Callataÿ & Wouters, a provider of core banking and multi-channel distribution solutions, today announced its collaboration with BearingPoint, one of the world’s largest providers of management and technology consulting services, to deliver Thaler Direct Savings Bank to retail banks in Germany. The collaboration offers a best-of-breed direct banking solution, combining Callataÿ & Wouters’ front-to-back office internet savings platform with BearingPoint’s management and technology consulting capabilities.

Banks in the region can now quickly implement and benefit from the ready-to-run platform that has been localised to suit the needs of several markets, including Germany. The solution supports German payments, settlement and clearing, as well as regulatory reporting and tax requirements. The collaboration with BearingPoint provides Callataÿ & Wouters with a route to market for Thaler Direct Savings Bank in Germany, with BearingPoint gaining an additional channel in the region for its management and technology consulting services.

The growing number of mergers in the German banking market is driving the need to retain and attract retail customers. With competition for the retail customer on the increase, banks are faced with the challenge of continually delivering attractive products to maintain a competitive advantage. As such, establishing a savings bank under a new brand name will put banks in a strong position in today’s market. With Thaler Direct Savings Bank, banks can set up their direct banking units and roll out high interest online savings products with minimal effort in as little as four months. In addition, the secured and user-friendly user interface allows banks to achieve high levels of operational efficiency with the straight through processing of transactions.

Callataÿ & Wouters launched Thaler Direct Savings Bank in August 2008 to enable banks to meet the growing customer demand for high interest savings products. With the cost of funding increasing in the face of the credit crunch, the platform allows banks to attract more diverse, widely-spread and stable revenue. Banks can also adopt a model of self-service by empowering the customers to be more self-sufficient. With customers managing and servicing all aspects of their accounts independently, this supports banks in streamlining customer interaction, enabling them to minimise overheads and pass on considerable incentives and savings.

The solution is designed to run on banks’ own servers or via a Software as a Service (SaaS) model, offered by service providers such as Deutsche Börse Systems, a member of Deutsche Börse Group. The SaaS model combines Callataÿ & Wouters’ expertise and front-to-back office functionality with hosting, infrastructure and application support from Deutsche Börse Systems. With the solution hosted on Deutsche Börse Systems‘ servers, banks can avoid the peak in expenditure associated with the set-up of traditional IT projects.

Thaler Direct Savings Bank is a part of the Thaler product line from Callataÿ & Wouters. The company offers core banking solutions for retail, private and corporate banking that includes functionality for deposits, loans, securities, treasury and payments, as well as dedicated front-office modules such as an intuitive user interface.

Gabriele Höhler, Managing Director, BearingPoint, said: “We’ve seen a tremendous need for this solution in Germany, where banks are looking to create additional channels to market and establish new business lines. With the volatile and competitive market conditions, Thaler Direct Savings Bank is a compelling proposition to banks. Callataÿ & Wouters has extensive banking expertise, a solid product and a strong reputation for the delivery of its products. As such, we complement one another and are well-positioned to help banks compete against new market entrants and continually deliver high levels of customer service.”

Marc De Groote, CEO at Callataÿ & Wouters commented: “Our teaming up with BearingPoint in Germany is key to our international expansion plans. By collaborating, we can deliver a best-of-breed solution that provides the seamless integration between software application, consultancy and implementation. Having successfully launched Thaler Direct Savings Bank in several European and Asian countries, we are now primed to roll out a localised version to meet the specific needs of the increasingly competitive German market.”