Allianz Bank Reinvigorates its New Image

Background

One of the leading Banks in Bulgaria, as part of Allianz Bulgaria Holding including Pension fund, Insurance Companies, and Leasing. Asset Size – over 450Mil EUR, Number of branches – 126 locations, 95 branches, 31 offices, number of customers 175 000 (of which 25 000 corporate & 150 000 retail), number of accounts 250 000, Number of Loans 40 000, strong MM operations.

The Challenge

The Allianz Bank Bulgaria made a decision to modernize its business, operations model and processes and to provide contemporary and efficient products and services to its retail and midmarket clients. The bank needed a standardized IT platform and infrastructure in line with Allianz Germany. Change of IT policies, business procedures and risk requirements on group level and local market were a strong decision factor at the time. The old legacy system was unable to integrate in real-time with satellite systems, card management, internet banking, SMS, mobile phone. The whole non-scalable model was unable to handle the increase of the customer base and the demand for products and services. The bank had a very slow time to market of new products – minimum 3 to 6 months. Finally, the Bank chose Sirma Business Consulting for the entire transformation and to help in the management of the execution of Project “ANI” – Allianz New Image.

The Solution

Initially, the Sirma team analyzed the needs, requirements and necessary business volumes as set forth by Allianz Bank and its mother-bank in Germany. Then Sirma organized and executed the process design and internal regulatory compliance consulting. Subsequently, consultation on the appropriate core banking system was effected and the Oracle FLEXCUBE system was chosen. Sirma then implemented and integrated the new core system within the bank complementing it also with Oracle ERP, Oracle OBIEE, Oracle BPM, Oracle DWH. For the more specific requirements of Allianz bank concerning payments automation, card management, and channel integration, Sirma implemented its UBX Suite, namely the Payment Portal, SCards, DIBA. To provide the easily customizable reporting tool, Sirma installed its product RepXpress at the Bank. The project continued with data migration and the subsequent data clearance, ERP system parameterization, set up of the CMS & online authorization system, launch of the customer evaluation system & scoring, set-up of the Workflow management system, launch of the local and international payments system, launch of the online banking and mobile banking system, launch of the notifications and statement generation system, execution of the necessary customization of the Central Bank and regulatory reporting system.

Allianz Bank had now achieved full digital transformation and its “New Image”. The Bank was now set for growth.

Our Mission is to offer our clients innovative banking solutions because we believe that this is the future. This project is part of our Strategy for digitalization, based on a change in the business model and operations in favor of online services. The bank is no longer only in the office. It is in our home, our car, our pocket through our phones.

Rosen Stanimirov – CEO of Allianz Bank Bulgaria

The Result

Six years following the Project finalization: Asset Size – over 1100 Mil EUR (+650 Mil), number of Bank locations 152 (+26), 100 branches (+5), defined 52 offices (+21), Number of customers 275 000 (+100 000), Number of accounts 350 000 (+100 000), Number of Loans 80 000 (+40 000) to the amount of 800 Mil EUR, 35 000 credit cards, strong MM and Treasury operations; A vast range of products and stable customer growth rate, increase in accounts, loans and credit cards from 5% to 25% y/y; A range of new services introduced such as on-line card authorization, Omni banking, what-if-reporting and Analysis, and Predictive reports; Reduction of risk using the customer scoring system interfaced to FlexCube, also reducing the average time for decision making from 2.5 days to 4 hours; Ability to integrate with all electronic channels and process transactions; Ability to provide adequate Finance, Accounting, RISK, External and Internal audit, and compliance information.

For more information

Find out more about Allianz Bank, visit their site.
Sirma Products, Services, and Solutions Used: Business Consulting in Finance, IT Consulting and Integration, Core Banking Oracle FLEXCUBE Implementation