Vereinsbank Victoria Bausparkasse AG (VVB), a joint subsidiary of HVB Group and ERGO insurance group, has entrusted BRAIN FORCE SOFTWARE GmbH with the set-up of a new computation modul for the home purchase savings business. This will be used for all sales channels throughout the company in online and offline operation to perform home purchase savings calculations. With this project, BRAIN FORCE will be the exclusive software partner for computation modul and thereby a strategic partner of VVB. The new home purchase savings computation modul will be used for HVB and ERGO group sales, serving over 30,000 workplaces.
Currently VVB uses three different computation moduls from various providers (including BRAIN FORCE), particularly for simulations of their core product, i.e., home purchase savings, but also to display related topics such as interim financing, preliminary financing or modernisation loans. Due to the large number of sales partners with different requirements on software support, quotation components with various computation moduls have been established over time, which leads to increased costs and a lack of flexibility for planned extensions.
BRAIN FORCE cuts cost
Therefore the home savings bank has now asked the IT provider to isolate the BRAIN FORCE computation modul and to make it available for various applications. The new core will be used offline and online as a web service in a .net and a J2EE environment under Unix. The new BRAIN FORCE computation modul is thereby suitable for all functionalities which have in the past been provided by the modules used by VVB. This includes computation of VVB rates, calculation of existing contracts and new contracts, changes of rates, calculation of effective interest rates and total effective interest rates as well as various financing options. What is more, a test tool will be provided to support time measurement and large test series and an independent administration surface will be available for the bank to manage their conditions online.
"With this project, we wanted to create a standardised computation modul so as to achieve sustainable cost savings, shorter throughput times, a reduction of specific risks and the ability to implement planned expansions. In BRAIN FORCE, we have found the right partner who is able to handle this large process with the required speed and security", explains Manfred Kloiber, head of IT and Organisation at VBB.
Petr Vaclavek, BRAIN FORCE MD, adds: "VVB's specification was about a standardisation of the currently used computation moduls for the home purchase savings business. This is understandable and necessary due to the current situation which has grown over time, especially against the background that the quotation systems of all sales partners will probably not be converted to a web-enabled application in the short term. BRAIN FORCE can easily support both technologies, i.e., .net and J2EE, with one computation modul and distribute the terms and conditions using existing tools. Therefore we should go for this change now."
About Vereinsbank Victoria Bauspar AG:
Vereinsbank Victoria Bauspar AG is the home savings bank of HypoVereinsbank AG and ERGO insurance group. It specialises in construction financing and offers in addition to two advanced flexible rates attractive anticipated loans. They focus on customer consulting in terms of energy-saving modernisation of buildings and environmental protection issues. As part of their environment management, VVB sponsors the competition "Energiesparmeister gesucht" (Looking for the energy saving champion) which is organised by ZDF and Co2Online.