Schwäbisch Hall modernises credit software with Open Credit 4.0
22. September 2020
Meerbusch, 22 September 2020. Software specialist Collenda is supporting the building society Schwäbisch Hall AG with the modernisation of its IT systems. Schwäbisch Hall intends to increase its process mapping using standard software. In the future, contracts with impaired performance will be processed using the Collenda Open Credit 4.0 Collections & Recovery and the Loan Management solution.
Bad loans and defaults are a serious challenge for financial institutions, particularly in times of crisis. In the future, Schwäbisch Hall AG will rely on the expertise of Collenda with its leading technological solutions in the area of credit management.
The new solution suite will help Schwäbisch Hall to restructure its loans. The modules within the solution can be easily integrated into the existing IT landscape using open interfaces. Schwäbisch Hall will benefit from optimised deep integration into the new SAP architecture and the application will also enable sub-ledger functionalities to be implemented. The version of the Open Credit 4.0 solution suite to be used offers a high degree of automation in credit management and also provides significant efficiency advantages when processing non-performing loans.
Michael Frickinger, Head of IT Finance at Schwäbisch Hall, emphasises:
The cooperation with Collenda will help us to optimise our IT landscape. The new solutions will provide us with a much higher degree of automation, which will reduce the pressure on our team of employees in the long term. Our customers can also look forward to faster processes and an improved user experience.”
Collenda CEO Hartmut Wagner is keen to stress that: “We are very pleased to be able to support Schwäbisch Hall on their path of digital transformation. Collenda has in-depth expertise and experience in the field of large building societies and made a good impression with its extensive coverage of the professional requirements. With the help of the new solution suite, Schwäbisch Hall will significantly improve its efficiency, effectiveness and user-friendliness. We are very much looking forward to our collaboration.”
About Schwäbisch Hall
Schwäbisch Hall is the largest building society in Germany with 7.3 million customers and 8.5 million contracts. In 2017, the company concluded 557,508 home loan and savings contracts with a volume of EUR 28 billion. The mortgage business amounted to EUR 14.6 billion. Since the currency reform in 1948, the market leader has co-financed around 9 million homes, renovations and modernisations. Schwäbisch Hall also operates successfully abroad with four affiliated companies. The company has been committed to supporting its employees and the community for many years.
As a building society and service provider for the private building finance business of around 970 cooperative banks in Germany, Schwäbisch Hall has been firmly anchored in the cooperative banking sector since its foundation in 1931. Its shareholders are the cooperative central bank DZ Bank (96.9%), Frankfurt am Main and around 500 cooperative institutions.