Annual Report 2016

Peter Freyer and Heiko Lenz

Digital services for small and medium-sized enterprises – with VR BusinessOnline

SMEs have also long since been drawn into the process of digitization. Besides investing in the digitization of their own processes, SMEs increasingly expect financial institutions to offer digital solutions for processing banking transactions. This has been confirmed by current studies. Businesses increasingly use the internet to seek out specific financing solutions.

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Peter Freyer and Heiko Lenz

DZ BANK is supporting digital transformation by automating business processes between the cooperative banks and SME customers across all customer channels with the help of an innovative tool and relevant data. “VR BusinessOnline is an application that supports sales in the Volksbanken Raiffeisenbanken, helping these banks to grow by acquiring new customers and expanding existing customer relationships. In this way, the cooperative banks are making advances in the digitization of corporate banking,” explains Peter Freyer, who is leading the VR BusinessOnline project at DZ BANK jointly with Heiko Lenz.

1,000 inquiries with a value of €230 million have been received and processed since the launch of VR BusinessOnline.
Searching for and inquiring about financing and investment products using seamlessly integrated systems

VR BusinessOnline provides corporate customers with simple, fast access to products and services offered by the Volksbanken Raiffeisenbanken cooperative financial network. The online tool presents product information and also allows users to inquire about loans, leasing offers, overnight money, and fixed term deposits. An online inquiry process then forwards the user to the relevant cooperative bank. Subsequently, the bank can use the online system to respond to the customer’s inquiry by sending a specific financing or investment proposal.

Since the launch of VR BusinessOnline, the Volksbanken Raiffeisenbanken have received and processed around 1,250 inquiries with a total value of approximately €230 million from SMEs using the seamlessly integrated process. Most of the inquiries have related to leasing offers (44 percent) and loans (43 percent).

“With VR BusinessOnline, the cooperative banks can meet the current requirements of their customers, while avoiding small, detailed routine tasks. To date, no other major bank has offered a similar service in this structured form,” explains Heiko Lenz.

“To date, no other major bank has offered a similar service in this structured form.”

Heiko Lenz

VR BusinessOnline is being constantly expanded. For example, user banks can now review and process inquiries from their customers with the help of VR BusinessOnline. In addition, products from Union Investment and R+V Versicherung have been integrated into the system since May 2016. There are plans to include further new products and services from various network partners. The next significant milestone is a marketing construction kit with templates for online marketing campaigns, which DZ BANK will make available to the cooperative banks that use the tool.