Volksbank Remscheid-Solingen eG | Keeping credit risks under control

Sebastian Reichardt

»InfoZoom allows us to link, filter and analyze even large amounts of complex data with unprecedented speed.«

Sebastian Reichardt,
Authorized Officer and Group Director for Credit
Control/Regulatory Reporting at Volksbank Remscheid-Solingen eG

Volksbank Remscheid-Solingen eG

Volksbank Remscheid-Solingen eG has had a long tradition serving the Bergisches Land region of the German state of Nordrhein-Westphalen. The credit union, which was founded in 1987 following various mergers, offers private and commercial customers personal consultations on an eye-to-eye level. Volksbank Remscheid-Solingen, which employs 270 staff members in 18 branches, has assets totaling 1.5 billion euros.

Analytics that you can
take to the bank

FIDUCIA IT AG Zertifizierung

InfoZoom is regularly reviewed and certified by FIDUCIA IT AG regarding its technical security requirements. German credit unions conduct this certification so that its employees can use third-party software.

Keeping credit risks under control

Volksbank Remscheid-Solingen monitors its loan commitments with a sophisticated early-warning system. The loan processing and control division then evaluates this process with InfoZoom. Thanks to its transparent analyses, users can effectively manage credit risks, identify abnormalities, and ensure high-quality data. 

Flexible data selection

Volksbank Remscheid-Solingen offers its customers security and stability even in turbulent times. In order to secure its solid business operations and overall financial stability, the credit union carefully monitors and manages potential risks, in part, through an early-warning system that helps reduce the risk of loan defaults by detecting problems in a timely manner.

An early-warning system, however, requires highly flexible data management, which the existing banking system could not provide. The report generator could only produce data within a specific context or records with limited links, which then had to be matched manually. Due to the large volume of data, analyzing the data in Excel was not a viable option. The credit union, therefore, needed an IT solution that could support complex data filters in various combinations.

Efficient early-warning system

Partner Dialog, the consultancy which de­ployed the early-warning system, recommended InfoZoom. In 2007, Volksbank Remscheid-Solingen deployed the software due to its powerful filtering features and ability to easily process large quantities of data. The loan control department uses InfoZoom for a variety of tasks:

▸ Compiling early-warning data by linking datasets for individual customers
▸ Filtering early-warning data
▸ Checking data consistency and the plausibility of individual fields in the
proper context
▸ Regular monitoring of internal credit extensions
▸ Comparing large datasets (e.g. interest, commission) with the previous effective date
▸ Running special analyses (e.g. identifying borrowers and average ratings for a given industry)

»Filtering data in InfoZoom is much more comfortable and efficient than in Excel.«

Volksbank Remscheid-Solingen also uses InfoZoom in other departments such as tax and accounting as well as IT and organization. After importing raw data into InfoZoom, IT can link, filter and even export this processed data into Excel files, which authorized employees can access as an e-mail or through the “PF Früh” information system as part of its measures for early risk detection.

Fast analyses

After purchasing the software, users in various departments could immediately begin analyzing their data. A brief introductory workshop helped them get started, and the rest was learning by doing. The credit union has continually optimized how it uses the software for credit financing in combination with the banking system, which has offered more powerful reporting functions over the years. InfoZoom delivers answers to ques­tions that bank21’s standard reports could not produce at all or only with great difficul­ty. Sebastian Reichardt, Group Director for Credit Control and Regulatory Reporting at Volksbank Remscheid-Solingen eG, values InfoZoom for its efficiency and handing:

»InfoZoom is a lean tool that helps us analyze our data faster and easier than we could with our standard banking systems. Filtering data in InfoZoom is much more comfortable and efficient than in Excel.«

Easy formula integration

In the future, Volksbank Remscheid-Solingen plans to save additional pre-defined queries in InfoZoom for routine analytics. Using its built-in formula editor, the credit union also wants to add complex, customized formulas for early risk detection and integrate the findings of these analyses in its portfolio management activities.

Well-founded decisions

InfoZoom provides a flexible data manage­ment tool for various departments at Volksbank Remscheid-Solingen. Sebastian ­Reichardt summarizes the benefits of the tool as such:

»By linking and filtering raw data, we can easily replicate the different requirements from our operating business in InfoZoom. Thanks to its plausibility checks and filter functions, we were also able to improve the quality of our existing data.«

InfoZoom supports the credit union through efficient risk monitoring so that it can recognize credit risks more quickly and make the right decisions in a timely manner.

Overview

Volksbank Remscheid-Solingen eG
Risk management

Requirements

Flexibly selecting data from a large pool as part of an early-warning system

Solutions and benefits

The loan control department in the bank’s loan processing and control division uses InfoZoom to evaluate data from the organization’s banking system. Its powerful filters detect correlations and abnormalities in the data, which helps the organization identify credit risks at an early stage.

Volksbank Remscheid-Solingen eG
Tenter Weg 1–3
D-42897 Remscheid
Phone +49 21 91 6 99 0
Fax +49 21 91 6 99 37 2
www.vobarsg.de

Case study
PDF Download (DE)

Case study
PDF Download (EN)

More about the subject

Next Post Previous Post