Süd-West-Kreditbank (or SWK Bank) is one of the leading direct banks for loans/fixed-term deposits, employing 150 people, with total assets of EUR 2.2 billion in 2021. SWK Bank is considered a pioneer in digitalisation and innovation, offering fast application processes with TÜV-approved security, and cooperates as a Banking-as-a-Service partner with other banks and fintechs.
Active since
Founded in 1959, since 2002 active as a Banking-as-a-Service provider.
Head office
Bingen am Rhein/ Germany
Country offices in
Germany/Switzerland
Number of employees
200
Member of industry association and/or initiatives
Ulf Meyer, Managing Director at Süd-West-Kreditbank Finanzierung, is a member of the advisory body of Bankenfachverband (BFACH) since May 2022.
Awards
The Best Savings Bond Bank 2012, The Best Instalment Loans (Creditworthiness Dependent), Finance Award, The Best Policy Loans, The Best Flexible Instalment Loans, The Best Savings Bond Bank and The Best Instalment Loan (all FMH Finanzberatung), Handelsblatt Diamond Award 2017, Bank Best Process Award 2018 (ProcessLab, the research centre of the Frankfurt School of Finance & Management)
CORE SOLUTION
What are the company`s core solutions
Banking-as-a-Service / Business-Process-as-a-Service
How it works
In addition to its own business, SWK Bank provides white-label banking services for financial institutions in processing loan applications, creating and processing overnight and term deposit accounts, and in payment transactions. Customers have access to all services within the life cycle of loans or deposits.
What problem does the company solve
SWK Bank offers a fully flexible and modular product as a prime contractor. This enables partners to enter the German market with a fully digital, modular offering including state-of-the-art process design and management of supply/demand.
Types of supported APIs\API standard supported
REST and SOAP-API available
Industries/target markets
Fintechs, financial service providers, and credit institutions.
Geographical coverage (operational area)
Germany and Switzerland
Number of connected banks
14 (currently in Germany)
TECHNOLOGY
Cloud enabled/on premises/hybrid
Software language
JAVA, PHP
Software developement tools
Several
When was the core technology developed
Constant development, pioneered the market as the first provider of a fully digital loan closure in Germany.
PARTNERS
Technology partners
SWK Bank works together with several service providers including credit bureaus, identity providers, trust centers, fintechs, etc.
BUSINESS MODEL
Pricing model
Hybrid cost model – transaction and/or volume based
Revenue streams
Interest and commission business
Business strategy resources
Innovative technology, first-class employees, and expansion of partnerships
Future developments
Technology leadership and automation in lending business, addition of further relevant product verticals, expansion of Open Banking interfaces
Customers / Case studies
Key Customers
Consumer loans and deposits, company deposits
Case studies
SWK Bank counts among its long-term customers: - A market leader in consumer credit in France and Europe. A subsidiary of one of the largest European banks. - A German banking corporation with a focus on the business areas of sales financing, branch business, and eFinance. - A Swedish fintech and neobank. Provider of Buy Now, Pay Later services.