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Successful introduction of the afb Credit Management Solution for TARGOBANK AUTOBANK

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Munich, 12 March 2015 - afb Application Services AG (afb), a leading European full-service provider for the optimisation of financing processes of banks and leasing companies, announces the successful launch of the afb Credit Management Solution (afb-CMS) at TARGOBANK AG & Co. KGaA as part of its entry into the business area of vehicle wholesale and retail finance.

For TARGOBANK, a leading German retail bank and subsidiary of the French cooperative banking group Crédit Mutuel, entering into vehicle wholesale and retail finance and the associated launch of TARGOBANK AUTOBANK is an important component of its growth strategy. To this end, from both a business as well as from a technological perspective TARGOBANK needs a partner with a strong focus on innovation, with extensive experience in the vehicle financing business and in implementation projects, particularly regarding the seamless integration of systems in heterogeneous IT landscapes.

The end-to-end, web-based, modular afb Credit Management Solution (afb-CMS) reflects the processes of wholesale and retail financing from the application process up to management through automated business transactions. Thus TARGOBANK AUTOBANK will manage both financing business and additive insurances to private and commercial customers through standardised processes in a multi-channel capable system. In addition to catalogue data and statistics functionalities, interfaces to the collateral archive included in partner and collateral management are part of the afb  systemscope. Furthermore, TARGOBANK AUTOBANK utilises extensive support and data maintenance services from afb.

The modular design based on standardised components allows for optimum adaptation to TARGOBANK's individual requirements. After successfully completing the pilot phase, the long-term nature of this partnership ensures that TARGOBANK AUTOBANK benefits from a high degree of automation by the afb-CMS and increased efficiency. The bank is thus well prepared for the system rollout.

Markus Haering, Director of TARGOBANK AUTOBANK: “Entering vehicle wholesale and retail finance is an important element of our growth strategy. For this we need a powerful, reliable system that can reflect the complexity of our market entry. With afb as a competent partner on our side, we feel well prepared for the future.”

"We are pleased that we could actively support TARGOBANK on their way to becoming an automotive bank and we will continue to create ideal conditions so that the bank can score as an automotive bank with a convincing overall package,” explains Philipp Oberleitner, Manager Sales at afb.

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.

To find out more, please visit www.afb.de

Inquiries
afb Application Services AG
Sylvia Hengstler
Senior Marketing
Tel: +49 (89)78000-353
presse@afb.de

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