2010 (PDF, 1.1 MB) - Schufa

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10 Advantages we offer Case study: What if …? Kreissparkasse Esslingen-Nürtingen calculated the value added from its cooperation with SCHUFA. Our ‘credit report’ and ‘monitoring report’ products were put to the test in terms of lending and creditworthiness assessments within new and existing customer business. What if there were no SCHUFA? The Esslingen-Nürtingen regional savings bank (Kreissparkasse) addressed this question in detail. After migrating to Finanz Informatik’s (the data centre for German savings banks) OSPlus, the regional savings bank wanted to investigate the added value of SCHUFA’s ‘credit report’ and ‘monitoring report’ products. The results up front: each euro invested in SCHUFA services saved approx. € 13 in company spending. Reducing process costs with SCHUFA To take into account the various scenarios, the first step was to determine the process costs if the SCHUFA credit report were not included. This would have delayed the final decision on a loan by seven to ten days including receiving the bank report by post. The immediate consequence: customers become less accessible for further consultation and financial discussions as a result of the delayed loan decision. The cross-selling business would also be significantly impeded. Furthermore, the situation Initial situation: Management and optimisation of business processes at the Esslingen-Nürtingen regional savings bank Goal: Increased revenue for products offered to new and existing customers Solution: Determination of information and reporting costs. Simulation of the costs that result when SCHUFA’s ‘credit reports’ and ‘monitoring reports’ are not involved Result: Cooperation with SCHUFA contributes to the reduction of risk as well as to time and cost savings. One euro spent on SCHUFA results in savings of € 13 at the regional savings bank would result in additional personnel costs: if 60 minutes are allowed for the manual processing of each loan application, 2,000 loan applications per year would result in additional annual personnel costs of € 50,000. Also, if it is assumed that ten per cent of the customers would go to a competitor due to the long waiting periods, internal calculations at the regional savings bank show that this would burden revenue by an additional € 83,000 per year. In addition, it could be expected that interest rates would be considerably affected and would increase as a result of a deficit of information and increased risk. If an estimated five per cent of customers then chose another bank, this would result in an additional annual earnings loss of € 40,000. Finally, the regional savings bank simulated the potential loss of customers for instalment loans and the closing of savings accounts. The scenarios demonstrate: SCHUFA credit reports reduce manual work to a minimum. At 60 minutes per loan application, the time savings alone result in cost reductions of at least € 50,000 annually. Added to this is the significant value added from optimised customer service with quick response times and more time for consultation. Customer service in focus In addition to the SCHUFA credit report, SCHUFA monitoring reports also play an important role in loan decisions. The monitoring report service at SCHUFA provides contractual partners with automatically updated information about their clients so that they can immediately react to any potential change in creditworthiness. SCHUFA monitoring reports are based on information provided by our contractual partners and information from public registers or official notifications. Thanks to SCHUFA monitoring reports and their storage in the OSP-integrated partner database, the regional savings bank is kept up to date and is thus flexible and independent. In addition, address changes reported by SCHUFA give information as to the whereabouts of customers with unknown addresses. Without SCHUFA’s monitoring reports, financial advisors would have to take on the time-consuming task of going through
debtor listings. Recovering the information in public registries – once or twice a month – would result in about an additional day’s work. Added to this would then be the setting up and maintenance of an in-house system for the monitoring of accounts and payment transactions, which would mean several months’ work for the project team and generate costs of approximately € 50,000 per year. And since updates to public registries are, for the most part, not made when the customer requests a loan, customers themselves would have to regularly make updates. Frequent requests for information from financial advisors would therefore be more than just time-consuming; they would work against ideal customer service. Making good use of SCHUFA information In order to take advantage of the benefits of SCHUFA credit reports and SCHUFA monitoring reports, the product has to be interpreted and put to use correctly. The regional savings bank in Esslingen-Nürtingen achieved seamless integration of the processes. To this end, the optimal integration of SCHUFA services in Finanz Informatik’s OSPlus provided an excellent foundation. The results: the inclusion of SCHUFA information reduces defaults at the regional savings bank in Esslingen-Nürtingen to a minimum of 0.26 per cent. Especially when it comes to new customers, speed, in addition to high quality information, is the deciding factor in the loan application process. Manual processing times are cut and Advantages we offer 11 ‘The customer benefits from fair conditions. The integration of information from SCHUFA reduces defaults at the regional savings bank in Esslingen-Nürtingen to a minimum of 0.26 per cent. Financial advisors can rely on SCHUFA when making loan decisions and quickly provide customers with a positive answer. Customers at the regional savings bank also benefit from fair and reasonable conditions and do not need to provide additional proof of creditworthiness.’ Frank Dierolf, Deputy Member of the Executive Board and Head of the Private Customer division at the Kreissparkasse Esslingen-Nürtingen (Esslingen-Nürtingen regional savings bank) a reliable, risk-adjusted formulation of conditions is made possible. Savings banks benefit from the optimal setup and conditions provided by the Finanz Informatik data centre. The management of the business process is optimised and cost advantages are thus achieved, resulting in increased revenue as well as an optimised product portfolio for new and existing customers.
Page 1: Annual Report 2010 We build confide
Page 4 and 5: 2 Forward from the Executive Board
Page 6 and 7: 4 Advantages we offer Advantages we
Page 8 and 9: 6 Advantages we offer Vital financi
Page 10 and 11: 8 Advantages we offer Without the S
Page 14 and 15: 12 Advantages we offer New service
Page 16 and 17: 14 Institution reports
Page 18 and 19: 16 Institution reports Prof Dr Winf
Page 20 and 21: 18 Institution reports The Consumer
Page 22 and 23: 20 Institution reports Topics and n
Page 24 and 25: 22 Facts and figures Facts and figu
Page 26 and 27: 24 Facts and figures Partners, subs
Page 28 and 29: 26 Facts and figures The year 2010
Page 30 and 31: 28 We build confidence
Page 32: 30 We build confidence Imprint SCHU

2010 (PDF, 1.1 MB) - Schufa

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