New automotive bank launches with afb Credit Management Solution
afb wins Bank11 as a customer
Munich, 01.02.2011 - afb Application Services AG develops and operates the POS solution "Victor" for the newly founded Autobank Bank11. It covers the complete sales and purchase financing of new and used vehicles in the automotive trade and is based on the afb Credit Management Solution.
"Bank11 stands for affordable, personal, dealer-oriented, competent and reliable," comments Andreas Finkenberg, CEO: "Victor will support us with its highly automated business processes in delivering on this value proposition." Bank11 was launched in January 2011 and aims to become one of the top 3 manufacturer-independent automotive banks in Germany over the next five years.
"We are delighted that Bank11 is another newly founded bank that has chosen afb," comments afb CEO Jan Ph. Wieners. The introduction of the solution was unproblematic because the lean joint project team acted efficiently and did not have to take any legacy issues into account. In addition, Bank11 remained close to the afb standard, 90 percent of the individual customer requirements could be met through simple parameterization. Wieners: "afb operates the Victor POS solution and continues to develop it for Bank11. This allows the automotive bank to concentrate on its core competencies right from the start."
"With the afb solution, we have chosen a proven software and tailored it to the needs of Bank11," explains Dr Martin Straaten, Managing Director responsible for IT, processes and organization: "With Victor, Bank11 wants to offer high processing speed for merchant inquiries, constant accessibility, high availability and reliable responses."
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 Bank11, BANK-now (Credit Suisse, CH), cashgate (CH), FFS Bank, GE Money Bank, General Motors Accep-tance Corporation (D, A, CH, PL), Honda Bank and Santander Consumer Bank S.A. (Poland).
Profile Bank11 für Privatkunden und Handel GmbH
In January 2011, Bank11, the new automotive bank for cross-brand purchase and sales financing of new and used cars in Germany, was launched. Bank11 provides simple and favorably priced financing products for customers as well as solid liquidity solutions for car dealers.
