Wirecard Digital Transformation

Digitalization is changing people's everyday lives as well as the economic environment in which companies operate. The digital transformation will describe the evolutionary process by which - in this case - companies adapt to this digital change. In the following Wirecard's Digital Transformation will be described in detail.

Overview

Company name:	Wirecard AG
Logo:
Description:	Wirecard AG is a payment services company and offers solutions for electronic payment transactions and risk management as well as for issuing and accepting credit cards. Wirecard is also the fastest growing technology company in Europe.
Website:	https://www.wirecard.com/
Chief Digital Officer (CDO):	n.a.

Blog:	https://blog.wirecard.com/
LinkedIn:	https://www.linkedin.com/company/wirecard/?originalSubdomain=en
Youtube:	https://www.youtube.com/user/WirecardGroup
Twitter:	https://twitter.com/wirecard?lang=en
Instagram:	https://www.instagram.com/wirecard_global/?hl=en
Crunchbase:	https://www.crunchbase.com/organization/wirecard

Chief Digital Officer (CDO)

Name:

n.a.

LinkedIn:

n.a.

External Digitalization

Digitalization is changing the demands that customers and suppliers, but also the market itself, place on the company. External digitalization is about how the company presents itself to the outside world and how it deals with these new requirements in order to be able to continue to operate successfully in the market.

This is about answering the questions:

How can I design my product range to inspire the customer? (Raise Net Promoter Score)
How can I bring my products to market as quickly as possible? (Go-to-Market strategy)

Digital Unit external

Describes own companies, which deal intensively with the topic digitization and promote this topic. Digital Unit external and Digital Unit internal cannot always be clearly separated from each other.

n.a.

Digital Business Model (Value Proposition)

A business model describes how a company creates value, communicates that value and records it as revenue. Digitalization creates entirely new ways in which a company can create value that can be integrated into existing business models. Value proposition is the core of the business model, as it determines the benefits a company can offer its customers. Existing companies must therefore review their business models (in particular value proposition) and determine whether a new approach created by digitization should be used to increase the benefits for the customer.

More about digital business model can be found here in the glossary: Business Model.

Creation of added value in the field of innovative and digital payment transactions

n.a.

Digital Accelerators

Accelerators are institutions which support companies, e.g. through consulting, training or personnel, so that they can develop as quickly as possible. Normally these are startups that are helped by Accelerators. In this cooperation, a company already established on the market is supported, which faces new challenges or has to grow into the digital transformation.
More about Accelerators can be found here in the glossary: Accelerator.

Name:	Plug and Play
Description:	Plug and Play is an innovation platform that brings together young start-ups with experienced corporations so that both parties can benefit from each other. The Retailtech Hub was originally the accelerator of the MediaMarktSaturn Retail Group, but was then developed into an open platform for retailers. The implementation is carried out with the help of experts from the Plug and Play Accelerator. The Retailtech Hub is now part of the Plug and Play platform and aims to shape the future of retail by bundling and developing innovative approaches and advocates of innovation. Wirecard is a partner of the Retailtech Hub Program alongside other well-known Hadels companies such as Lidl.
Website:	https://www.plugandplaytechcenter.com/retailtech-hub/ https://www.plugandplaytechcenter.com/about/

Digital Incubators

Incubators are facilities that create optimal conditions for a company to develop fully. Incubators are also usually associated with startups. In this context, incubators create optimal conditions for successfully integrating the changes associated with digitization into an existing company.
You can find out more about incubators here in the glossary: Incubator.

n.a.

Digital Startups

Digital startups of the corporate.
More about Startups can be found here in the glossary: Startup.

Name:	Allscore Payment Services
Description:	Wirecard will gradually acquire all shares in the Chinese payment processor Allscore Payment Services. With this step, the company is now also signaling its entry into the Chinese market. With this acquisition, Wirecard intends to further expand its portfolio of services, thus enabling Chinese merchants operating internationally to offer payment services as well as payouts in the local currency.
Website:	n.a.

Digital Hubs

Digital Hubs are outsourced premises of a company in which innovations are dedicated to the topic of digitization. By means of other work processes and unfastened corporate structures, the networking of internal and external expertise is intended to create digital innovations that drive the company forward.
You can find out more about Digital Hub here in the glossary: Digital Hub.

Name:	Wirecard Innovation Labs
Description:	The Wirecard Innovation Lab can also be seen as the “test laboratory” for future payment technologies within the Wirecard Group. It is here that ideas and projects as well as know-how relating to digitization can be promoted.
Website:	https://www.wirecard.com/innovation-labs/

Apps

Apps of the corporate.
More about Apps can be found here in the glossary: App.

Google App Store:	https://play.google.com/store/search?q=wirecard
iTunes:	https://www.apple.com/de/search/wirecard?src=globalnav

Further Apps:

App name:	boon. Pay – Kontaktloses Bezahlen
Description:	This app makes it possible to pay on the go simply via the smartphone or the Smart or Apple Watch contactless.
Google App Store:	https://play.google.com/store/apps/details?id=de.wirecard.boonpayment
iTunes:	https://apps.apple.com/de/app/boon/id1042647367

Internal Digitalization

Refers to the digitization of internal company structures and processes. Here, the digitization of the company's own product and service chain is at the forefront.

This is about answering the questions:

How can I increase my productivity through even more digital processes?
How can I increase my productivity through even more digital processes?
How can I achieve faster results through even more digitalisation in the company?

Digital Unit internal

Describes internal company departments or even a direct subsidiary that deals intensively with the topic of digitization and drives it forward. Digital Unit external and Digital Unit internal cannot always be clearly separated from each other.

n.a.

Digital Strategy

Describes the strategy, i.e. the long-term behavioural plan, of how a company wants to implement digitalization within the company.

Designing future payment transactions through a combination of quality and innovation

The company’s vision is to shape the future of digital payment transactions.

To achieve this, the company relies on quality and innovation.
In addition to the claim that all solutions developed by the company meet high quality standards, the service portfolio is continuously expanded to include forward-looking technologies and individually adaptable services for cashless payment transactions. Existing products are constantly being improved.

Website

https://www.wirecard.com/company/about-us

Digital Governance

Digital Governance ensures that the digital strategy is properly implemented. And - vice versa - governance should serve to support the alignment of the digital architecture. It refers to the management and interaction with employees in connection with the implementation of digitalization in the company.

n.a.

Digital Architecture

Digital Architecture describes the structure of corporate structures and areas that the company uses to implement digitalization in the best possible way.

n.a.

Digital Processes

Digital processes refer to processes that the company uses to implement digitalization. Based on this, it is used for the internal digitalization. Usually they are implemented based on a business process map on different levels (e.g. level 1-5). Processes designed on level 1 are End-to-End (E2E) processes. Business Process Management (BPM) is the methodology to design and manage digital processes.

n.a.

Digital Organization

Type of control of the business units that the company chooses to implement digitalization.

n.a.

Digital Platform

Describes platforms that the company uses for implementation or as part of its digital strategy.

Wirecard

The entire company functions as one large digital financial commerce platform.

Digital Tools

Describes tools (e.g. programs) that the company uses to implement or within the framework of the digital strategy.

n.a.

Posts regarding Wirecard

n.a.

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Wirecard Digital Transformation

Wirecard Digital Transformation