Advanzia Bank launches cutting edge credit card enrolment in Germany

Digital-only bank's innovative process onboards customers in minutes, setting new industry benchmark

• Accelerated, fully digital and hassle-free application delivers credit cards to German customers' fingertips in record time
• Innovative omni-channel experience provides cutting-edge benefits and opportunities to private customers and co-branded card partners
• Seamless user experience (UX) and paperless process reaffirm Advanzia's dedication to user-centricity and sustainability

Luxembourg/Germany, 28 June 2024 – Advanzia Bank has unveiled its pioneering enrolment process in Germany, shrinking application times from 10 days to a matter of minutes. This fully digital, intuitive process is fuelled by cutting-edge technology, providing credit card applicants a seamless omni-channel experience across all devices.

First piloted in Austria in November 2023, Advanzia's innovative process sets a new industry standard, with acceptance speeds eclipsing other credit cards on the market, apart from certain prepaid cards. This milestone solidifies the digital-only bank's commitment to anticipating its customers' evolving needs, while ensuring Advanzia's duty of care and compliance in a complex regulatory environment.

The digital bank's accelerated and simplified onboarding process offers:

• Real-time credit scoring
  Creditworthiness estimates are now performed in real-time, approving customers instantly instead of taking one day.
• Automated know your customer (KYC)
  The fully automated process allows applicants to scan their face and ID document with their device's camera, and conducts a real-time face match to immediately confirm the applicant's identity.
• Fully secure e-signature
  The time-consuming wet-signature process is replaced by qualified electronic signatures (QES), where applicants can receive a one-time password (OTP) and sign within minutes, lowering abandon rates.
• Sustainability and user-centricity
  This paperless breakthrough contributes to a greener and more sustainable future, while the fully digital customer journey supports Advanzia's commitment to improving user experience​ through technology.

Linda Früh, Chief Product & Commercial Officer at Advanzia Bank, comments: “We're delighted to offer this superfast enrolment process in Germany, allowing customers to receive the Gebührenfrei Mastercard Gold in record time through a quick and straightforward digital application journey. This significant improvement of the online application process not only benefits our private customers in Germany but also offers our co-branded partners innovative ways to deepen brand loyalty. Starting this autumn, when we launch the digital card, our customers will benefit from instant digital card issuance via our mobile app, enabling immediate e-commerce purchases right after application. Our co-branding partners' customers will be able to apply for and receive an instant-use loyalty card to enjoy additional rewards already at checkout."​