Siemens Financial Services Limited is a leading provider of innovative finance solutions to UK businesses and public sector organisations.
With more than 250,000 customers, they have arranged finance for 90 of the current FTSE 100 companies and more than 50% of NHS trusts and local authorities. They provide solutions ranging from £1,500 to many millions for a diverse range of financing needs.
The large majority of Siemens customers are using Direct Debit as their payment option. Siemens Financial Services saw the potential of this payment method from both a customer service and efficiency perspective and were keen to become AUDDIS originators. By achieving this status, the time spent processing Direct Debit Instructions would be greatly reduced, ensuring a swift and efficient service to customers.
In order for Siemens Financial Services to become an AUDDIS originator, the company needed to ensure that all Direct Debit Instructions were validated correctly before being processed and were recommended Bank Wizard, from Experian to provide the necessary level of validation.
Bank Wizard is currently used in the new business area to validate new customer bank account details. In addition, it is used in the customer services area to validate existing customer bank details when these change.
"The main reason for selecting Bank Wizard was our decision to migrate our Direct Debit Instructions over to AUDDIS. Bank Wizard provided bulk validation on all of our existing data, simplifying the successful migration to AUDDIS. In addition, validation problems due to bank details being keyed incorrectly have virtually been eliminated since implementing Bank Wizard. We have also been impressed with the level of service received from Experian. They have provided us with lots of assistance and in particular we have received good support from the technical team".
Siemens Financial Services Limited