The Account Switch Kit provides an effort- and paperless transfer of a current account from one bank to another in less than 10 minutes.
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The Account Switch Kit
PAD COMPLIANT ACCOUNT SWITCHING SOLUTION
On the 18th of September the European Union introduced a new legislation enforcing banks to provide a free account-switching solution to customers. To address the issues arising from the new legislation FinReach has developed a fully compliant electronic workflow that minimizes the effort imposed on the service centre of banks.
FEATURES OF PAD COMPLIANT ACCOUNT SWITCHING KIT
- Data Processing and sorting
- Transmission of 13 months transaction history
- Transfer of all direct debits and standing orders
- Monitoring of legal deadlines
- Forward of balance and closing of bank account
- Transparent and comprehensive monthly reporting
Benefits for the bank offering the FinReach Account Switching Solutions
- Increase the amount of overall switches by +30%
- Reduce backoffice effort and cost by -60%