| | Trends

Continuity creates trust

The coronavirus has spread at a rapid pace and is putting both private individuals as well as companies in an unprecedented situation. But especially in these unsettled times, it's important to ensure continuity in the economy. As a financial services provider, we believe it's our duty to make our contribution to creating the maximum stability possible, particularly in the current situation. In addition to protecting the health of our colleagues, we focus most of our attention on our clients. They count on us to meet our quality promise – even in difficult times.

In past years, our company has already invested considerably in digitizing our business processes. This is paying off in the current situation. Most of our employees can now work from home and carry out their professional tasks. This way, we are able to guarantee the usual quality of our services for our clients and support them in their financial processes, giving them the freedom they really need to develop and secure their own operations.

Securing liquidity and acting in solidarity

Besides containing the virus itself, governments around the world are trying to curb the economic impacts of the widespread standstill. For this reason, they have initiated support programs with one primary goal: to secure liquidity and the continued existence of companies. With our services, we make an important contribution towards securing liquidity, while also creating trust in these circumstances. For instance, we support companies with optimal, customer-centric debt collection to recover urgently required financial resources. In doing so, we’re not closing our eyes to reality. Many consumers are likewise facing financial difficulties in the present situation. For this reason, more than ever before, we are endeavouring to find supportive and cooperative solutions for consumers that also ensure the survival of the companies.

Seamlessly processing increased transaction volumes

In these times, there are also sectors facing a considerable increase in demand. Online shopping is replacing downtown strolls, while thrilling series and films on streaming platforms provide an alternative to going out. The growing demand is posing a number of challenges to these sectors: For example, online retailers have to process higher transaction volumes than usual. Many new customers are placing orders, which makes the risk assessment prior to the first purchase indispensable for minimizing fraud and payment defaults. We can detect significant increases on our risk management and fraud prevention platforms. Another key factor for providers of digital services is payment processing. Providers should ensure that as many payment options as possible are available, allowing customers to pay with the method they prefer. In some cases, demographic groups who would not otherwise order and pay online are also making the most of the possibilities of online shopping. If these new customers only encounter complicated, digital payment options that they’ve never used before, this could put them off placing an order. This not only reduces turnover, but also makes it difficult for people to purchase important supplies from home. In this respect, pay-after-delivery solutions are a practical, barrier-free option.

Keeping the economy running

As the CEO of Arvato Financial Solutions, I am confronted with this range of developments on a daily basis. I’m proud to see how our employees are giving their best every day to support sectors and companies with flexible and efficient solutions, in all business areas and markets. We find ourselves in an extraordinary situation, both privately and economically. And we will have to persevere for a while before we can return to normality. Therefore, we thank our clients all the more that they continue to place their trust in us enabling to be their backbone. We will continue to meet our social responsibilities and are trying our very best to make the increasingly complex world at present a little easier for you.