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Innovation 2019

Contactless payments with Fitbit now available for customers at KBC, CBC and KBC Brussels

Today, Fitbit (NYSE:FIT) and KBC launched Fitbit Pay in Belgium. KBC, CBC and KBC Brussels customers who have a Fitbit smartwatch or activity tracker can now use it to pay in shops that accept Maestro and have contactless payment available.  

The initiative makes KBC the first financial institution in Belgium to offer Fitbit Pay,  a fast, secure, free and convenient contactless payment option for customers who lead an active life.  The launch adds to KBC’s commitment to pioneering new payment methods and follows the bank’s introduction of Google Pay and Garmin Pay. 

Karin Van Hoecke, KBC's General Manager of Digital Transformation ‘The launch of Fitbit Pay in Belgium is an ideal solution for KBC customers who lead an active life. We recently provided the possibility to pay with Garmin Pay and the feedback we've received has been very positive. A more general wearables payments trial where customers can pay with their watch, ring, bracelet or key holder, is now running and again the reactions are promising. By including Fitbit Pay in our range of payment solutions, we hope to satisfy even more active customers.  It allows a seamless connection between sport and payments, with no need to carry cash or your bank card.'

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Enter and exit conveniently a Q-Park car park? Rent a shared bike for the day? KBC (Brussels)/CBC Mobile app users can do so.

Starting the second half of March, KBC Mobile app users can enjoy even more convenience, with the ability to:

• Drive into and out of Q-Park car parks using number plate recognition and pay automatically with KBC Mobile

• Rent a shared Blue-bike or Velo Antwerpen bike for the day

 

Karin Van Hoecke, KBC’s General Manager of Digital Transformation in Belgium, explains: ‘These two new additional services will once again save our customers a lot of time. Just link your number plate once to park with ease in no time. Or rent a shared bike for the day at the last minute to cycle the last part of your journey. Over a million customers use KBC Mobile and log in at least once a day. Additional third-party services available through our KBC Mobile app since last year are already a success. That’s certainly helped by the fact that customers can use them without having to install a separate app. Figures for the end of February 2019 speak for themselves: 181 000 parking sessions via 4411, 182 000 De Lijn public transport tickets and 60 500 SNCB train tickets. Our Mobile app lets our customers use the mobility solution that suits them best on the fly.’

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Wena pay launches in KBC Ireland

KBC customers are the first in Europe to pay with a twist of the wrist with Wena by Sony. Sony has embedded their payment technology into a smart bracelet, attached to a traditional watch face, that next to payments also allows customers to track fitness and receive notifications.

Wena by Sony takes a unique approach to the digital wallet. By incorporating the technology in the bracelet (instead of the watch itself), it allows customers to interchange their favourite traditional watches with the Wena bracelet. This means any watch can become a smart watch.

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KBC (Brussels)/CBC customers to transfer money instantly at no extra cost

From now on, customers who have a Plus Account or business account with KBC can transfer money to other accounts in seconds, even to accounts held at other participating banks. Instant credit transfers can be made or received 24/7 (weekends and public holidays included) by customers of participating banks.

KBC doesn’t charge for instant credit transfers.

Instant transactions are nothing new for KBC customers, who have been able to transfer and receive money between KBC accounts in real time for some time now.

Now they can also make instant credit transfers to accounts held at other Belgian banks. Belgian banks gradually introducing instant credit transfers include: Argenta, Bank de Kremer, Bank J. Van Breda & C°, Bank Nagelmackers, Belfius Bank, BNP Paribas Fortis, CBC Banque, CPH Banque, Crelan, Europabank, Fintro, Hello bank!, ING Belgium, KBC Bank, KBC Brussels and vdk bank. A growing list of banks in Belgium will offer this service going forward.

Ivo De Meersman, General Manager of Payments & Cards KBC Bank, sums up the benefits for customers: ‘Belgium was one of the first countries with banks offering their customers instant credit transfers. KBC has striven to give its customers the unique possibilities offered by modern payment technology right from the start. Today, credit transfers between different banks take on average two business days. From 4 March onwards, transfers made using KBC digital services will appear on accounts at other banks in just a few seconds – at no extra charge. Instant credit transfers mean payments are now much faster and more transparent.’

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KBC/CBC customers now able to invest within their comfort zone with CoZI

Starting this year, customers making investments are not only having their risk profile tested, they can also enhance that profile by including their attitude to profit or loss or to changing market and stock market conditions. This upgraded risk profile ensures they invest within their comfort zone (‘CoZI’) at all times. 

KBC started applying this updated approach to investing in January 2019.  It extends the conventional view of investing to include insights from behavioural economics, due to the fact that emotion tends to play a significant role in investment matters.  

Thanks to CoZI, the customer receives a proposal that is better suited to him or her, both at the outset and afterwards. At the same time, KBC provides a range of smart investment solutions, the composition of which is adjusted to take account of changing market conditions. The frequency and size of the adjustments are geared to the customer's profile.

 

What is CoZI? 

• ‘CoZI’ stands for ‘Comfort Zone Investing’

• The comfort zone is defined in terms of upside potential, downside risk and time horizon  

• The customer's attitude is incorporated into the profile description, resulting in a tailored investment offering  

• Any adjustments to the portfolio are carried out more quickly based on the customer's comfort zone

• Each investor profile has a corresponding model portfolio 

• KBC aligns the customer's portfolio with the model portfolio

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Bulgaria: DZI introduces a fully digitized claims handling process of CASO+ insurance

DZI - an insurance company among the top three in the insurance market – launches a fully digitized claims handling process of CASCO+ insurance policies. This results in a significant optimization of the time for receiving a compensation -within 24 hours after submitting the required claim-related documents, as well as an elimination of submitting documents on paper. This service is unique amongst the top insurance companies in the Bulgarian market.

The full digitalization covers four stages – submission of online damage reporting, preparation of a list of possible damages, preparation of a digital dossier with all supporting documents, and online checking for the status of the damage.

„The investment in systems, specially prepared for our needs, is just one aspect of the ongoing process for digitalization of the services of DZI. Every year we witness a rise in the demand for digitalized solutions, which obliges us, as a leading insurer, to invest in increasing the satisfaction of our clients within the legal possibilities”, Bistra Vassileva, Executive Director General and Corporate Insurance at DZI commented on the introduction of the new service.

KBC offers certainty on home loans in just ten minutes.

Since the end of November, customers[1] of KBC, CBC and KBC Brussels have been the first and only ones in Belgium able to get a firm answer on their loan application within ten minutes. This ensures that their dream home or ideal building plot won't be snaffled by someone else.

KBC, CBC and KBC Brussels have optimised, speeded up and fully personalised their lending process in a way that meets this clear customer demand for swifter certainty when borrowing to purchase a property.

In just ten minutes, customers can proceed in a user-friendly way from a no-obligation simulation in KBC/CBC Mobile and Touch (computer/tablet) to a formal online loan application. They’re offered a fully personalised, competitive interest rate and immediate certainty as to whether their application can be approved. This means they can quickly say yes to a vendor or estate agent and can keep a step ahead of other would-be buyers.

During the pilot period over the past two months, some 400 customers have already agreed a home loan in this way: that’s on average seven successful applications every day. Around 1 500 customers checked whether a loan was feasible for them.

In just ten minutes, KBC offers certainty about a home loan, including a personalised and competitive interest rate.

‘More and more families are looking for a high-quality home. Prices have been rising for years, while in an environment of persistently low-interest rates, real estate is equally desirable as an investment. It means that anyone who has found the home or building plot of their dreams generally has to contend with multiple would-be buyers and is under pressure to make a quick decision.  So it’s vital for would-be buyers to get a swift answer on a potential home loan. Our new, unique, user-friendly, fast and personal solution meets that need perfectly’, explains Veerle Timmermans, KBC Bank’s General Manager of Retail Lending & Deposits.

 

[1] For technical reasons, this is only possible at the moment for retail customers in paid employment. The self-employed and prospective customers can run a loan simulation, but the decision on the loan itself will continue to be taken for now via the customary process.

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KBC Corporate Banking signs cooperation agreement with two Belgian fintechs


KBC Corporate Banking is to collaborate with Cashforce and BrightAnalytics to provide Belgian businesses with enhanced support for their working capital management, cash flow forecasting and management reporting. The tie-up could also develop over time into a more structural partnership.


Cashforce developed a state-of-the-art application that uses a firm’s internal data to map out its working capital and future cash flows, provide insights for optimisation and highlight future funding requirements through simulations. The software has the capability to consolidate complex international group structures and to visualise them in easy to understand analyses and dashboards that enable the company’s CFO to manage its worldwide working capital and cash, and deliver easy reporting.


BrightAnalytics provides management reporting assistance for SMEs and mid-caps. The firm helps create user-friendly and interactive overviews for each key component of financial reporting within a business. The software is able to generate real-time profit and loss accounts, balance sheets and cashflow statements with powerful visualisation tools for complex organisations and across entities.


Wim Eraly, Senior General Manager KBC Corporate Banking: ‘We’ve recognised for some time now that we must collaborate with more advanced technology with our clients. The days are gone when a relationship manager could sit down with the client and make a rough calculation of the funding requirement for the year ahead on a piece of paper or using a spreadsheet. We have to support our clients even more effectively in this area by helping them achieve accurate real-time insights. This also applies to operating results. Accurate figures visualized in clear reports ensure that you always know perfectly how your organization is performing. We also believe in Open Banking at KBC, so rather than building solutions like this ourselves, we look for outside partners who use technology to create the right solutions for our clients. Following our Soluz.io joint venture, Cashforce and BrightAnalytics are the next fintechs we’ve partnered with as part of that approach.’  

 

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