Launch of a Sustainable Current Account at UmweltBank
With the support of Fincon Reply, UmweltBank has expanded its product portfolio to include a sustainable current account, thereby positioning itself as a fully comprehensive universal bank with a strong ecological and social focus.
The scenario
From deposit business to a holistic banking relationship
UmweltBank is a pioneer in sustainable banking, combining financial services with ecological and social responsibility. To offer both new and existing clients additional sustainable services, UmweltBank decided to enhance its product portfolio by introducing a green current account. This comprehensive payment account is offered with both debit and credit cards, as well as an optional overdraft facility.
This forms the foundation for future banking products and enables UmweltBank to serve as its customers’ primary banking relationship. With the green current account, UmweltBank empowers its clients to engage in sustainable banking across accounts and payment services.
The Challenge
New processes and regulatory requirements
The current account and card business represented entirely new product areas for UmweltBank. There were no existing reference products or contractual frameworks in place for these services. In addition to developing new bank-specific processes and implementing all technical solutions in line with UmweltBank’s expectations, it was essential to ensure compliance with relevant regulatory requirements.
This included engagement with key stakeholders such as the Bundesbank, BaFin and the associations of the German banking sector.
Fincon Reply was therefore commissioned to conduct a feasibility study and subsequently managed the project through to the full market launch of the current account and associated products.
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Thanks to Fincon Reply's outstanding expertise, deep understanding of the technical landscape and performance-driven support, UmweltBank was able to achieve a significant milestone in its growth strategy.
Philipp Langenbach
Environment Bank AG, Head of Private Customers
The solution
Sustainable product development with digital excellence
Together, UmweltBank and Fincon Reply developed a digital and sustainable customer solution that supports increased market penetration – without compromising the bank’s ecological and social values. The joint product development was based on the combination of technological excellence and a sustainable financial strategy across four key product areas:
The implementation
From feasibility study to successful go-live
Assessment of existing structures and processes, identification of strengths and weaknesses, evaluation of capacity requirements, and development of a business case based on internal targets and market data.
Support with integration into the core banking system agree21 and related third-party applications, utilising technology from Atruvia AG and its subsidiaries.
Development of workflow-based business processes, technical implementation support within agree21, advisory on risk management and internal control systems, structuring of new product processes, execution of risk analyses, and contract negotiations with partners (including DZ Bank, DG Nexolution, Mastercard, EURO Kartensysteme and VR Payment).
Managed via Atlassian Jira with clearly prioritised tasks; Fincon Reply assumed responsibility for several workstreams.
On-site training sessions, videos, handouts, and FAQs; standardised procedures to enable employees to handle routine processes independently.
A two-month “family and friends” pilot phase was followed by full go-live, with a gradual handover to operational teams at UmweltBank. Fincon Reply continued to act in a consulting and quality assurance capacity.
The result
Successful market launch and blueprint for other institutions
Within just ten months, UmweltBank successfully laid the groundwork for further growth and the strategic realignment of its product portfolio. The bank is now able to offer the full range of services of a universal bank and attract new customer segments.
Through this successful implementation, Fincon Reply and UmweltBank also created a blueprint for other institutions seeking to move beyond a narrow focus on deposit business and embrace a broader market approach.
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Since its establishment in 1997, UmweltBank AG has successfully combined sustainability with economic performance. With around 300 employees, the green bank serves approximately 133,000 private and business customers across Germany. Its core competence lies in financing projects related to renewable energy, as well as ecological and socially responsible construction. Whether timber houses, student accommodation or solar parks – the bank has supported nearly 25,000 future-focused projects over the past 25 years. In addition, it offers sustainable savings products, investment services and insurance. With its unwavering commitment to sustainability, UmweltBank contributes to its vision of a liveable future for generations to come.
Fincon Reply is a business and IT consultancy specializing in the financial services industry. Fincon Reply proactively advises banks, the Sparkassen Financial Group, the German Cooperative Financial Group and insurance companies as well as their suppliers on their digital transformation. The company provides on-site support with specialised teams of consultants and developers and delivers turnkey solutions.