Volksbank AG and leading mortgage and private banks in Austria opt for FERNBACH’s lending solution

Vienna & Frankfurt, 25 March 2009 – The Österreichische Volksbanken group, under the leadership of Volksbank AG, one of Austria's largest banking groups, as well as five private banks and four mortgage banks have chosen the FlexFinance® Lending credit solution from FERNBACH-Software. FERNBACH-Software AG has thus been able to win another major group of customers in Austria and to strengthen its base in Vienna.

Under the stewardship of IT service providers, ARZ Allgemeines Rechenzentrum GmbH and FERNBACH-Software, a solution will be created for ARZ clients which covers the entire credit process in private and corporate client credit activities.

FlexFinance® Lending is the leading software solution which efficiently supports lending operations, starting from consumer credit to special financing for companies and optimising back-office procedures. Its high-performance process management functions provide considerable support for banking business models while generating assessable increases in efficiency at an early stage and improving risk structure.

With its open architecture and SOA-compliant components, FlexFinance® Lending is state-of-the-art. Its highly flexible nature means that the banks can deal with the strategic and operational changes in the financial sector quickly and economically. Professional tools for parameterisation and multi-client capability map out the individual specialist requirements as well as organisational structures from the smaller banks to the central institution.

Within the project the complete credit process will be covered from order processing to feedback/charge-off. The range of products covered by FlexFinance® Lending ranges from consumer credit to special financing for companies. With its open architecture, FlexFinance® Lending is best adapted to the demands of the credit market. The application’s flexibility allows it to create organisational structures for both the smaller banks as well the central institution in one process.

Director Dr. Harald Seebacher, Österreichische Volksbanken AG says, “FERNBACH’s technical and methodological experience with lending products and projects for private, retail and corporate banking will provide our employees with the optimum conditions for project success in their business model. Apart from the corresponding references, FERNBACH convinced us with its professionalism and its specialist banking skills in the evaluation process as well as during the feasibility stage.”

Dipl.-Ing. Hans Langer, CEO, ARZ comments, “Owing to the high degree of flexibility that characterises FERNBACH’s FlexFinance® Lending, we were able to integrate our existing system into the new solution and thus make use of all the benefits of an SOA-based architecture. With the modular credit solution, we are more flexible than before and are best equipped for future challenges of our customers.”

"Our process-oriented, specialist and technically resilient software solutions for the credit business strengthen our clients in competition and also support risk management and innovations,“ says Thomas Platt, member of the Management Board at FERNBACH-Software. “We were pleased about the decision by another major banking group to opt for our new FlexFinance® Lending product suite and this shows that we are setting the standard in the Austrian market as well with our software and specialist banking skills."

About FERNBACH:

FERNBACH is a global leader of analytical solutions for the finance industry. Modular software bundles for Multi-GAAP accounting, risk, compliance and loan enable our customers to optimise business processes.

FERNBACH offers a sophisticated component-based solution portfolio which ensures faster time to market and rapid implementation of banking requirements thus mitigating risk and ensuring quality.

Our customers worldwide benefit from our combined expertise to overcome challenges and to provide solutions for future success. FERNBACH innovates to maximise the performance of our clients.

www.fernbach.com

For more details please contact:

FERNBACH-Software S.A.
Emma Connolly (Director of Group Marketing)
1a, Parc d'activité Syrdall
L-5365 Munsbach
LUXEMBOURG

Tel.: + 352 402244-1
Fax: + 352 402244-310

This release was published on openPR.