Two different core banking systems and a number of internal and external applications under one interface: In a large-scale consolidation project, VZ Depotbank combined all digital banking functions on one platform. Customers can now view all the information and do everything via the financial institution’s mobile banking app.
According to the majority of respondents to our current survey on Challenger banks, VZ Depotbank has done everything right to retain its customers in the long term, while also winning new ones: 70 percent of those surveyed were prepared to try another provider for a more attractive mobile banking solution. But today, mobile banking can hardly be more attractive than what is on offer at VZ Depotbank. As an independent company that belongs to the VZ Group, the bank offers a broad spectrum of asset-related services in Switzerland and Germany via its financial portal. Customers can now access all functions of the portal via a mobile banking app.
User Experience: the be-all and end-all of customer loyalty
In the run-up to the event, the decision-makers at VZ Depotbank asked themselves how the customer experience could be further enhanced. Uniform mobile banking proved to be an indispensable and really the only viable route into the future for customers from Switzerland and Germany. To achieve this, however, it was necessary to reconcile applications from different providers and two different core banking systems. As early as 2016, we started to support the financial institution with various solutions for setting up and expanding digital banking, as well as for consolidating applications.
As a partner, we were also quick to set up a comprehensive and sustainable mobile-only approach. With our secure and flexibly expandable Mobile Application Platform (MAP), the institute is centralising mobile banking, asset management, stock exchange trading and the Web Financial Group’s financial news app. Users can not only access information on the move, but also carry out all transactions. In doing so, they operate a single user interface that looks the same for customers from both countries.
High security standards
In order to provide customers with convenient banking via mobile devices and the desktop, additional authentication procedures were already in place before the introduction of the Mobile Application Platform: In addition to FotoTAN, the push procedure is also now possible, whereby users confirm receipt of a message on their smartphone. This enables customers to authenticate themselves, easily and securely, for online banking login or for the execution of transactions. This process works both for digital banking on a desktop and for mobile banking. For Touch and Face ID, VZ Depotbank uses our security products and thus offers maximum convenience without the risks.
All in all, the financial institution today stands for banking that is fully integrated into the digital lifestyle of its customers. Thanks to the open architecture of the Digital Banking Hub, this will also be the case in the future, as new applications can be integrated at any time.