Annual Report 2002 (pdf, 1319K) - WestLB

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36 DOMESTIC PAYMENTS: AUTOMATION ALMOST COMPLETED � paper-based � electronic 594.2 781.0 1,179.3 1992 1997 2002 | Stefan Esser Global Equity Derivatives Seeking new challenges every day, setting new objectives all the time – that’s something I find quite exciting. But if you do business around the globe, you should not lose your footing, but remain realistic. WestLB has roots and legs at the same time. So it’s firmly rooted in the region and on the move in all the world’s markets – a perfect combination. MYBANK (in millions of transactions) we strengthened our position as the service provider of choice for the savings banks through state-of-the-art user interfaces and improved price systems. By linking up to WestLB’s systems, we will ensure that the savings banks have access to the central clearing systems in Europe. A consistent refinement of our systems will enable WestLB to establish itself as the central interface of the Savings Banks Financial Group in the clearing system of the European Banking Association. The demand for cash management systems has increased further. We stepped up our marketing efforts in this field considerably last year, offering our products to internationally operating and municipal enterprises and as white-labelling solutions for other banks. Card Services: Closer Cooperation with Network Operators Card-based payment systems continued to be an attractive instrument of customer retention last year. We intensified our cooperation with network operators in the development of EC cash terminals, launching an EC cash system together with Lidl GmbH & Co KG. We have meanwhile sold our LTU Eurocard portfolio to Santander Direkt Bank. We were also closely involved in setting up the operating company �-Points, a bonus programme for savings banks products in the Rhineland. Trade Finance Business Integrated Last year we pooled our transaction banking activities and integrated the documentary trade finance business in order to streamline the handling processes and further improve the
The Company People and Markets Financial Report Names and Locations overall quality. The combination of centralised processing and decentralised account management and product distribution will ensure that our corporate clients and partner banks receive the best possible service. In 2002 we once again developed innovative, cross-border sales financing and pressed ahead with the development of web-based solutions, which enabled us to offer our partner banks a complete range of electronic trade finance products and services. Going forward, we will develop web-based solutions in close liaison with the savings banks which will help to optimise processes even further. WPS Bank: Central Securities Service Provider for the Savings Banks WPS WertpapierService Bank AG (WPS Bank) increased the number of securities accounts under its management by 50% to roughly 1.8 million in 2002 and also further enhanced the stability of its settlement systems. As a result, WPS Bank strengthened its position as one of the leading providers of securities services in Germany. In connection with the realignment of business at WestLB AG, WPS Bank was sold at the beginning of this year to the savings banks and giro associations of the Rhineland and Westphalia-Lippe. The most important project in 2002 involved the transfer of 13 major savings banks from the securities system of Sparkassen Informatik GmbH, which was started in the previous year. The WPServe processing system is now used by all the savings banks in North Rhine-Westphalia and Brandenburg. As part of the MAEGASys project, this system will be expanded to include functional elements for institutional investors and will entirely replace the BSP TRADE system for wholesale clients in the near future. Migration projects already started for other savings banks associations (Nord-Verbund) are paving the way for the acquisition of additional customer groups in 2003. Outside the savings banks organisation, where the biggest client is Postbank EasyTrade.AG with a total of 450,000 securities accounts, a further potential client for fund accounts has been acquired for 2003. In seeking to expand the market position further, the migration expertise demonstrated once again in 2002 is likely to be a crucial factor of competition. 37
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XWa Dedication you can count on.
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XWG WestLB AG Herzogstraße 15 4021
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Annual Report 2002 (pdf, 1319K) - WestLB

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