Wiesbaden, 3 June 2008 – Aareal Bank's Institutional Housing Business has launched “Aareal Account”, a new electronic banking solution that facilitates mass payments for clients. Scheduled for launch in June 2008, Aareal Account comprises a suite of payments services and account products. Aareal Account allows clients to execute mass payments via a direct link to Aareal Bank - independent of the client’s industry sector or IT platform used.
Aareal Bank is one of the leading providers of optimised payments and other banking and financial services, with a focus on the institutional housing and property management sectors. BK01 and BKXL, its tried-and-tested payment modules have been integrated into several enterprise resource planning (ERP) systems commonly used in the commercial housing sector, including “Blue Eagle”, the SAP-based solution developed by Aareal Bank’s subsidiary Aareon AG. As a ‘stand-alone’ electronic banking product that can be run independently of any existing ERP system, Aareal Account has been developed specifically for smaller enterprises. With this additional product, Aareal Bank aims to explore further target customer groups.
Users access Aareal Account through a portal site protected by state-of-the-art encryption technology; thanks to this web-based access option, the solution does not tie up computing capacity at companies using it. The portal can be used to submit all types of payment orders and release instructions: it can also import electronic account information. Moreover, through the use of 'virtual' account numbers, Aareal Account helps to improve reconciliation of bank account entries to pending items in the internal accounting system – thereby avoiding errors.
Aareal Account users also gain access to various value-added services, including Aareal Bank’s newly-developed accounts management system, which is already compliant with SEPA, the Single Euro Payments Area. Available on a 24/7 basis, the accounts management system offers particular benefits in terms of flexible account schemes and user authorisation levels.
Aareal Bank Group
Aareal Bank is one of the leading international specialist property banks. The Aareal Bank share is included in Deutsche Börse's mid-cap MDAX index. Leveraging its successful European business model, Aareal Bank’s Structured Property Financing segment is active on three continents, having established similar platforms in North America and in the Asia-Pacific region. It provides property financing solutions in more than 25 countries. The Consulting/Services segment, which includes the Institutional Housing Business, offers the institutional housing sector a comprehensive range of services for managing residential property portfolios and processing mass payment flows. The bank is a market leader in providing payments services to German property companies.
