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The objectives of the divisionalisation project were to improve cooperation within the Group and to unlock Group-wide benefits resulting from more efficient cooperation and control. As part of the project, customer segmentation in retail and corporate banking was adjusted. This involved the transfer of more than 16,000 customers with some 270,000 transactions as well as 260 account managers, together with the establishment of an adequate (central and decentralised) sales structure.
The FINE project was launched to create an end-to-end process for financings with a high degree of automation and standardisation using web technology, workflow control and document management. This will enable the bank to further enhance efficiency, improve quality and increase adaptability to changes in the operating environment.
In June 2006, the CREDO project was started as part of one of the Group-wide initiatives to redesign the credit process. The objective is to redesign the end-to-end credit process in retail banking and to adapt monitoring functions (credit risk control) in the various financing segments. Key areas include closing process gaps, integrating a continuous improvement process, adjusting guidelines, policies and scorecards as well as improving customer data quality and the early warning system.
The objective of the MiFID (Markets in Financial Instruments Directive) project is to implement the EU directive for the harmonisation of financial markets in the European Union’s internal market. The directive defines the legal framework for providing financial services with a view to enhancing transparency for customers and creating a level playing field for banks and exchanges in securities trading. The initial design stage was completed in 2006 with the identification of process and system change requirements. Implementation in Austria and at the banking subsidiaries in EU member states in the CEE region was started in order to ensure that it will be completed by 1 November 2007.
The SEPA project involves the implementation of the EU directive for the creation of a single euro payments area in the European Union. To enable customers to make payments within the EU as fast, and with the same degree of security, as in the most efficient national payment transfer systems, all relevant payments will be settled at our existing service units in accordance with the SEPA guidelines from 2008 onwards. This will also enable BA-CA to create new payment products and offer them to its customers. An example are cross-border direct debit payments.
HYPerPC GFA project. The switch to the new computer terminal system based on Windows XP was completed as planned for all BA-CA units in Austria. This project involved the conversion of 420 branch servers and 12,859 PCs and self-service facilities.