Annual Report 2017

Consumer finance Flexible system

Even internet-savvy customers don’t always want to communicate with their bank online. That is why TeamBank has intelligently integrated its online and offline channels.

Many bank customers appreciate the new possibilities opened up by digitization: Using a computer or smartphone, they can now call up data and carry out financial transactions wherever they are, whenever they want. But most customers do not want to only communicate with their bank electronically. Particularly before making an important decision, they want to draw on the expertise of a customer advisor during a face-to-face meeting.

TeamBank, the consumer finance expert in the cooperative financial network, has systematically updated its products and services in line with changing customer requirements over the past few years. The bank has created an ecosystem for liquidity management in which the different communication and sales channels – bank branches, computers, and mobile devices – are integrated with each other. The aim is to give customers easy access to liquidity anytime and anywhere.

TeamBank’s ecosystem incorporates a wide range of channels. For example, customers can obtain advice about easyCredit consumer finance while in a Volksbanken Raiffeisenbanken branch. If, after talking to the bank, customers decide they have a specific liquidity requirement, they can activate the loan themselves in the easyCredit customer portal and the desired amount will be transferred to their account without the need for another credit check.

Another element of the ecosystem at TeamBank is the ‘ratenkauf by easyCredit’ product, the first seamless cross-media installment purchase solution that merchants can offer both in their e-commerce and in their brick-and-mortar businesses. After making a purchase or placing an order, consumers can adjust the installment purchase arrangements using the easyCredit app or the customer portal. For example, they can suspend payments or repay outstanding installments ahead of schedule.

The linking of online and offline channels not only offers a number of advantages for bank customers but also benefits the Volksbanken Raiffeisenbanken. They are able to provide the best available advice on consumer finance and installment purchasing to existing customers while also bringing new customers into the cooperative financial network.