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Raiffeisen Zentralbank Österreich (RZB) launches online investigation self-service based on TLM® Corona

SmartStream Technologies, the Transaction Lifecycle Management specialist, today announced that RZB has upgraded to TLM® Corona to enhance its client offering with a new self-service tool.

RZB, which aims to provide tailor-made solutions and services that meet the needs of each of the various markets it serves, has implemented TLM Corona to extend its integrated reconciliation and investigation capabilities to customers over the internet. Using the TLM® WebConnect thin client solution as a secure browser interface, RZB will enable customers to proactively raise exception cases. This approach is designed to reduce risk and cost for customers across RZB and its 17 subsidiary banks operating in Central and Eastern Europe.

“Clearly if we can reduce the costs in the investigations department, we can deliver a more cost-effective service to our clients,” says Walfried Lemerz, Head of Transaction Services, Infrastructure Department at RZB. “We believe with TLM Corona we have the solution that will enable us to deliver greater self-service elements and efficient, more personal customer service that will differentiate us from other banks.”

The web-based solution will negate the need for data re-entry that is a source of potential errors and risk. RZB customers can enter transaction details via a secure browser, open a query and trigger an investigation case with the click of a mouse. RZB has piloted the online service with two Baltic banks and is aiming for at least 20% of customers – banks, private individuals and corporates – to take up the service.

“We want to create a near-STP process, so that the data goes from TLM Corona to the core bank system to provide an automated response. We’re at the beginning of that vision, but we feel that with TLM Corona we have the foundations in place to make that a reality,” explains Lemerz. “We’ve calculated an ROI within three years by reducing the amount of time our employees spend on investigations. That will enable us to use their time more effectively to perform higher value work.”

Christian Schiebl, Regional Director, Europe, SmartStream Technologies, commented: “Having a long-standing partnership with RZB we are delighted to see that TLM Corona has been and will continue to be a key element in delivering their vision. By using TLM Corona, RZB has already achieved a high success rate in investigations, but is looking to improve that even further through the use of TLM WebConnect.”