E.B.I.F.: All-round service for credit processes with the afb Credit Management Solution

Munich, 19.09.2006 - afb Application Services AG will be presenting a new solution for inventory management at this year's Frankfurt E.B.I.F. from November 14 to 16. With this extension of the afb Credit Management Solution financial service providers organize their leasing and purchase financing contracts. In Hall 5.1 at Stand C57, visitors can also find out about a cost-efficient service: afb now handles the processing of credit and leasing processes in the Business Process Outsourcing (BPO).
The Munich-based company's BPO services include checking and scanning documents as well as the associated updates to the credit software. "afb has never been just a software supplier, but has been advising institutions in the area of credit processes for many years," comments CEO Jan Ph. Wieners on the new direction: "We therefore see Business Process Outsourcing as a logical extension of our existing business."
 

Outsourcing made to measure

The offering has a modular structure and can be adapted to individual customer requirements. For example, automotive banks can outsource only the management of vehicle letters to afb or the entire credit and leasing process from application and processing through to value date and contract management. With one exception: the credit and leasing decision is the core competence of the bank or leasing company. Among other things, the bank defines the criteria on the basis of which the afb Credit Management Solution automatically grants loans. Or its clerks decide manually if, for example, the applicant's details do not match the documents they have submitted.

Customers pay a basic monthly fee for afb's BPO services and a fixed amount for each application processed. "Our flexible billing model results in cost benefits because it is based on the volume of business," says Jan Ph. Wieners.

Portfolio management of contracts

Many financial service providers still manage their contracts manually. This is why afb has integrated an optional portfolio management function into the afb Credit Management Solution. It supports the dunning process and is integrated into the general ledger. Thanks to the high degree of automation, customers benefit from consistent processing of loan transactions throughout the entire life cycle.

Industry meeting E.B.I.F.

afb is now exhibiting at the E.B.I.F. for the eighth time. This is not without reason, as Jan Ph. Wieners confirms: "Last year, we were able to make numerous contacts and generate projects from them." afb is also expecting successful discussions this year, as banks are continuing to invest in the automation of their credit processes. They want to save up to 50 percent in costs, but also serve their customers better through fast, smooth loan processing.

Profile afb Application Services AG

Founded in 1995, afb Application Services AG optimizes complete business processes in the lending area of banks and leasing companies. State-of-the-art IT solutions based on Application Service Providing enable the automation of the entire lending process - from the application to the fully automated credit decision, processing and contract management. Applications from the Munich-based company are now used internationally: Well-known customers from the financial services sector generate significant parts of their turnover with afb solutions. Among the best known are cashgate (CH), FFS Bank, GE Money Bank, General Motors Acceptance Corporation (D, A, CH, PL), Honda Bank and Santander Consumer Bank S.A. (Poland).