What does a bank like Deutsche Kreditbank AG (DKB) have in common with a generous benefactor? Both hand out money – and one of them does it at lightning speed. Admittedly, a benefactor gives it away. DKB does not – but the consumer loan applied for online is likely to land in the account faster than you might expect. As a rule, the entire application process takes just minutes. Not bad when a last-minute holiday needs booking at midnight or a car is waiting at the dealership over the weekend. In a world of Black Fridays, eBay purchases and spontaneous bookings, time is everything. It comes as no surprise that this factor has a massive impact on the consumer lending business – and on the speed at which customers expect to reach their goal.
This is precisely why Germany's second-largest direct bank relies on FINNOFLEET SUBITO GmbH and its Credito software for real-time lending decisions. Nomen est omen, as they say: software from a company called "Immediately" (SUBITO) for the instant lender DKB.
In Tune with Customer Needs
"The demand for consumer credit financing shows no signs of slowing, even in times of economic uncertainty – as evidenced by the consumer credit index published by the German Banking Industry Committee in the summer of 2024. And all of this is unfolding against the backdrop of headcount reductions across the German banking sector," explains Jochen Hartig. As Team Lead Credit, he keeps a close eye on industry developments to ensure that FINNOFLEET's software expertise in the lending space remains firmly in the premium segment.
"We respond to banks' need for a standardised solution – one that we simultaneously develop in close, highly individual collaboration with the client," summarises Doris Eckart-Wendel from the FINNOFLEET Credito team. She likes to use the image of an extended workbench here, because that is precisely how FINNOFLEET SUBITO sees its partnership with DKB. And there is no secret made of it. Close client relationships and the willingness to tackle the banking industry's major challenges as an external solution partner are defining characteristics of all companies within the FINNOFLEET group – and perhaps even a prerequisite for being part of the FINNOFLEET fleet in the first place.
Whatever You Do – Don't Frustrate the End User
An entire team at FINNOFLEET SUBITO is dedicated to the continuous improvement of the lending software, with one clear objective: enabling maximum performance. Jochen Hartig adds: "Our software solution has been live at DKB for nearly ten years and has been continuously developed and tailored to their needs – while at the same time we remain available to the industry as a whole. An innovative bank of DKB's scale must be at the cutting edge if it wants to compete successfully in the market. And in this context, it is the consumer who sets the pace for credit approval."
A key factor, according to Jochen Hartig, is the front-end user interface, which determines end-customer behaviour within seconds: if the user finds the process clear and intuitive – guided through without unnecessary hurdles – they will complete the application without dropping off. If they are frustrated, a comparison portal is just a click away, ready to serve up the next provider.
Almost Like Having Your Own Development Team
The challenges facing the German banking landscape are, however, considerably more wide-ranging. Management consultancy McKinsey predicted some time ago that the industry could be looking at a return on equity of 0% by 2030 if business continues as usual.
One person actively countering this trend is Frank Sommerfeldt, Head of the Private Loans Product Unit at DKB and a webinar speaker within the Banking Club, where he explores how digital transformation and artificial intelligence can help turn the tide. The collaboration with SUBITO on one of the most important products in the retail banking space supports DKB's consistent digitalisation strategy: "SUBITO is for us the ideal combination of high-level lending expertise and the pronounced ability to respond precisely to our needs as a client. The collaboration between the SUBITO team and DKB has worked reliably for years, and together we ensure that we consistently secure our competitive advantage through continuous joint development."