afb offers product for closing contracts online


Munich, 17. August 2017 – afb Application Services AG (afb), a leading European full-service provider for financial and service providers, manufacturers and vendors enables with the product 'Universal Contract Closing Process' users to digitise all process stages up to the valid closure of a contract.

Nowadays customers of all business sectors and age groups expect contracts to be closed simply, speedily and unproblematically. Hitherto, regulatory and system-related obstacles have stood in the way of complete digitisation. However, these barriers have meanwhile been eliminated by technological developments, court decisions and new regulations.

With its 'Universal Contract Closing Process' product afb offers financial and service providers, manufacturers and vendors innovative functions and business services for all stages of online contract closure: offer, application, financing decision, document processing, activation, disbursement and contract management. Thanks to the product’s service-oriented architecture existing IT landscapes can be simply and rapidly expanded to include innovative functions without altering their codebase. By means of fast integration, business services link up with existing or future ERP systems and are distinguished by short development, rollout and testing cycles.

Examples of the product’s capabilities are the identification of persons with the aid of online ident processes such as video identification, online identification or digital bank account inspection to verify a customer’s financial situation. In contract closure a digital document handling system transfers a large number of manual operations, such as drafting and dispatching the contract, scanning and content checking and extraction, from the back office to the front office. Innovative electronic-signature functions allow digital contract management, letting the customer add their signature online in a way that is legally valid. Thanks to the 'Universal Contract Closing Process' all stakeholders benefit from increasing closure rates, higher process automation as well as reduced processing times and expenses. In addition, the overall process is designed to handle large numbers of offers, requests and contracts.

As Philipp Oberleitner, Sales Manager at afb, explains: 'With our Universal Contract Closing Process we’ve got our finger on the pulse of the times. When we presented the product for the first time at a major business sector event, it already met with a very positive reaction. In order to retain their competitivity, all business enterprises, regardless of size or sector, must further digitise existing business processes as well as optimising customer experience. For many, online contract closure is high up on their list of priorities'.

About afb Application Services AG

Based in Munich, afb Application Services AG has been optimising the financing operation of banks and leasing companies since 1995. A full-service provider, afb offers a customer- and project-specific mix of process, specialist and IT consulting, projects based on the afb Credit Management Solution, application and infrastructure management, business process management and outsourcing. Its innovative solutions enable companies to automate the entire credit process – from quotation to application with fully automated credit decisions and processing, through to contract management. Well-known companies from the financial services sector make use of the solutions offered by afb internationally to generate a significant percentage of their turnover.

To find out more, please visit or follow us on Xing, LinkedIn, Google+, Facebook and Twitter.

afb Application Services AG
Sylvia Hengstler
Senior Marketing
Phone: +49 (89) 78 000-353