Honda Bank automates vehicle financing with afb
Credit decisions in just minutesclose
The afb Application Services AG has won a new vehicle financing customer: Honda Bank. The Frankfurt-based bank uses the afb Credit Management Solution to automate the entire credit process - from credit application, decision and checking right up to fixing the value date. It took the IT service provider from Munich just four months to implement the project, from the initial requirements analysis to delivery of the first software version to the customer.
Honda Bank uses the credit management solution to process its automobile and motorcycle financing, relying for this purpose on the built-in configurator. The afb Credit Management Solution also needed to be integrated with the ZEDA contract management system as well as Honda Bank"s own purchase financing systems and data warehouse. afb programmed the necessary interfaces in just a few weeks.
This means that Honda Bank can now combine its sales and purchase financing. At the press of a button, the bank gains an overview of all business relations with a specific dealer - it can offer the dealer conditions commensurate with the quality of the partnership, thus minimising business risks. The completely Web-based solution receives credit applications via Internet, makes a decision within a minute, and then formats the result transparently for brokers.
Accelerate projects using standard processes
"We decided to go with afb," says Hubert W. Benger, director of Honda Bank, "because the solution provides a high degree of automation combined with high system availability and performance." For instance, the tight time frame for implementing the project could only be kept because the afb Credit Management Solution has standardised most of the credit processes as modules. In addition, connections to credit agencies such as Schufa or Creditreform were already included in the scope of delivery. Customisation for the bank in the form of configuring the standard system needed little time.
"Many years of experience have taught us exactly how credit processes for vehicle financing are set up," said afb managing director Jan Ph. Wieners: "Our afb Credit Management Solution grows to meet the demands of banks - in the case of Honda Bank adding a ZEDA interface and motorcycle financing."
afb Application Services AG - a profile
afb Application Services AG, founded in 1995, optimises complete business processes related to banks' and leasing companies' financing activities. Up-to-the-minute IT solutions oriented around the provision of application services allow complete automation of the financing process - from applications to fully automated credit decisions and processing. The Munich-based company's solutions are currently in use around the globe. Prestigious clients from the financial services sector now earn a significant percentage of their revenue through afb applications. Among the best known are cashgate (CH), FFS Bank, GE Money Bank, General Motors Acceptance Corporation (D, A, CH, PL), Honda Bank and the Santander Consumer Bank S.A. (Poland).
Profile of Honda Bank
Honda Bank GmbH in Germany is a full subsidiary of the Honda Group. The bank is part of the financial services division of the Honda Group, supporting Honda sales with financial services for customers and dealers. Honda Financial Services companies are present in five countries and employ over 1,700 employees worldwide. Since its founding in 1998, Honda Bank Germany has continually expanded its range of products, and now offers a large number of different credit models for the purchase of Honda products. Honda Bank is based in Frankfurt am Main with 70 employees and has a branch office in Barcelona. For further information, please visit www.hondabank.de