Majorel supports Austria’s newest bank with digital account switching service

Consolidating our leading position in the online banking sector, we’re supporting bank99, a subsidiary of Austrian Post, with our end-to-end digital account switching service.

Photo: bank99

Since the bank’s launch on 1^st April 2020, over 10,000 new customers have already switched their accounts. Our solution includes a proprietary technology platform that seamlessly integrates with bank99’s online banking system, together with a team of experts taking care of technical support, back-office processes and order processing.

Bernd Schaller, Head of Partner Products at bank99, said: "For the implementation of the account switching service, we needed a partner we could really trust. Majorel’s many years of experience in customer service and expertise in the banking sector, convinced us they were the right choice. The total package of human skills combined with technology was very important to us".

Our account switching solution allows customers to change their current account via smartphones, tablets and other mobile devices within minutes and automatically transmits the new account details to all of the customer's payment partners. The service also seamlessly integrates with the bank's online platform.

"We were really excited to partner with bank99 from the very beginning - we consider the trust they placed in us to be a great honor. Thanks to our trusted partnership, we were able to get the service up and running in record time despite the tight time frame", said Simon Riedewald, Key Account Manager at Majorel’s banking vertical practice, who is leads this partnership.

bank99 is a subsidiary of Austrian Post, which has provided financial services for almost 140 years. The new bank brings banking and postal services under one roof, both in branch offices and digitally. On 1^st April, bank99 was launched at more than 400 company-operated postal branches, followed by almost 1,400 Post Partners in May.

Thanks to the nationwide network, there are now 1,800 banking offices throughout Austria – with the best opening hours in the industry. And just nine weeks from launch, bank99 already has over 30,000 customers. Majorel’s account switching services has also contributed to this success, said Riedewald: “We currently have a volume of more than 300 account switching processes per day. In the long term, we expect this high volume to level off at around 150”.

Majorel has more than 20 years’ experience of working with banks and financial institutions. Our 40+ clients in the sector include traditional banks, leading direct banks, B2B banks, credit card issuers, as well as fintechs and digital banks.

The account switching service is part of Majorel’s Digital Banking Platform (DBP) and is delivered by our wholly-owned subsidiary Kontowechsel24 who support credit institutions with innovative solutions for the digital transformation of their processes and services.

Kontowechsel24's solution is the market standard in Germany and also been available in Austria, France and Spain since 2016. All processes are certified according to DIN ISO 9001, are audited annually and meet the requirements of the new payment account law for account change assistance.

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