Strong in-country partnership to launch a new mortgage & personal loans brand in Italy.
The financial services market is on the move. With an increased market access, greater competition due to new FinTech players and new product offerings it is more important than ever to interact digitally with potential customers. Whether financial services are sold to end consumers or through business partners, launching a new product in this evolving market demands a solid IAM infrastructure.
The Credem banking group (Credito Emiliano Banking Group) is a multi-regional financial services group based in Reggio Emilia, in the north of Italy. It’s among the top 10 largest listed banking groups in the country, offering a full range of commercial, institutional and retail banking services.
Credem is always looking to improve their services. For their mortgage and personal loans offering, they developed a new brand, Avvera. The philosophy of this brand is to offer simple, flexible, carefree and affordable personal loans, summarised in their pay-off: “It all starts with a smile.” Launching this brand, Credem has to fully rely on their very strong B2B intermediary network to boost sales. The online access to the service needs to be as simple and flexible as the product itself.
In search of a strong, flexible and simple digital infrastructure, Credem turned to Net Studio S.p.A., an Italian company specialised in design and implementation for Logical Security Systems. Net Studio realised that traditional IAM solutions would not be sufficient in a model where advanced delegation management and privacy & consent capabilities were important requirements. They needed an innovative CIAM solution suitable for B2B processes. The search led to iWelcome.
A strong partnership
Net Studio and iWelcome developed a strong partnership. Led by Net Studio, Avvera implemented and executed its new B2B Identity and Access Management (IAM) strategy to manage identities, remove workload from internal IT by delegation, and increase security. Maurizio Pratesi, Senior Consultant and one of the Founders at Net Studio said: “With the implementation of iWelcome’s IDaaS solution as the central data store and login & authentication portal, Avvera will be ready to conquer the mortgages and personal loans market. The platform is flexible enough to add other applications, matching the ambitions to also add other financial products to the Avvera offering.”
Registration and federation
External users that want access to the Avvera platform are submitted to different types of onboarding processes:
- New partners can request an account, after which they are invited for a physical meeting to establish the new relationship, and to provide all necessary details for authentication. Once all details are verified, the partner account is activated.
- Other banking groups in Italy can login to the platform making use of a federation, based on a SAML integration; users at these banks are trusted and do not need an additional authentication or verification within the Avvera platform.
Advanced delegation and hierarchy
Besides registration of new partners, the iWelcome platform enables Avvera a high level of delegation in user management. Once verified and connected to the platform, every external partner can appoint a Business Delegate power user, who is able to add new users within the company, either manual or in bulk upload. The power user is also able to add hierarchical attributes, such as region and types of product that can be sold per user. This hierarchy serves as a governance structure.
One of the reasons that Net Studio and Credem chose the iWelcome platform are the extensive consent capabilities. “There is no other CIAM product that manages consent and privacy like iWelcome,” states Maurizio Pratesi. “We use the iWelcome consent API amongst others for document consents. If a partner or specific user has not agreed on new term & conditions, the request comes back negative, and it is not possible to gain access to the sales portal.”
Reaching the end-consumer through B2B
The Avvera platform serves as a B2B2C sales framework. Intermediaries use the platform to sell mortgages, and in a later stage salary-backed personal loans, to end users. Impeccable B2B2C service needs to bring a smile to the face of the end consumer. But the platform also offers specific B2B features, only intended for the business partner, such as access to details about their commission balance.
With the iWelcome B2B platform, Avvera shows that impeccable B2B-service is a powerful tool to reach end-consumers.