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Innovation 2019

Sending a registered e-mail directly from KBC/CBC Mobile is a fact

A real first for Belgium is that as of today customers of KBC, KBC Brussels and CBC can send a registered mail directly from KBC/CBC Mobile. KBC cooperates with IPEX for this purpose.

 

Karin Van Hoecke, general manager digital transformation KBC Belgium: "KBC Mobile has so far mainly offered extra services related to mobility (parking at 4411 and Q-Park, tickets of De Lijn and Belgian railways NMBS/SNCB, shared bikes) as well as access to service cheques (Sodexo), meal and eco-cheques (Monizze). We have noticed that our customers increasingly appreciate this extra-banking offer. After all, they no longer need to download a whole series of different apps, but can find everything in their user-friendly banking app. That is why we are very happy to be able to expand our offer now and to be able to offer services that reduce the administrative burden for our customers in a simple, user-friendly way.

We have noticed that the customer greatly appreciates ease of use and comfort, since we have now about 1 million contracts of banking and insurance products signed online".

 

What is the IPEX Registered E-Mail?

In cooperation with IPEX, KBC offers an alternative to registered courier with the advantage that the customer does not have to travel. The customer can use the registered e-mail to cancel his/her rental contract, fitness subscription, energy supplier contract,...

He can draw up and send the e-mail from KBC/CBC Mobile and follow up online who sent or received the e-mail at what time.

The KBC partner for this service, IPEX, guarantees the integrity of the consignment, i.e. the content of the document is transmitted unchanged. In addition, the registered e-mail is almost immediately offered to the recipient.

Sending a registered e-mail costs 4,85 euro.

For more information: press release of 18/6.

KBC wins with EVA the Silver Award Efma-Accenture

The annual Efma-Accenture Innovation in Insurance Award selects each year the most innovative achievements in the insurance industry from dozens of applications.

With ‘EVA, unlocking expertise anywhere anytime instantly', KBC won the Silver Award in the Workforce Transformation category'.*

EVA or Email Virtual Assistant is an innovative solution that will be the inevitable “companion” of every employee in customer support processes. Nowadays, these processes suffer from a complex structure: e.g. a mishmash of various mailboxes to submit your question. Secondly, it is very time-consuming to find “on the spot” the relevant part of information  you need within the “information overload” to give a complete and correct answer. In its core EVA is driven by two artificial intelligence-powered components:

• smart routing: recognize the topic of an incoming question and route it automatically to the right department or person

• intelligence augmentation: supports the customer support employee by providing relevant suggestions of historical answers and supporting documentation

With these two components EVA enables to increase the productivity of customer support employees and valorizes knowledge work. With as benefit that one can focus on the real value added tasks which increases the job satisfaction.

*The winners were selected through a combination of votes by a panel of judges comprising senior insurers from around the world and online by Efma members and non-members from insurance institutions. Each entry was assessed using three criteria: its originality; its strategic capacity to create a long-term competitive edge and return on investment; and its adaptability for use in other markets and countries.

Movie EVA

Customers of KBC (Brussels) / CBC can consult government documents in the eBox electronic mailbox.

Soon, customers will be able to consult their personal administrative documents in the government's eBox directly from KBC Mobile, in the user-friendly way specific to KBC Mobile. Documents that can be consulted are amongst others National Office for Annual Holidays (RJV), National Employment Service (RVA), documents linked to Tax-on-Web, fines, invoices sent by the local authorities, etc.


 KBC recently concluded an agreement with the government to integrate access to the eBox into KBC/CBC Mobile.
 
Philippe De Backer, Minister of Digital Agenda, Telecommunications and Post, in charge of Administrative Simplification, Combating Social Fraud, Privacy and the North Sea, says: "The integration of the e-Box in KBC Mobile will enable hundreds of thousands of KBC’s customers to receive documents from the public services in the application they already use daily. In concrete terms, this means that it is the administration that goes to the citizen and he or she does not have to learn to manage an additional application and will have all the advantages of the e-Box in an environment that he or she knows well".
 
eBox is the government's electronic mailbox and provides citizens with easy and secure access to electronic government documents. The aim is simple: to centralise all documents in one place, regardless of whether the document originates from the federal, regional or local authorities.
 
https://mye-box.be/nl/news/steeds-meer-overheidsdocumenten-beschikbaar-in-my-e-box
 
In the autumn, KBC(Brussels) and CBC customers will have very easy access to this eBox via KBC/CBC Mobile.

Read more.

A consortium of 14 banks with a worldwide spread agree to invest in the Utility Settlement Coin (USC). (Only in English)

On May 13th, the Utility Settlement Coin Project announced the end of its research and development phase and took the next step by launching a new company, called Fnality International, with KBC as one of the 14 founding shareholders.

Fnality will oversee the building of a platform to enable tomorrow’s financial market infrastructure through the introduction of the peer-to-peer digital cash asset, USC.  USC offers a digital payment token and a blockchain platform, with the aim to become the primary digital cash asset to settle tokenized value transactions with finality in wholesale banking.  Contrary to other digital currency initiatives, USC will be backed by central bank money.  Initially, five currencies are in scope: CAD, EUR, GBP, JPY & USD. Further currencies will be added in due course.

Guy Libot, KBC’s Senior General Manager Shared Services & Operations: ‘USC will be an enabler for tokenized markets and also offers a significant opportunity to simplify liquidity management, using one digital cash asset for as many settlement needs as possible.  It opens the door to 24/7 peer to peer wholesale payments in different currencies.’

Rudi Peeters, KBC Senior General Manager ICT: ‘Blockchain is a magnificent technology that has the potential to disrupt every existing business model.  Being a threat on the one hand, it offers huge opportunities on the other hand.  For the financial world, realizing cash on ledger is a true milestone. This is one of the most impacting blockchain cases for the future. As KBC, with this and other cases, we keep investing in Blockchain and believe in the potential of the technology.’

Founding members: Banco Santander, BNY Mellon, UBS, Barclays, CIBC, Credit Suisse, State Street, MUFG, ING, KBC, Commerzbank, SMBC, Lloyds Bank, Nasdaq.

Learn more.

 

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.'

Read more.

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.’

Read more.

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.

Read more.

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.’

Read more.

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 CASCO+ 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.

Read more.

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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