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K4F for Automotive Market


Volkswagen Bank GmbH, which was founded in 1949, is a wholly-owned subsidiary of Volkswagen AG and a sister company of Volkswagen Financial Services AG. Its central task is to promote sales for the Volkswagen Group and its brands. The products and services of Volkswagen Bank range from financing new and used vehicles from all the Group's brands to direct banking and dealer financing.

With total assets of EUR 83.0 billion as at 31 December 2018 and a portfolio of more than 2.5 million customer financing contracts, Volkswagen Bank has long been Europe's leading automobile bank. As measured by its volume of deposits totaling just under EUR 34 billion at the end of 2017, Volkswagen Bank direct, a business division of Volkswagen Bank, is one of the largest direct banks in Germany.

Volkswagen Bank has always taken on a pioneering role in the development of future-oriented products, for instance with the conception of the three-option financing product AutoCredit. A complex range of offerings up to and including individual product packages ensures carefree mobility for the customer. The products are offered by the Group's dealers as soon as a car is selected as part of a one-stop shopping policy.

Volkswagen Bank offers its customers financial flexibility with its direct banking products. The portfolio includes savings and investment products, credit cards, and dealings in securities.

Volkswagen trading partners can finance new and used cars as well as spare parts and investments through Volkswagen Bank.



Volkswagen is expanding its business, focusing on the expansion of its factoring offering, while still maintaining its distinctive offering in the management of “automobile” products. The goal was to bring the current “auto” customer base onto a factoring platform to then develop additional products (starting with reverse factoring)

To this end, it has chosen to supplement and expand its factoring management product by migrating its infrastructure to a market-leading outsourcer.



We migrated the aspects previously managed on another management platform for the “auto” product to the K4F management platform, while maintaining close integration with the CEDACRI systems.

The integration model adopted provides for both online interfaces, via web services (synchronization between bank central master data and slave master data of the K4F management system, integrated management of the CEDACRI master PEF with the K4F PEF, alignment of granted credit), and batch (provision of wire transfers, SDD, Riba, feeding of the summary systems resident on CEDACRI and, finally, feeding of the summary systems resident on bank applications) and makes use of an integration strategy created entirely by Finwave.

Finwave’s role in the project involved the design and implementation of all integration components between K4F and the CEDACRI systems, the design and integration of the migration phase, as well as consultancy on forms of factoring not yet used by the bank.



The “auto” portion was implemented and fully up and running by April 2022; in 2023, reverse factoring and an initial range of “traditional” factoring products will be implemented

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