In the case of Bremer Kreditbank AG (BKB), a traditional Bremer bank decided to use the BARS balance analysis system. This system, which was developed by S&N, is used by more than 200 financial institutions to assess creditworthiness in corporate business.
In 1863, Bremer Kreditbank was founded by six merchants from Bremen. It has an exciting and eventful history. In 1982, the Belgian KBC Group took over the majority of shares. As a result, in 1999, Bremer Kreditbank was renamed KBC Bank Deutschland.
In 2006, the bank had its first encounter with S&N AG. When the KBC group decided to introduce BARS, the German subsidiary played an instrumental role in the technical design of BARS (i.e. the customisation). Together with the parent company, KBC Bank Deutschland largely adapted BARS to the requirements of its own business. Since 2007, BARS has been used for balance sheet classification and analysis.
When it became clear that BKB would leave the KBC Group, risk management looked for a way to be able to continue to BARS and turned to S&N. Together with the “soon-to-be parent company”, a satisfactory solution was soon found.
Based on the Belgian BARS Version, BKB and S&N developed a concept for using BARS in Bremen. The technical need for adaptation survived on very small scale because the existing version of BARS perfectly fulfilled most of the requirements of BKB. However, with the departure from the KBC Group, the currently connected systems, especially the rating module, could no longer be used. As part of the customisation, an integration into the new IT infrastructure of the BKB took place. The BKB decided to connect to an external rating service with which S&N had experienced successful cooperation.
In a close and efficient collaboration with the IT and business departments of the BKB (thanks again for the successful cooperation), this BARS project was implemented within three months and completed in time for the re-branding of the bank.
At the end of September, the financial statements were exported from the old system. This was completed within the given time frame and without any problems.
On 1 October 2014, together with the newly formed Bremer Kreditbank AG, BARS successfully began lending operations.