains to make rail transport a competitive option. In fact, rail companies are experimenting with virtual twin technologies to bring enhancements and efficiencies in the entire rail transport value chain, not just manufacturing.



Although rail operators realise the value of virtual twin technologies, companies in the Asia Pacific region are at various levels of proficiency with regard to digitalisation and the acquisition of skills required to accelerate digital transformation using virtual twin technologies. How do rail operators accelerate digital transformation using virtual twin technologies?



First of all, a progressive digital transformation journey begins with the assessment of current processes to identify where digitalisation can drive transformation across operations. The virtual simulation capabilities of virtual twins can model and optimise current rail operations. The simulation capabilities also help simulate various scenarios around energy usage to achieve higher energy efficiency and meet sustainability objectives.




Virtual twin technologies help design and develop a more sustainable infrastructure. They also support retrofitting existing infrastructure to improve their efficiency.




The virtual twin technologies are also key to ensuring that rail infrastructure companies can streamline operations and infrastructure utilisation to maximise value and reduce time to value. However, challenges such as legacy infrastructure technologies, resistance to change, the high initial investment and ensuring interoperability of various technologies can stall digital transformation initiatives.



Attracting and enabling a digitally empowered workforce







Successful digital transformation requires the rail workforce to be adequately trained to navigate through the functions of virtual twin technologies to maximise their value. Currently organisations in the Asia Pacific south region face major challenges to acquire the skills required to embrace the rail renaissance. The technologies embedded in Dassault Systèmes’ 3DEXPERIENCE platform such as virtual and augmented reality support enhanced training by providing an immersive and hands-on experience in processes essential to increase efficiency and safety.




The embedding of virtual twin technologies in the rail value chain from manufacturing to scheduling and to maintenance is key to attracting the digital native workforce into the industry and ensuring that they can seamlessly integrate into the work environment.




At the same time, the virtual twin technologies are required to manage the skills and competencies of the existing workforce too, to ensure their efficiency and productivity while meeting all safety requirements. Similarly, with the planning, scheduling and real time monitoring capabilities of Dassault Systèmes’ 3DEXPERIENCE platform, organisations can optimise workforce schedules and rationalise workloads considering all the constraints such as regulations, skills, and work-life balance.



Optimizing operations and reducing time to value







The platform delivers the real time visibility to ensure immediate adjustments are made to schedules to reduce disruptions in the operations. Dassault Systèmes’ clients have benefited from the efficiency introduced by the platform through less cancellations, reduced overtime and increased on-time performance. The planning process itself is a lot more streamlined in such a way that it results in better compliance with labour standards prevalent in the region.



The virtual twin technologies are also key to ensuring that rail infrastructure companies can streamline operations and infrastructure utilisation to maximise value and reduce time to value. However, challenges such as legacy infrastructure technologies, resistance to change, the high initial investment and ensuring interoperability of various technologies can stall digital transformation initiatives.




Rail operators are required to adopt a strategic approach to digital transformation to reduce time to value. This means the digital transformation strategy should be aligned with business objectives while considering industry challenges.




The strategy should have clear and actionable long-term goals. Continuous training and support is required to build digital competencies in the workforce which will reduce resistance to change and ease the adoption of digital technologies.



A digital ROI analysis that focuses on quick wins and areas with high potential helps keep the digital transformation strategy aligned with long term goals. This approach will help reduce uncertainties and accelerate the time to value. In terms of people, process and technology, partnering with the right technology partners is essential to ensure interoperability between the systems while also ensuring that the digitalised processes actually work for the users.



Leveraging data: Understanding the right technologies is key







It is key to understand which technologies can provide the best data points to drive digital transformation and the typical challenges that might occur while using data intelligence or insights for enhanced decision making. Virtual twin technologies are used to create virtual models of physical assets, simulate scenarios to improve performance, predict maintenance needs, and plan and execute maintenance tasks.



AI and ML provide virtual twins the ability to adapt and learn from real-time data sets to dynamically influence operations as scenarios change. The 3DEXPERIENCE platform is a unified cloud-based environment that supports data-driven modelling, simulation and integration while also supporting seamless collaboration and sharing of models across multiple disciplines such as engineering, maintenance and operations. Using virtual twin-based models, rail operators can support traceability with a common thread across user communities which ultimately leads to increased adoption of digital technologies to drive digital transformation.




An interconnected digital infrastructure helps bolster operations continuity and reduce volatility. The use of AI and automation and adoption of real time monitoring enhances the digital connectivity to ensure the resilience of operations.




Embracing digital technologies from the beginning of a project will serve organisations well in ensuring continuity and resilience in operations. The virtual twins provide the deep visibility to identify accurate solutions to slowing traffic or delays and disruption.



Dassault Systèmes helps accelerate digital transformation



Dassault Systèmes’ assessment-led discoveries help identify the use cases within the business that need to be solved through digital transformation. Our onshore and offshore teams can work collaboratively with client teams while cloud-based solutions deliver scalability and flexibility which help accelerate the implementation of digital transformation projects. Virtual twin experiences based on virtual twins-as-a-service model help create accelerated paths to value bringing together diverse communities and data across different domains.



Dassault Systèmes helps contextualise legacy systems and data through collaborative tools to enable seamless implementations of digital transformation projects. Our collaborative tools help integrate existing tools without the need to replace them while also streamlining planning and optimizing processes.



For companies interested in deploying virtual twin technologies, Dassault Systèmes can help model infrastructure, supply chain initiatives, or operations using the 3DEXPERIENCE platform’s animation and simulation capabilities while bringing in model-based systems engineering (MBSE) to quickly realise the true value of virtual twins.



Our execution management methodologies help organisations smoothen their path to execution for day of operations planning. Finally, the contextualisation of data from various sources, for example, upgraded old infrastructure, turbo charges decision automation. Starting small and realising value in calibrated steps is key to achieving the stakeholder buy-in which is essential to successfully completing digital transformation projects.
 ]]>
      </content:encoded>
      </item>
<item>
      <title>
      <![CDATA[ Accelerating digital transformation in Asia Pacific rail: The Dassault Systèmes way ]]>
      </title>
      <link>https://blog--3ds--com.apsulis.fr/brands/delmia/accelerating-digital-transformation-in-asia-pacific-rail-the-dassault-systemes-way/</link>
      <guid>https://blog--3ds--com.apsulis.fr/guid/269432</guid>
      <pubDate>Mon, 23 Sep 2024 04:33:29 GMT</pubDate>
      <description>
      <![CDATA[ Virtual twin technologies, supported by the 3DEXPERIENCE platform, drive digital transformation in the rail industry by enhancing design, operations, workforce training, and infrastructure efficiency while addressing challenges such as legacy systems and workforce skills.
 ]]>
      </description>
      <content:encoded>
      <![CDATA[ 
Prashanth Mysore, Senior Director, Global Strategic Business Development; Rob Driessen, Services Director, Rail Digital Transformation; Phil Barrett, Head of Rail Business, ANZ; Tony Rakuljic, Senior Client Executive – Rail; and Biswajyoti Shome, Industry Process Consultant Senior Manager, Dassault Systèmes



This article is based on insights from the panel discussion held during the &#8216;Sustainable Rail Operations with Virtual Twins&#8217; webinar on August 1, 2024. You can watch the replay of the webinar here.



Virtual twin technologies are key to faster digital transformation in rail as the rail renaissance gathers pace. To begin with, the use of virtual twins in manufacturing helps enhance the design of trains to make rail transport a competitive option. In fact, rail companies are experimenting with virtual twin technologies to bring enhancements and efficiencies in the entire rail transport value chain, not just manufacturing.



Although rail operators realise the value of virtual twin technologies, companies in the Asia Pacific region are at various levels of proficiency with regard to digitalisation and the acquisition of skills required to accelerate digital transformation using virtual twin technologies. How do rail operators accelerate digital transformation using virtual twin technologies?



 First of all, a progressive digital transformation journey begins with the assessment of current processes to identify where digitalisation can drive transformation across operations. The virtual simulation capabilities of virtual twins can model and optimise current rail operations. The simulation capabilities also help simulate various scenarios around energy usage to achieve higher energy efficiency and meet sustainability objectives.




Virtual twin technologies help design and develop a more sustainable infrastructure. They also support retrofitting existing infrastructure to improve their efficiency.




The virtual twin technologies are also key to ensuring that rail infrastructure companies can streamline operations and infrastructure utilisation to maximise value and reduce time to value. However, challenges such as legacy infrastructure technologies, resistance to change, the high initial investment and ensuring interoperability of various technologies can stall digital transformation initiatives.



Attracting and enabling a digitally empowered workforce







Successful digital transformation requires the rail workforce to be adequately trained to navigate through the functions of virtual twin technologies to maximise their value. Currently organisations in the Asia Pacific south region face major challenges to acquire the skills required to embrace the rail renaissance. The technologies embedded in Dassault Systèmes’ 3DEXPERIENCE platform such as virtual and augmented reality support enhanced training by providing an immersive and hands-on experience in processes essential to increase efficiency and safety.




The embedding of virtual twin technologies in the rail value chain from manufacturing to scheduling and to maintenance is key to attracting the digital native workforce into the industry and ensuring that they can seamlessly integrate into the work environment.




At the same time, the virtual twin technologies are required to manage the skills and competencies of the existing workforce too, to ensure their efficiency and productivity while meeting all safety requirements. Similarly, with the planning, scheduling and real time monitoring capabilities of Dassault Systèmes’ 3DEXPERIENCE platform, organisations can optimise workforce schedules and rationalise workloads considering all the constraints such as regulations, skills, and work-life balance.



Optimising operations and reducing time to value







The platform delivers the real time visibility to ensure immediate adjustments are made to schedules to reduce disruptions in the operations. Dassault Systèmes’ clients have benefited from the efficiency introduced by the platform through less cancellations, reduced overtime and increased on-time performance. The planning process itself is a lot more streamlined in such a way that it results in better compliance with labour standards prevalent in the region.



The virtual twin technologies are also key to ensuring that rail infrastructure companies can streamline operations and infrastructure utilisation to maximise value and reduce time to value. However, challenges such as legacy infrastructure technologies, resistance to change, the high initial investment and ensuring interoperability of various technologies can stall digital transformation initiatives.




Rail operators are required to adopt a strategic approach to digital transformation to reduce time to value. This means the digital transformation strategy should be aligned with business objectives while considering industry challenges.




The strategy should have clear and actionable long-term goals. Continuous training and support is required to build digital competencies in the workforce which will reduce resistance to change and ease the adoption of digital technologies.



A digital ROI analysis that focuses on quick wins and areas with high potential helps keep the digital transformation strategy aligned with long term goals. This approach will help reduce uncertainties and accelerate the time to value. In terms of people, process and technology, partnering with the right technology partners is essential to ensure interoperability between the systems while also ensuring that the digitalised processes actually work for the users.



Leveraging data: Understanding right technologies the key







It is key to understand which technologies can provide the best data points to drive digital transformation and the typical challenges that might occur while using data intelligence or insights for enhanced decision making. Virtual twin technologies are used to create virtual models of physical assets, simulate scenarios to improve performance, predict maintenance needs, and plan and execute maintenance tasks.



AI and ML provide virtual twins the ability to adapt and learn from real-time data sets to dynamically influence operations as scenarios change. The 3DEXPERIENCE platform is a unified cloud-based environment that supports data-driven modelling, simulation and integration while also supporting seamless collaboration and sharing of models across multiple disciplines such as engineering, maintenance and operations. Using virtual twin-based models, rail operators can support traceability with a common thread across user communities which ultimately leads to increased adoption of digital technologies to drive digital transformation.




An interconnected digital infrastructure helps bolster operations continuity and reduce volatility. The use of AI and automation and adoption of real time monitoring enhances the digital connectivity to ensure the resilience of operations.




Embracing digital technologies from the beginning of a project will serve organisations well in ensuring continuity and resilience in operations. The virtual twins provide the deep visibility to identify accurate solutions to slowing traffic or delays and disruption.



Dassault Systèmes helps accelerate digital transformation



Dassault Systèmes’ assessment-led discoveries help identify the use cases within the business that need to be solved through digital transformation. Our onshore and offshore teams can work collaboratively with client teams while cloud-based solutions deliver scalability and flexibility which help accelerate the implementation of digital transformation projects. Virtual twin experiences based on virtual twins-as-a-service model help create accelerated paths to value bringing together diverse communities and data across different domains.



Dassault Systèmes helps contextualise legacy systems and data through collaborative tools to enable seamless implementations of digital transformation projects. Our collaborative tools help integrate existing tools without the need to replace them while also streamlining planning and optimizing processes.



For companies interested in deploying virtual twin technologies, Dassault Systèmes can help model infrastructure, supply chain initiatives, or operations using the 3DEXPERIENCE platform’s animation and simulation capabilities while bringing in model-based systems engineering (MBSE) to quickly realise the true value of virtual twins.



Our execution management methodologies help organisations smoothen their path to execution for day of operations planning. Finally, the contextualisation of data from various sources, for example, upgraded old infrastructure, turbo charges decision automation. Starting small and realising value in calibrated steps is key to achieving the stakeholder buy-in which is essential to successfully completing digital transformation projects.
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      <title>
      <![CDATA[ Cloud sovereignty and investment compliance ]]>
      </title>
      <link>https://blog--3ds--com.apsulis.fr/industries/business-services/cloud-sovereignty-and-investment-compliance/</link>
      <guid>https://blog--3ds--com.apsulis.fr/guid/269100</guid>
      <pubDate>Thu, 12 Sep 2024 07:39:56 GMT</pubDate>
      <description>
      <![CDATA[ Discover how to integrate innovation and net-zero goals with data security and compliance risks through the power of cloud sovereignty
 ]]>
      </description>
      <content:encoded>
      <![CDATA[ 
Financial services institutions recognize the huge value of cloud computing, yet as adoption rates grow, so do concerns around data security. Sovereign cloud offers a way for them to launch innovative investment products and services, better understand the market, and adhere to ever stringent data security regulations.



The innate cost effectiveness, flexibility and scalability of cloud computing makes it an engine for transformative change in most industries today. As many as 91% of banks and insurance companies have embarked on cloud transformation journeys to become more agile, innovative and productive. And yet the vast majority aren’t tapping into the full potential of those benefits as they’ve only moved a small proportion of their business-critical operations to the cloud.



Why? It ultimately comes down to data security. In one survey, global leaders cited “security and compliance risks” as a top barrier to achieving expected cloud value. To protect their most sensitive data and adhere to stringent regulatory requirements, banks and insurance companies still largely rely on private cloud and on-premises environments to house their core business applications. In some cases, this has hindered them from accessing new technology breakthroughs in the public cloud. However, a fast-emerging cloud computing architecture called sovereign cloud offers a way for even the most highly regulated industries to combine the best of both worlds of security and innovation.



Sovereign cloud is ultimately about storing critical data within a specific location, such as a local country or region, and protecting it from foreign access. It means that users can be sure that their data complies with all the latest data privacy and security standards in a certain country or sector. Over the last couple of years in particular, more major cloud providers have begun to offer sovereign clouds to keep up with demand for greater control over how data is used and shared.



Regulatory compliance and data protection in the sovereign cloud



In the investment space, companies must navigate a challenging and complex regulatory landscape. In 2023, financial institutions spent over US$206 billion on compliance alone.




Today’s fast-moving political landscape and fluctuating economic conditions play into the whole concept of sovereignty. Particularly in Europe, there’s a great deal of pressure on the financial sector to ensure information privacy and up their risk management strategies in accordance with the likes of the General Data Protection Regulation and the Digital Operational Resilience Act (DORA).
Taherah Kuhl, Vice President of Business Services at Dassault Systèmes



These challenges are compounded by the need to deliver greater transparency to investors. Rules like MiFID II (the second Markets in Financial Instruments Directive) and PRIIPS (the Packaged Retail and Insurance-based Investment Products Regulation) put pressure on banks and insurance companies to deliver accurate and clear information to support informed investment decisions. Data, then, and their ability to harness it at scale, implement associated controls and navigate an ever-changing regulatory landscape across multiple countries has become a key competitive differentiator.



For many, this requires a step change in how they manage investment and regulatory compliance – switching from a largely manual to a more automated monitoring approach. Cloud sovereignty opens up exciting opportunities for them to move more of their mission-critical operations to the cloud and take advantage of cutting-edge advances around artificial intelligence (AI) and machine learning (ML) to launch new products to market faster, safe in the knowledge that their data adheres to all the latest industry protocols.




Regulations are changing at an unprecedented pace and bring a lot of new constraints – there is more and more investment compliance to confirm, and these controls need more and more data to compute. Protecting banks’ and asset management companies’ position in the market requires a lot of analysis and intelligence. Asset managers need a new way of managing their funds with the support of technologies such as AI and process automation.
Philippe Miltin, CEO of OUTSCALE at Dassault Systèmes



Sovereign cloud solutions support ESG reporting



The rise of environmental, social and governance (ESG) reporting also fuels the need for greater data insights and transparency. Around 85% of chief investment officers factor ESG impact into their key investment decisions and growing, driven by mandates like the Sustainable Finance Disclosure Regulation (SFDR), which require financial institutions to provide ESG information to investors, such as a company’s carbon footprint across business functions and products.



Again, sovereign cloud offerings tied up with ESG impact measurement tools will play a pivotal role in helping the industry to manage reporting and achieve their sustainability goals.




Attention is really shifting to ESG and how to meet net-zero requirements. It’s no secret that there’s a lot of greenwashing still happening right now, so financial institutions must be diligent when it comes to labelling their bonds and investment products as being ESG compliant. Again, data-driven insights are critical.
Taherah Kuhl, Vice President of Business Services at Dassault Systèmes



Why financial services companies choose OUTSCALE



Banks and insurance companies increasingly look to sovereign cloud solutions like OUTSCALE Business Experience for Financial Services to support their operational and regulatory challenges as well as to optimize data management and automate certain tasks.




We’ve already worked with many financial institutions to provide our sovereign cloud solution. Facing different regulations in different geographies, they must show that they have the correct security credentials in place and that increasingly means they need to use cloud environments with the recognized certifications for specific regions. Looking ahead, organizations may not completely replace their existing cloud providers, but they may have certain data that they prefer to store with a specialized sovereign cloud provider.
Taherah Kuhl, Vice President of Business Services at Dassault Systèmes



Packaged within OUTSCALE, users can expect:




Strong industry expertise and awareness of the issues financial institutions face.



Powerful AI models and proprietary algorithms.



Sovereign cloud environment to manage compliance with industry regulations: OUTSCALE’s commitment to legal and regulatory compliance sets it apart as a trusted partner, particularly on French territory.



Global presence: OUTSCALE’s agility to adapt to changing national and international regulations positions it as a reliable partner for financial institutions



Sustainable platform to support the financial services in their ESG and net zero objectives.



Independent technology provider: Financial institutions recognize the value of sourcing services from OUTSCALE rather than competitors within their own sector, appreciating OUTSCALE&#8217;s focus on innovation and tailored solutions.





Today, other vendors might offer parts of our solution, but none is proposing a comprehensive experience running on a sovereign cloud to ensure the security of information. OUTSCALE promises to rationalize processes and enhance overall efficiency, leveraging the power of AI to automate low-value tasks. This efficiency and client-centric security hold the potential to improve the investment banking experience and contribute to the global positive transformation of the industry.
Philippe Miltin, CEO of OUTSCALE at Dassault Systèmes















Taherah KUHL, Vice President Business Services Industry, Dassault Systèmes



Taherah has worked at Dassault Systèmes for the past 7 years. Focused on the Financial Services &amp; Logistics industries globally, Taherah is responsible for driving the industry strategy and vision.&nbsp;LinkedIn profile



Philippe MILTIN &#8211; CEO of OUTSCALE, Dassault Systèmes



After more than fifteen years at Bull and then Atos, Philippe Miltin assumed leadership at OUTSCALE, a Dassault Systèmes brand, in September 2022. His mission is to position OUTSCALE as the sovereign and sustainable operator of trusted experience as a service. LinkedIn profile
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      <![CDATA[ Virtual twins drive sustainability in the entire rail value chain ]]>
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      <link>https://blog--3ds--com.apsulis.fr/industries/business-services/virtual-twins-sustainability-rail-value-chain/</link>
      <guid>https://blog--3ds--com.apsulis.fr/guid/268915</guid>
      <pubDate>Fri, 06 Sep 2024 05:20:03 GMT</pubDate>
      <description>
      <![CDATA[ Railways worldwide are leveraging digital technologies, including virtual twins, to drive sustainability through decarbonization, efficient asset management, and optimized service delivery, enhancing operations, reducing waste, and minimizing emissions.
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      <![CDATA[ 
Biswajyoti Shome, Industry Process Consultant Senior Manager, Dassault Systèmes



Railways worldwide are increasingly leveraging digital technologies to drive sustainability throughout their value chains. Central to this effort are decarbonization initiatives that are gaining momentum as operators invest in renewable energy and more efficient sources of power. Digitalization, in particular, is proving to be a key enabler, with technologies such as the Internet of Things (IoT), AI, and virtual twins playing a pivotal role. These technologies not only enhance rail operations but also improve comfort, security, and environmental sustainability.



Virtual twins are helping to shape the future of rail, enabling seamless collaboration through integrated workflow modeling and optimization of people, processes, and technology. Whether used in system design, rolling stock manufacturing, or infrastructure management, virtual twins make it possible to incorporate sustainability into every step of the process. This includes optimizing transport services, automating maintenance, and ensuring asset management is both efficient and sustainable.



Dassault Systèmes supports clients across the rail value chain, from infrastructure management to rolling stock, signaling, freight and passenger operations, and service maintenance, using virtual twins to drive sustainability.



Model-based design ensures end-to-end digital connectivity







Model-based design allows Dassault Systèmes to connect infrastructure, rolling stock, and signaling systems, ensuring operational connectivity across various systems. Model-based systems engineering (MBSE) also validates complex subsystems, supporting interoperability among the systems and predicting changes early using virtual twins.



Together, MBSE and virtual twins enable simulations that drive the development of reliable and resilient railway systems. By linking system design with infrastructure design, these technologies foster innovation in product development and engineering.



Key benefits of virtual twins include multi-BIM support, data-centric collaboration, and a unified source of truth. This allows for concurrent design and knowledge-driven automation, improving efficiency and sustainability in the construction and design of railway infrastructure.



These advancements benefit not only large infrastructure firms such as EPC companies, design and construction specialists, and consultants, but also those involved in the operational and maintenance phases. By optimizing workflows and supporting real-time collaboration, Dassault Systèmes’ 3D-based lean collaboration tools ensure teams can move from paper-based processes to digital operations and collaborate in real time, enhancing sustainability across the network.



Ensuring sustainability in asset management with virtual twins







Focusing on assets, lifecycle assessment (LCA) of rail infrastructure is key to sustainability. The primary goals of LCA are reducing energy consumption and lowering carbon emissions. Achieving sustainability involves capturing carbon dioxide emissions early in asset design, balancing cost efficiency and environmental impact, and finding sustainable alternatives.



These processes maximize resource use, minimize waste throughout the asset lifecycle, and support compliance with industry regulations. LCA can be applied to rolling stock, signaling systems, and other processes across the rail industry.



A robust virtual twin platform is essential for real-time monitoring and assessment of rail infrastructure. From network planning to asset maintenance and real-time monitoring, virtual twins integrate data from various sources to provide insights and enable quick decision-making. Additionally, they reduce downtime and operational costs.



Dassault Systèmes uses virtual twins to help OEMs, component suppliers, and licensed maintenance providers optimize production. Key steps include managing component configurations, simulating designs to reduce material waste, selecting optimal materials, and defining processes with retrofit potential.



As decarbonization efforts grow, retrofitting is more important than ever. Virtual twins streamline production processes across the rail network, extending the life of rolling stock and improving efficiency. By simulating and validating processes, virtual twins enable smoother operations and higher productivity.



Driving sustainability in rail service delivery







For rail service delivery, including both freight and passenger operations, Dassault Systèmes offers four key enablers for AI-based planning and optimization:




Service and network planning



Fleet planning



Terminal and yard extension planning



Queue planning




The integrated freight rail solution connects terminal and yard management, improving service reliability by matching customer demand with available resources and optimizing service configurations. It also enhances operational efficiency by coordinating arrivals and departures, while optimizing the use of rolling stock and crew based on service requirements.



This solution further optimizes fleet planning and scheduling, improving resource utilization and reducing idle times. It helps control costs by maximizing train utilization and operational flexibility, while managing conflicting demands from infrastructure managers and terminal operators. Additionally, it delivers reliable, traceable, and affordable services.



The solution enables profitable planning decisions while balancing manpower requirements. It also helps manage daily and seasonal disruptions effectively, all while meeting sustainability objectives.



For passenger operations, rail operators must ensure real-time dispatch and disruption management, with full visibility into resources and planning decisions. An integrated planning solution provides decision support for efficient planning, scheduling, and execution of rail services.



This integrated solution enhances demand forecasting, allowing operators to accurately predict passenger demand and ensure capacity meets requirements. It also supports disruption management and efficient day-of-operations planning to maintain service quality and improve resource allocation. Additionally, it helps operators comply with regulatory standards while optimizing the use of trains and personnel.



With connected end-to-end operations, rail operators can ensure the profitability of both freight and passenger services while maintaining customer satisfaction. By improving customer service and on-time delivery, the integrated planning solution enhances overall operational effectiveness, reduces costs, and fosters a culture of sustainability.



Ensuring sustainable operations in maintenance



To maximize rolling stock availability, rail operators must streamline maintenance planning and scheduling by integrating it with the operational timetable. They are also required to test and validate new maintenance strategies in a virtual environment before implementation.



Dassault Systèmes focuses on three key areas related to asset management and maintenance:




Maintenance planning and scheduling



Maintenance engineering



360-degree view of maintenance (maintenance intelligence)




Maintenance planning and scheduling is integrated with the operational timetable, allowing operators to simulate and test strategies in a virtual environment before deployment. This reduces downtime and minimizes disruptions, ensuring maximum uptime for rolling stock while embedding sustainability into maintenance operations.



Maintenance engineering ensures digital continuity from engineering to execution by applying MRO and ILS management standards. It also supports parts tracking and supply, ensuring that maintenance standards are enforced. The virtual twin-based solution provides a single platform for managing rolling stock from design to maintenance engineering.



The 360-degree view, powered by maintenance intelligence, gives operators comprehensive insight into fleet availability. Virtual twin technology aggregates data from multiple sources, providing real-time insights to support decision-making and maintenance strategy adjustments. This data-driven approach ensures efficient decision-making during maintenance execution.







Embedding sustainability: Where to start?



How can rail operators ensure a sustainable transformation journey using virtual twins?



The first step is to assess current processes to identify areas for improvement. By modeling and simulating rail operations, operators can reduce waste and energy consumption while finding optimal alternatives. Virtual twins aid in designing new sustainable infrastructure and retrofitting existing facilities to improve environmental performance and energy efficiency. These tools also support integrated planning for capacity, services, crew, and terminal operations, helping to maximize resource utilization and minimize both energy consumption and emissions.



Finally, it is crucial to integrate virtual twins into existing systems and train the workforce in their use to ensure sustainability goals are fully realized.
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      <![CDATA[ We Need to Talk About Hardware ]]>
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      <link>https://blog--3ds--com.apsulis.fr/brands/3dexcite/we-need-to-talk-about-hardware/</link>
      <guid>https://blog--3ds--com.apsulis.fr/guid/265941</guid>
      <pubDate>Wed, 19 Jun 2024 10:34:20 GMT</pubDate>
      <description>
      <![CDATA[ To date, experience engineering was mostly a concern of functions outside product development such as marketing and sales. However, the arrival of more powerful silicon will drive the arrival of experience engineering within many more categories.
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      <![CDATA[ 
Silicon innovation is gearing up as manufacturers outside of traditional client, server, or mobile computing make their products more intelligent and more intelligently.  As a result of increasingly software-enabled product definition, experience design is becoming an integral part of engineering teams.







A systems engineering boss at a leading car OEM told me recently, “We need to focus more on user experience because buttons in the cockpit keep disappearing”.&nbsp;Writing this now using a virtual keyboard on a phone with no wires is literal proof that, “software is eating the world”. But the experience of writing (or reading) something on LinkedIn is not only down to software but also a screen, sensors, a battery, and, above all, a lot of very efficient silicon &#8211; a cyber-physical system that gives us superpowers.&nbsp;



New AI paradigms, along with virtual twins, are powering the innovation of things, such as robots and spatial computers but the engineering of systems is fundamentally powered by the engineering of silicon.&nbsp;This relationship makes advances in silicon a leading indicator for advances in nearly every other industry and there is now a frenzy to build more fabs on smaller nodes to support more diverse instruction sets than ever before.&nbsp;This will have radical consequences for other industries.







In part, the silicon expansion is being driven by government investment into established players, with billions flowing to Intel, TSMC &amp; Samsung from the US CHIPS Act alone (the EU is making a similar play).&nbsp;The flood of investment dollars is also boosting new ventures, such as the Snapdragon X ELITE,&nbsp;Jim Keller’s Tenstorrent, and a wave of in-house silicon being developed by everyone from hyperscalers to car companies.



This progress at the base of the real economy stack will ultimately create a value dividend all the way up.&nbsp;More powerful chips will lead to more capable software, fuelling more intelligent product ecosystems, more responsive services, and more transformative experiences for more people.&nbsp;The progression of economic value coming in the next few years is inevitable but because it’s not yet here, cause and effect are not immediately obvious.&nbsp;How are we going to get organized to deliver this progress, when it will only be observable after the fact?







The impending boost to the experience economy means it’s time to reorganize. To date, experience engineering was mostly a concern of functions outside product development such as marketing and sales. This was mostly a consequence of the explosion of computing triggered by the Internet, to date mostly felt in publishing, advertising, commerce, and business services. However, the arrival of more powerful silicon will drive the arrival of experience engineering within many more categories. Organizational reform is a logical consequence of this evolution of data processing architectures: ECUs in cars give way to high-performance computing and PLC’s in factories give way to processing capable of greater autonomy.







The industries most likely affected in the short term will be those where there is already a lot of computing, albeit on less advanced silicon, which is why we keep seeing demos of smart factories, smart cars, and smart medical devices.&nbsp;However, to deliver the benefits of the new potential, developers need to be able to model use cases across domains and incorporate end-user experience through the stack.
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      <![CDATA[ Virtual Twins: Pioneering Operational Resilience for Future-Ready Financial Services ]]>
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      <link>https://blog--3ds--com.apsulis.fr/industries/business-services/virtual-twins-pioneering-operational-resilience-for-future-ready-financial-services/</link>
      <guid>https://blog--3ds--com.apsulis.fr/guid/259354</guid>
      <pubDate>Thu, 16 May 2024 14:38:54 GMT</pubDate>
      <description>
      <![CDATA[ Discover the regulatory landscape of financial services and how companies can use Virtual Twin to stay ahead of competition
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      <![CDATA[ 
How do Virtual Twins drive regulatory compliance in Financial Services?



In our previous blog, “Virtual Twins: Not Just for Manufacturing Anymore”, we introduced the concept of the virtual twin of a service or a financial product, such as an insurance policy or a bank account, where data &amp; processes, rather than physical products, are what you model. These virtual twins offer the same benefits in understanding complex operational ecosystems and their upstream and downstream dependencies as twins of physical products do.  They also enable organizations to see overlaps, vulnerabilities and to be able to drive efficiencies. In this blog, we will explore the role of virtual twins in regulatory compliance. 



Global regulators are converging around the need for financial service companies to go beyond “Disaster Recovery” or “Business Continuity”.&nbsp; Now they are requiring firms to ensure they are operationally resilient.&nbsp; Of course, the regulations vary a bit by jurisdiction, but they all require firms identify important business services (e.g. bill payments or claims processing) and critical third parties, and share regular reporting to the regulators around their resilience.&nbsp; &nbsp;&nbsp;



Let&#8217;s take a closer look at the current regulatory compliance landscape:




In the UK and US, the regulation is called&nbsp;Operational Resilience.&nbsp;








Zoom UK: What are the requirements of Operational Resilience in the United Kingdom?



The UK has set Operational Resilience requirements to encourage companies to better prepare, respond and adapt to possible disruptions. The key components and deadlines of Operational Resilience in the UK are:




Identify important business services. Which services, if disrupted, could cause severe damage? (Deadline March 2022)





Set impact tolerances for each important business service for “severe but plausible” disruptions.&nbsp; (Deadline March 2022)



Carry out a mapping exercise that includes people, processes, technologies, facilities and third parties that are critical to each important business service.&nbsp; (Deadline 2025)



Carry out appropriate scenario testing for each important business service to assess whether they remain within the impact tolerances set.&nbsp; All tests must document lessons learned and any updates made as a result.&nbsp; (Deadline 2025)



Complete the Operational Resilience Self-assessment documentation as required.&nbsp; (Ongoing)








Zoom US&nbsp;: And just recently, the Office of the Comptroller of the Currency in the US,&nbsp; emphasized the importance of Operational Resilience at the International Bankers Annual Washington Conference1.




In the EU, the regulation is called&nbsp;DORA&nbsp;(Digital Operational Resilience Act).&nbsp;








What are the 5 pillars of DORA?




ICT (Information &amp; Communication Technology) Risk Management &amp; Governance



Incident Reporting



Digital Operational Resilience testing



ICT (Information &amp; Communication Technology) third party risk



Information Sharing








Regulators in Canada, Australia and other regions are also prioritizing regulations like DORA.



By using virtual twin technologies, large, complex organizations can meet the regulatory obligations of Operational Resilience:




Model the entire operational ecosystem to identify important business services and dependencies



Stress test the model for severe but plausible disruptions



Identify gaps and vulnerabilities before they occur in production



Mitigate potential risks in production to ensure resilience








How will you meet the requirements of Operational Resilience/DORA regulations?  



Operational&nbsp;resilience&nbsp;has garnered considerable attention as of late, driven by various regulators in the finance and banking sectors. However, a 2023 survey conducted by the Business Continuity Institute (BCI )2&nbsp;shows significant growth across&nbsp;all industry sectors. More than three-quarters (76.6%) of surveyed organizations reported that they have an operational resilience program in place or are actively building one.&nbsp; Of these, only 40.6% were banking and finance organizations.



Where&nbsp;operational resilience&nbsp;programs are in process or in place in&nbsp;financial services, they are a top focus. The survey found that of those banking and finance organizations with operational resilience programs, over 87% cited regulatory compliance as the primary driver. Because of the regulatory focus, over 48% of firms surveyed had Operational Resilience efforts being led by senior management (22% CEO, 14% Executive Director and nearly 13% Chief Operations Officer).



Regulators are going to require firms to test and report on their resilience.&nbsp; With a virtual twin of the operational ecosystem, a bank or insurer or investment management company could easily respond to regulatory queries like:&nbsp; &nbsp;&nbsp;



Q1.: How do you assess and mitigate the potential for a cyberattack on one of your processes, applications or servers?&nbsp;



A:  A virtual twin provides traceability across the entire ecosystem so you could see the services impacted immediately and over time. Organizations can simulate attacks to any aspect of the ecosystem within the virtual twin to predict and prevent the impacts of cyberattacks upstream and downstream.      



Q2:&nbsp; What is your protocol for a failed data feed or third party process failure?&nbsp; How do you assess and mitigate the impact?&nbsp;



A:  Virtual twins can capture dependencies and highlight down-stream effects quickly and easily. This would enable firms to create specific mitigation plans for each scenario.  Stress tests could be conducted and over time, failure mode effect analyses could be used to predict and prevent failures in the future. Financial Service organizations could begin to ask their providers (ICT’s and others) to provide scenario tests and analytics so they might need to implement virtual twins as well. 



Q3:&nbsp; How do you handle urgent upgrades or patches?&nbsp; Ones that can’t wait for a weekend?



A:  Test the patch or upgrade in the virtual twin to identify any potential service interruptions before putting it into production. A comprehensive, updated virtual twin helps eliminate down time and the risks that come with it.      



Q4: How do you assess and integrate new business acquisitions or new processes while minimizing impact to the broader organization?&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;



A: Use the virtual twin to model the new business/process and identify dependencies, overlaps or gaps. The virtual twin can be used to identify operational efficiencies and risks using a model based systems engineering approach or MBSE. This drives a more holistic approach to the mapping processes already used in financial services such that all critical components and dependencies are captured to be able to run simulations.



Moreover, in addition to using virtual twins to meet regulatory compliance obligations, financial organizations can use virtual twins to drive operational efficiencies.  Virtual twins can be used to help eliminate down time, streamline upgrades, system integrations and patches.  Virtual twins are also a key to cyber security; enabling firms to see and test likely targets for cyber breaches to mitigate those risks.   



Virtual twins are not just for physical products.&nbsp; They can be used to model any complex system and align key stakeholders. &nbsp;They are powerful tools for engagement and collaboration; imagine being able to “show” your board or senior management what happens in a cyber-attack or some other “severe but plausible” disruption scenario. &nbsp;A virtual twin is intuitive and accessible to any business user; no engineering degree is required.&nbsp; &nbsp;Business owners across the organization could access the twin to trace relationships and inter-dependencies and instantly understand how their particular business works, and what it depends on and how it impacts other business silos.&nbsp; &nbsp;&nbsp;&nbsp;



The financial company of the future is the one that understands the power of a virtual twin and leverages that power to be compliant with new regulation and stay ahead of the competition.&nbsp;











1&nbsp;Source: “Acting Comptroller Discusses Operational Resiliency” – News Release 2024-23 by Office of the Comptroller of the Currency



2 Source: “Latest BCI report shows significant growth in operational resilience uptake” by BCI







Taherah KUHL, Vice President Business Services Industry, Dassault Systèmes



Taherah has worked at Dassault Systèmes for the past 7 years. Focused on the Financial Services &amp; Logistics industries globally, Taherah is responsible for driving the industry strategy and vision.&nbsp;LinkedIn profile
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      <![CDATA[ Virtual Twins: Not just for manufacturing anymore&#8230; ]]>
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      <link>https://blog--3ds--com.apsulis.fr/industries/business-services/virtual-twins-not-just-for-manufacturing-anymore/</link>
      <guid>https://blog--3ds--com.apsulis.fr/guid/260002</guid>
      <pubDate>Thu, 18 Apr 2024 06:16:55 GMT</pubDate>
      <description>
      <![CDATA[ Explore how financial services organizations can use Virtual Twins to model complex systems, while reducing their operational and reputational risks.
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Everyone is well acquainted with the concept of digital twins in “physical space”.  We believe the time has come to think about digital twins in “virtual” space.  At Dassault Systèmes, we call them Virtual Twins. 



Virtual Twins in Financial Services?



Digital twins are remaking the world of manufacturing, aerospace and defense in general.&nbsp; Dassault Systèmes has customers using our&nbsp;3DExperience platform, to make a comprehensive, virtual replica of their products: cars, packaging, aircraft.&nbsp; At Dassault Systèmes, we call these “Virtual Twins” and they are driving tremendous operational efficiencies and regulatory compliance across multiple industries.&nbsp;&nbsp; &nbsp;



Modeling in the virtual world enables aerospace and defense firms to optimize designs before building them in the physical world. All aspects of the end product, from aerodynamics to electronics and every bolt and rivet in between, are replicated in the virtual twin. These virtual replicas can be continuously enriched based on real time production and supply chain data; helping firms anticipate issues, and adjust the model to optimize processes. 



The virtual twin runs in parallel with the production environment and is updated with real-time reporting on KPIs for every operation in the aircraft’s complex systems.&nbsp; Having the virtual twin enables the designers, manufacturers and suppliers to assess and test specific designs or changes before the aircraft is made.&nbsp; The virtual twin also helps optimize parts and material supplies over the entire value network.&nbsp;– and even after the aircraft reaches the end of its lifecycle, though virtual tracking &amp; oversight of the disassembly processes for all components and materials



Some say these “virtual twin experiences” could only apply to physical products like planes, cars and packaging.  We think that is short sighted.  We believe virtual twins can be just as revolutionary for financial services.  In fact, we argue that given the complexity of financial service operational ecosystems and the increasingly onerous regulatory environment, virtual twins are becoming essential for large financial service organizations. 



Do you know what you have and how it works?



Seems like a pretty simple question for a CTO or any senior manager within IT in a bank or insurance company.&nbsp; But when you think about the complexity of large financial services organizations – built through multiple acquisitions, spanning multiple businesses across different geographies, various regulatory regimes, encompassing an array of diverse applications, data feeds, and interactions with third party interfaces – you realize that no one can really understand everything they have and how it works without substantial assistance.







You need more than a static flow chart.&nbsp;



You need a full blown model of how everything fits together—like the components of an airplane, you need to know what each part does, where it comes from, what it connects to and how it fits into the larger picture.&nbsp; Like an airplane, you need to be able to test and simulate changes&nbsp;before&nbsp;you implement them.&nbsp; &nbsp;&nbsp;



You need a comprehensive model that can capture complex systems of systems.&nbsp;



You need a robust methodology to describe what everything is and how it works in a consistent way across the organization.&nbsp;



In Engineering speak, you need Model Based Systems Engineering (MBSE) to ensure digital continuity and optimize operational efficiency.&nbsp; &nbsp;



The Virtual Twin of a bank



Imagine what you could do with an accurate, comprehensive virtual twin of your operational ecosystem.  Not just a flow chart.  A twin that is fully connected, end-to-end. No silos, no breaks.  A twin where you can digitally track and monitor each operation, what it depends on and what it delivers downstream to the broader ecosystem. Think of it as a completely accurate Development or “Dev” environment.  One that precisely mimics your Production or “Prod” environment. Financial Service companies can leverage a virtual twin to improve the production environment making it more robust and efficient. 



Recent digital payment outages in US banks provide a perfect example of where a virtual twin could have eliminated several days of a service being down, the reputational damage around that and the regulatory scrutiny that it has brought. &nbsp;



One bank in the U.S. experienced digital payment outages for a few days in January (2023) and another bank experienced something similar with the same digital payment provider at the end of July. Customers were unable to use the digital payment app to pay their bills. After several days, the issue was identified and resolved—but that was after a lot of social media posts, negative press and frustrated and lost customers.&nbsp;



We believe a virtual twin could have helped both banks avoid the outages and the reputational risk they created.&nbsp; With a virtual twin modeling exactly how each system and interface works and what each process depends on and feeds downstream, these banks could have tested any change, patch, upgrade or reconfiguration in the virtual twin before it was implemented in the production systems. Leveraging the same methodologies as the aerospace and defense sector, these banks could have “seen” the potential for an outage and prevented it before it inconvenienced hundreds of customers.



Test changes BEFORE you implement them



Virtual twins help eliminate down time, streamline upgrades, system integrations and patches. With a virtual twin, banks can test any change, patch or upgrade to identify any potential service interruptions&nbsp;before&nbsp;putting them into production. With an accurate virtual twin, organizations do not have to wait for a weekend to install urgent updates and patches, because they have already tested them and know they are going to work as intended.&nbsp; &nbsp;



A virtual twin assists in cyber security too.&nbsp;Virtual twins provide traceability across the entire ecosystem so firms can simulate breaches to any aspect of the ecosystem to predict and prevent the impacts of cyberattacks.&nbsp; By using the virtual twin to see&nbsp;vulnerabilities and dependencies, financial service organizations can test likely targets for attacks and implement processes and changes to mitigate those risks.&nbsp; &nbsp;



Help eliminate surprises in Mergers &#038; Acquisitions



Financial Service firms can also reduce operational and reputational risks associated with mergers and acquisitions using virtual twins of their operations.&nbsp; A virtual twin can be used to assess the operational risks and complexities of business mergers and acquisitions.&nbsp; Integration managers can use the virtual twin to see and address overlaps and gaps within the combined operations; enabling them to realize operational efficiencies on day 1.&nbsp;Virtual twins can also streamline the addition of new business channels by providing visibility around the required people, processes and data in the new venture.&nbsp; &nbsp;



Virtual Twins: The time is now    



Virtual twins are not just for physical products.&nbsp;They can be used to model any complex system within financial services organizations.&nbsp;They are powerful tools for engagement; imagine being able to “show” your board or senior management what happens in a cyber-attack or some other disruption scenario. A virtual twin is intuitive and accessible to any business user; no engineering degree is required.&nbsp;Business owners could access the twin to trace relationships and dependencies and instantly understand how their particular business works, and what it depends on.&nbsp; &nbsp;&nbsp;&nbsp;



The financial company of the future is the one that understands the power of a virtual twin and leverages that power to reduce risk, stay ahead of the competition and be compliant with new regulations.&nbsp;



Stay tuned for the second blog in this series for more on how banks &amp; insurers can use virtual twins to meet the regulatory obligations around DORA and Operational Resilience.&nbsp;







Taherah KUHL, Vice President Business Services Industry, Dassault Systèmes



Taherah has worked at Dassault Systèmes for the past 7 years. Focused on the Financial Services &amp; Logistics industries globally, Taherah is responsible for driving the industry. LinkedIn profile
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      <![CDATA[ 2024 Predictions: What are you most excited about for your industry? ]]>
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      <link>https://blog--3ds--com.apsulis.fr/industries/aerospace-defense/2024-predictions-from-across-industries/</link>
      <guid>https://blog--3ds--com.apsulis.fr/guid/251510</guid>
      <pubDate>Thu, 11 Jan 2024 16:44:37 GMT</pubDate>
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      <![CDATA[ Find out what experts from across Dassault Systèmes’ industries predict is in store for 2024. 
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      <![CDATA[ 
2023 was a year of unprecedented challenges and innovations. It was a year when manufacturers and public sector concerns embraced digitalization to become more agile, revolutionary medtech marked the end of a global pandemic and sustainability efforts met new milestones. Breaking through fluctuating markets and uncertainties opened new avenues for growth.&nbsp;



As we move into 2024, what are your biggest questions about the coming year? What’s the latest technology? What’s the next big news to look out for? And most importantly, how can we prepare for all the challenges and opportunities that are coming along?



To answer these questions and offer a few 2024 predictions, we invited experts from across Dassault Systèmes’ industries to answer the question: “What’s one thing you’re most excited about for your industry in 2024?”&nbsp;



Aerospace and Defense: Innovating toward space sustainability&nbsp;



For the space industry, there will be no shortage of exciting innovation from space in 2024. I’m personally interested in the innovation toward space sustainability and seeing this market accelerate, but I think you have to highlight the excitement around heavy launch (Starship and SLS) and lunar activities in 2024 – progress towards our return to the moon, Japan’s moon lander, and NASAs video release last month of their commercial lunar marketplace that will streamline access to the moon. So many layers of these programs are empowered by Dassault Systèmes … and there is so much more to come. – Industry Business Value Consultant Expert Jason Roberson&nbsp;



Business Services: Helping rail become more efficient



The one thing I am most excited about in 2024 is how we can make a difference in the NetZero and sustainability drive. Before joining Dassault Systèmes I knew virtually nothing about rail (except that you can travel as a passenger and that it’s not always the most reliable form of transport). Learning about rail over the last 7 years has been incredibly exciting and insightful &#8211; the realization that managing rail operations is actually very complex. It’s not just about a train going from A to B. There is so much to take into account. Ensuring the right crew, at the right time with the right qualifications, linked to the right fleet that are available (and not out of service for maintenance), ensuring track availability to move freight and passenger trains (some share the same tracks). Then you have to look at short, mid and longer term planning for above, below and off network services.



Through our integrated approach to operations’ planning and scheduling we are helping rail to become more efficient, more cost effective, more reliable with a better service quality for both freight and passenger rail across the globe. This will make rail more attractive to companies (only 58% of freight trains are on time) and to passengers to help drive that modal shift. &#8212; Global Vice President &#8211; Business Services Industry Taherah Kuhl



Consumer Packaged Goods &amp; Retail: More environmentally conscious innovation&nbsp;



CPG manufacturers are truly aligning their values with those of environmentally conscious consumers by working to reduce single-use plastic waste and minimizing eco-footprints. As a result, the industry is experiencing a dramatic increase in the area of innovative packaging solutions. Companies are exploring new, compostable materials, light-weighted designs and reusable packaging models. – &nbsp;Industry Business Value Consultant Director Laurent Smadja&nbsp;



Home &amp; Lifestyle: Supporting a circular economy&nbsp;



The Home &amp; Lifestyle industry is embracing the concept of modular design in order to support the circular economy. Designing products like e-bikes, furniture and sporting goods in such a way that they can be subdivided into smaller, interchangeable parts called modules. This adds flexibility, scalability and reusability as independent modules, which can be added or replaced without affecting the rest of the system. This reduces waste while enabling consumers the personalization they crave.&nbsp; – Industry Value Expert Senior Manager Annabelle Grauer&nbsp;&nbsp;











Industrial Equipment: Integrating agility and sustainability&nbsp;



In the dynamic landscape of the years 2023-2025, the Industrial Equipment industry confronts pivotal challenges centered around sustainability and agility. The seamless orchestration of quoting, manufacturing, delivering, installing, maintaining and retrofitting demands a paradigm shift. Embracing equipment modularity within systemic frameworks is imperative, fostering versatility and thereby enhancing agility. The cornerstone of sustainability lies in the commitment to “Design for Retrofit-ability,” a transformative approach that echoes our dedication to responsible practices.



Amidst these challenges lies a compelling opportunity: the exploration of innovative business models such as Equipment-as-a-Service and Pay Per Part production. The key lies in trust – the more our valued stakeholders embrace our recent offering for Field Operations, the more they unlock the potential of our unique differentiator. Our commitment spans the entire lifecycle, from engineering to manufacturing to service, creating virtual twins that are both generic during new product development and highly specific when applied to an instantiated equipment number in the operational field.



In this era of transformation, our vision is not merely to meet industry standards but to redefine them. By seamlessly integrating sustainability and agility into every facet of our operations, we aim to not only overcome challenges but to emerge as trailblazers, setting new benchmarks for the Industrial Equipment industry. – Industry Vice President Philippe Bartissol



Infrastructure, Energy &amp; Materials: Achieving a carbon-neutral future&nbsp;



Leading the way to decarbonization and energy transition requires a collaborative effort among investors, corporate players and policymakers. As we witness an accelerated shift from fossil fuels towards a carbon-neutral economy, the challenge lies in transforming “brown” assets into “green” ones. This encompasses replacing traditional energy sources with clean alternatives, building new infrastructure for electric transport and scaling innovative technologies, like green hydrogen and carbon capture.&nbsp;



The path ahead is fraught with technical risks, high investment costs and aggressive timelines mandated by regulators and company commitments. How the industry adapts to climate change will significantly shape our cities, the materials we use and the resilience of our infrastructures. The Infrastructure, Energy and Materials sectors are pivotal in achieving a sustainable, carbon-neutral future. – Industry Vice President Corinne Bulota&nbsp;



Life Sciences &amp; Healthcare: Improving quality of life for patients and their families&nbsp;



In 2023, the area of long-term chronic diseases had several breakthroughs that improve overall quality of life and help to address the long-term cost of care for chronic diseases, such as Diabetes, Alzheimer’s and Sickle Cell.&nbsp;



Novo Nordisk’s Ozempic and Wegovy came to market with a great deal of excitement in managing diabetes and weight loss and were followed by [Eli] Lilly’s Zepbound. Two new monoclonal antibody treatments were approved for early Alzheimer’s with the ability to slow cognitive and functional decline. Vertex and Crispr Therapeutics launched CASGEVY, a game changing gene therapy that uses CRISPR/Cas9 to edit the DNA of patients with sickle cell to fix the flawed red blood cells – effectively curing the patient by correcting their genes.&nbsp;



By addressing long-term chronic diseases, we improve the quality of life for patients and family members as well as the overall cost of healthcare for society – something to be excited about for 2024. &#8212; Industry Business Value Consultant Director John McCarthy



Marine &amp; Offshore: Transitioning to sustainability&nbsp;&nbsp;



The Marine industry is currently facing a major transition to sustainability. Commercial shipping represents nearly 3% of global emissions and the International Maritime Organization (IMO) has set a revised greenhouse gas (GHG) strategy to reach net-zero GHG emissions by around 2050. To support this ambitious transformation, the industry needs to quickly rethink the way they design, build, operate and maintain vessels, which means successfully developing, building and integrating a wide range of innovative and complex technologies. – Industry Business Value Consultant Specialist Jean Benoit Bensoussan



So those are the 2024 predictions. And of this we can be sure: As various industries adapt to changing landscapes and work toward ever more mindful goals, the new year will mark a continuation of collective efforts towards a sustainable future.&nbsp;



Stay tuned and join us for a front row seat to the future.



READ MORE 




2023 Year in Review: Bloggers choice 



2023 Year in Review: 10 insights from the Corporate Blog team 



2023 Year in Review: A year in the 3DEXPERIENCE Lab

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