Honda Bank opts for the COR&FJA core banking system

(PresseBox) ( Leinfelden-Echterdingen, )
Honda Bank GmbH, based in Frankfurt am Main, has decided to install our COR&FJA core banking system CORBAS following the completion of the company's comprehensive software selection process. As part of the collaboration between the two companies, which was agreed several days ago, COR&FJA will replace the present legacy system with CORBAS during the course of the year. This will involve exporting Honda Bank's entire contract portfolio to the new solution. The aggregate volume of this order is in the upper single-digit million range and the maintenance and repair, operational and software maintenance agreements have an overall term of ten years. This large-scale order has enabled COR&FJA to expand its customer base once again in the attractive segment of automotive finance companies and sales finance.

After the project's completion, which is scheduled for the end of 2013, the aim is to operate the system in ASP (application service providing) mode, with COR&FJA assuming overall responsibility for its smooth operation. In the course of the installation project, which has already begun, COR&FJA will also connect up all of Honda Bank's peripheral systems to CORBAS while ensuring and documenting their SEPA compliance as well as all the other regulatory requirements of automotive finance companies in Germany.

In CORBAS, COR&FJA has an integral and internationally deployable core banking solution at its disposal for all the banking sector's significant services and business processes. This tried-and-tested, platform-independent and multilingual standard software supports the transactions of private and universal banks, direct banks, automotive finance companies and specialised institutions. In this way, the system can cover the entire value chain in an optimum manner - from client management to contract management, from payment transactions and reporting to accounting. Its main focus is on the replication of business processes, which within CORBAS can be adapted flexibly to company-specific requirements at any time.

About Honda Bank

Honda Bank GmbH is the financial services subsidiary of Honda, the automobile and motorcycle manufacturer. Honda Bank's product portfolio encompasses not only sales financing for new Honda vehicles (cars and motorcycles) and used vehicles of all makes (cars and motorcycles), but also leasing for private and commercial customers. In addition, the company acts as a broker for residual-debt and lease-instalment insurance policies. Authorised Honda dealers are also offered procurement financing for new and demonstration vehicles (cars and motorcycles) as well as for used cars. Honda Bank, whose head office is in Frankfurt am Main, also has a branch in Spain and currently has a workforce of nearly 100.
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