Siemen’s Mendix builds Rabobank’s new banking portal RaboDirect
Mendix, the low-code software platform bought by European manufacturer Siemens in 2018, has announced its project with Netherlands-based Rabobank to create its new online banking portal called ‘RaboDirect’.
Predominantly designed for the bank’s Belgian and German customers to send money, the portal will also be used by employees to process back-office transactions.
The low-code developer says its technology has reduced IT costs for the bank, which turns over more than €12 billion, by 50%.
“It’s a significant milestone that the division’s IT department is able to work in short sprints in the application development process,” says vice president of product management at Mendix Hans de Visser.
“It was rewarding to see developers and business professionals working very closely together with the Mendix platform to create satisfying products for Rabobank’s customers in Germany and Belgium,” he adds.
Mendix’s low-code platform has essentially rebuilt the bank’s online channel, giving its IT division the ability to carry out weekly release cycles.
In 2017, Rabobank spent three months building a 3D model of its IT infrastructure – one in the flesh and one in virtual reality software – in a bid to clearly identify where the weak links were in the chain.
“It literally allows you to look into the future,” executive director of the Banking Industry Architecture Network (BIAN) Hans Tesselaar said about Rabobank’s model at the time, noting that this model was the “first time an organisation [had] invested in visualising its own IT landscape in this way”.
Whether it still uses this model or not, the bank’s latest improvements to its IT infrastructure with low-code gives it “a competitive advantage”, because it allows the bank to “prioritise customer attraction and retention with new online capabilities for its products” like it hasn’t been able to before, says Mendix’s customer success director Bram Voogel.