afb Application Services AG extends its Data Service for "just in time" provisionsclose
Munich, 24 February 2016 – afb Application Services AG (afb), a leading European full-service provider for the optimisation of financing business of banks and leasing companies, now offers its Data Service after a technology shift to modern ETL (extract, transform, load) processes on a daily basis.
Modern financial transaction and distribution systems require a comprehensive, up-to-date and consistent data base to guarantee the quality and efficiency of processes. With its Data Service, afb offers a customised and system-optimised data supply. By using this service customers receive up-to-date data on assets, people, banks and accounts including conversion and check routines. This supports the Quality Assurance of financing applications and master data as early as the time of data capture. It enables drop-outs of large-scale automated processes and time-consuming requests to be avoided in later processing.
The technology change also makes an extremely flexible, speedy and, if required, daily update of large data volumes possible. afb's customers benefit from rapid provision cycles. This represents a major advantage particularly in the new vehicle business of automotive banks. At the release date of a vehicle finance and leasing applications are already based on current data and therefore facilitate efficient and problem-free processes. The Data Service refines, processes, updates and prepares the data held by afb before it is directly loaded into customers´ systems. Thanks to modern ETL (extract, transform, load) processes, only data which has changed is read and updated. This leads to an enormous increase in the speed of data provision processes. Customers also benefit from increased stability, availability, reliability and maintainability.
Customers are able to select from the data catalogue e. g. cars, trucks weighing up to 7.49 t, motorbikes, mobile homes and caravans as well as other items requiring finance. With over 170,000 vehicles and more than two million items of equipment, afb offers a comprehensive vehicle data base of all passenger vehicles available in the German market over the last ten years, including standard and optional equipment. The Data Service also supports the creation of customised catalogues or the import of existing catalogues and classifications for other moveable property such as furniture, kitchens, white goods (e. g. household appliances), brown goods (e. g. consumer electronics), information and communication technology (ICT), equipment, machines, medical appliances etc. The quality of data for person and account-related data services is automatically enhanced by validation and automatic amendment at the time of its capture. For example, Data Service also provides up to the minute data for politically exposed persons (PEPs) and sanctions lists.
"We keep our attention firmly on our customers' needs. As a result of our technology update, our customers can configure their data supply frequency to be even more flexible and at the same time benefit from faster data supplies. Combined with the afb Credit Management Solution (afb-CMS) V3, an update takes only a few minutes; in addition, the latest data is prepared in the form requested by the customer and is loaded directly into the customer´s system", explains Silvio Kowalski, afb's Manager of Support and Data Administration.
About afb Application Services AG
Based in Munich, afb Application Services AG has been optimising the financing operation of banks and leasing companies since 1995. A full-service provider, afb offers a customer- and project-specific mix of process, specialist and IT consulting, projects based on the afb Credit Management Solution, application and infrastructure management, business process management and outsourcing. Its innovative solutions enable companies to automate the entire credit process – from quotation to application with fully automated credit decisions and processing, through to contract management. Well-known companies from the financial services sector make use of the solutions offered by afb internationally to generate a significant percentage of their turnover.