One step ahead of the market – the private banking department of Volksbank Odenwald (www.voba-premium.de) is using the smart munio 7.0 portfolio management solution from software provider DSER
Görlitz, 06 February 2017. Financial planning is life planning – this is the credo of the private banking department of Volksbank Odenwald, a subsidiary of Vereinigte Volksbank Raiffeisenbank eG. The team of experts at the private banking department consists of experienced certified financial planners who provide each of their customers with state-of-the-art, professional consulting. They are aided by the latest software technology from software developer DSER – a leading innovator in the area of digital asset management.
New customers, old problems? It is not sustainable to hope that you can maintain the current conditions while only needing to incorporate one or two good ideas. The mechanisms of e-commerce are making their way into banking. Predicting the state of the financial world in 2030, it would be reasonable to expect that financial advisors will be operating in a completely different customer environment. Having grown up with the internet, future customers will have completely different requirements for types of communication as well as information processing and time-to-market.
Digitisation as an opportunity
The private banking department of Volksbank Odenwald already sees digitisation as an opportunity. One objective is to move closer to the customer using innovative technologies and by assisting them actively in the digital world. Another is to gain more time for monitoring of markets and individual customer consultation. After a brief test phase, the bank therefore opted for munio 7.0 a few years ago.
“Today’s customers place the most value on our management services”, explains Jörg Höbel, Head of Private Banking. “munio 7.0 frees us from many time-consuming processes and enables us to focus on our core competences: high-quality and individualised customer consulting that enables them to accumulate and develop their financial assets.”
The certified financial planners of the private banking department at Volksbank Odenwald were especially pleased with automated risk management due to its monitoring and alarm functions, as well as the best possible mixture of securities accounts using risk minimisation. The scientific basis for this function is the “maximum drawdown” risk measure. With over 400 individual securities, consisting of ETFs, various share values and sustainability issues – values combined with ecological considerations – munio 7.0 ensures that you always have quick access to every title and can also reallocate quickly and flexibly.
munio 7.0’s new customer inbox function is also heavily used. Using an app specifically developed for Volksbank Odenwald, the customer can view their own assets, including asset accounts and bank accounts held with third-party banks. They can also share them with consultants in the private banking department of Volksbank Odenwald. This gives the consultants read-only access to all the financial assets of their customers. The bank is then able to provide the customer with daily loss thresholds and reporting securely and MiFID II-compliant. The integrated chat function allows customers and consultants to communicate anywhere and any time. There is also a paperless option where the customer also can choose to receive relevant documents from consulting and asset management digitally.
“The software soon pays for itself when you use the munio 7.0 functions as much as I do.” says Höbel. “The flexibility and scalability of munio 7.0 are the other decisive factors that ensure efficiency and competitive advantage in the future.”
Securities consulting/sales/customer client communication
Software developer DSER knows very well that is it only possible to create state-of-the-art quality software with consistent market and customer orientation. “We see ourselves as our customers’ partners, we always have an eye on the market and we are constantly further developing our solutions based on the latest technologies” says Johann Horch, Founder and CEO of DSER. “The main sales potential for the industry can only be raised through new services and improved consulting. This is why we focus on a hybrid model with munio 7.0: The latest algorithm-based asset recommendations with lots of functions, coupled with human experience – you might call it the digital reinvention of traditional financial consulting” Horch concludes.
Since 2016, DSER has been working together with niiio finance group, making a powerful team. Its goal is to provide a comprehensive fintech ecosystem that leads banks, consultants and private investors together into a digital future. DSER has been successfully providing solutions for the portfolio management market for over ten years. With its sophisticated core product (munio), over 70 active customers currently move 40 billion euros and manage a portfolio volume of around two million accounts.