- Strict security and tight system of permissions requirements
- Scalability. TEO wants fast growth to 1M users by the end of 2021
- Flexibility. Implement headless approach
- Workflow. Complex workflows and admin roles to regulate content
- Personalization. Content has to be 100% relevant to users
- From concept phase to launch took less than eight months
- Headless approach
- Capabilities for 60 content contributors with tight system of editorial control
- Personas and user segments implemented in Ibexa DXP
- Penetration tests to monitor system robustness
- Rapid implementation of Ibexa DXP
- 130,000 users after a few months
- Editors from COMECO, bank and e-commerce partners can deliver content securely
- TEO app won maximum 5 stars for security
- Ibexa Recommendation Engine ensures targeted content beyond explicit delivery
Eight Months from Design to Launch of Native iPhone and Android Apps
Banks and other financial institutions are fighting a war on two fronts: they have to fend off the fintechs and protect their digital customer base from the ambitions of tech giants such as Apple, Google and Microsoft which is soon to launch a debit card. This blurring of tech and finance is creating new business models. One of the most innovative is the ‘lifestyle banking’ app launched in January 2020 by German start-up COMECO.
Its TEO app allows the user to platform all his bank and credit card accounts on one system – and initiate transactions from the TEO frontend, bypassing the individual banking apps altogether. The enabler of the COMECO business model is the European PS2D regulation which obliges every financial institution to release its customer interfaces – and TEO can connect to as many as 3,000 in Germany’s highly fragmented banking system.
The app’s financial ecosystem is combined with a marketplace where users‘window shop’ online. The six partnered banks can put their own content on the app; users with accounts from non-participating banks will only see ‘generic’ COMECO content. The attraction for TEO’s partners is that the app brings them close to the customer who can click through to the partners’ own sites and e-shops directly. As TEO reaches critical mass, this content proposition will be a huge incentive for more banks to sign up.
Ibexa ticked all the boxes
Technologically, thanks to Ibexa DXP, COMECO is in a unique position, no single German bank currently has a system running that can publish content in its app and web application at the same time. But COMECO can publish content in two applications simultaneously.
COMECO and its technology partner rocket-media looked at three DXPs in detail and decided to push forward with Ibexa DXP. “Ibexa ticked the big picture boxes,” says Björn Biedermann, COMECO Head of Marketing and Sales, “with a personalization engine built in, and the possibility of extending the system with an eCommerce module if and when you needed it.”
Ibexa’s DXP delivered immediate benefits because through headless delivery and the ability to use traditional website management it delivered content to the complex banking app in less than eight months. The platform is nimble and easy to use, which allows for content contributions from outside sources such as the partnered banks.
From Biedermann's perspective , scalability was crucial. “We are on course for several hundred thousand users by the end of 2020,” he says, “and so far, Ibexa has more than kept pace with our ambitious target.” Workflows and permissions are water-tight, as is the security of the platform, both prime requirements for COMECO.