Hanseatic Bank
As a private bank based in Hamburg, Hanseatic Bank operates throughout Germany. It specializes in four core businesses: deposit-taking , real-estate related financing, receivables management and credit cards. The company's products are distributed by partners as well as directly in one of the ten branches, online or through its own service center. Additionally, within the framework of factoring collaborations, Hanseatic Bank acquires receivables from companies within and outside of the Otto Group.[3] The bank has more than 470 employees working at the headquarter and the subsidiary Hanseatic Service Center GmbH in Hamburg as well as at the branches in Berlin, Erfurt, Cologne, Leipzig, Nuremberg, Rostock, Stuttgart, Schwerin and Würzburg.[4]
 | |
| GmbH & Co KG | |
| Industry | Banking, Financial services |
| Founded | 1969 |
| Headquarters | Bramfelder Chaussee 101, 22177 Hamburg , Germany |
Number of locations | 10 |
Area served | Germany |
Key people | Michel Billon (managing director) Detlef Zell (managing director) |
| Products | Consumer credit (credit cards, personal loans) Deposit and savings |
| €36.2 million[1] (2017) | |
| Total equity | €305 million[2] (2017) |
Number of employees | 473 |
| Website | www |
History
The bank was founded in 1969 as a consumer credit institution to finance goods purchased by customers of the mail order firm Otto Versand.[5]</ref> At the time, the bank was operating under the name Hanseatic Bank Teilzahlungsfinanzierungs-GmbH & Co KG.[6] Its initial activity consisted of providing Otto customers with consumer credits for their purchases from mail-order catalogues and managing the corresponding payment transactions.
In 1976, it was converted into a chartered universal bank.[7] This enabled the product portfolio to be expanded to include all banking products. In addition to issuing consumer loans, savings certificates and deposits made it possible for customers to make secure investments. Later, this segment was further expanded to include transactions with funds and life insurance policies. A branch network was set up as part of the introduction of deposit-taking business. In 1976, branch offices were opened in Essen, Hanau, Hanover and Nuremberg in addition to Hamburg. In 1985, the bank was one of the first providers to introduce ATMs in Germany.
1990 - 2005
After the German reunification in 1990, the branch network was extended to the East German cities of Leipzig, Dresden, Erfurt, Schwerin and Rostock from 1991 to 1993. The factoring business with Otto and Schwab was also introduced in 1990.
The development of the real estate business started in the mid-1990s. From 1996 to 2005, the pre-financing of the state subsidy for owner-occupied homes was part of the portfolio. Since 1997, the bank offers its own product “EigentümerDarlehen”, a personal loan for home owners.
2005 - present
Until 2005, Otto Versand held 90 percent and Schwab Versand 10 percent of the shares in Hanseatic Bank.[8] In 2005, the major French bank Société Générale acquired 75 percent of the shares; Otto Group continues to own a 25-percent stake.
In 2006, Hanseatic Bank founded its subsidiary Hanseatic Service Center GmbH (HSCE), where the employees are responsible for the lending and deposit administration and answer customers’ and partners’ questions via phone and e-mail.
In 2007, the bank developed a customer credit card for Otto and Schwab customers. One year later, the bank's own GenialCard credit card was launched, followed by the GoldCard in 2015. In the meantime, the credit card business has been further expanded with cooperation partners.
On February 10th, 2019 Hanseatic Bank celebrated its 50th anniversary.
Former managing directors
Since its foundation, Hanseatic Bank has had 14 different managing directors. Currently, Detlef Zell and Michel Billon hold this office.
The managing directors in detail:
- until 1969: Horst Hansen
- 1969-1971: Wilhelm Hopp
- 1971-1973: Peter Ott
- 1973-1977: Walter Willhöft
- 1974-1985: Friedhelm Rüther
- 1977-1981: Dr. jur. Ullrich Pannwitz
- 1981-1992: Dr. jur. Michael E. Crüsemann
- 1981-1983: Hans Duve
- 1985-2001: Karl-Heinz Albien
- 1992-2007: Torsten Brandes[9]
- 2001-now: Detlef Zell
- 2006-2009: Arnaud Leclair
- 2009-2010: Stéphane Riehl
- 2010-now: Michel Billon[10]
Products and Partnerships
Hanseatic Bank distributes a range of its own products. In many business areas it also operates closely in collaboration with partners.
Deposit business
In the deposit business, Hanseatic Bank offers a free savings account, which allows the customer to access the money at any time. The bank also offers a free savings bond, which can be concluded with a fixed or a variable interest rate.
Credit business
Hanseatic Bank's EigentümerDarlehen (loan for real estate owners) offers a financing solution for the acquisition or modernization of real estate. The loan is generally used as a supplement to the initial financing and is sold by numerous partners, such as brokers, building societies and insurance companies.
Hanseatic Bank also issues its own credit cards, the GenialCard and the GoldCard. The GoldCard includes an insurance package with, among other things, a curtailment, a baggage and travel health insurance. The bank also issues white-label credit cards together with partners.
Cooperation partners in the credit card business are:
- Karstadt with the Karstadt VISA Card
- ACE Auto Club Europa with the ACE credit card
- Agentur DynamicDrive with the Deutschland credit card
- Orlen with the star VISA credit card
- compexx Finanz AG with the pluskarte VISA
- hagebaumarkt Partner-Card Visa with hagebaumarkt
- WERKERS WELT Partner-Card Visa with WERKERS WELT
Hanseatic Bank's first contactless credit card was issued together with Orlen Deutschland GmbH in 2013. Meanwhile, the majority of Hanseatic Bank's credit cards offer contactless payment.[11]
Hanseatic Bank's portfolio also includes the GenialKredit, a small loan of 500 euros, as well as the DirektKredit, which is distributed in cooperation with SWK Bank.
Insurance business
In addition, Hanseatic Bank offers a wallet insurance (SicherPortemonnaie), which compensates costs due to misuse or loss of credit card as well as theft of cash or the loss of house keys or identification documents. In the case of unemployment or incapacity to work, the bank's product SicherKreditkarte covers outstanding installments.
Data safety
In 2014, Hanseatic Bank implemented the 3D Secure "Verified by Visa" method. For online card payments, bank customers now receive a one-time password via text message after a risk assessment.[12]
Education and training
Hanseatic Bank offers various apprenticeships, for example a dual course of study at the Hamburg School of Business Administration (HSBA). This training as an Office Manager is completed parallel to a Bachelor of Science degree. The bank's subsidiary Hanseatic Service Center offers an apprenticeship as Management Assistant for Dialogue Marketing. Employees also have the opportunity to attend training courses. These are held both internally and externally. For this purpose, the service center maintains its own training team.
References
- Annual report Hanseatic Bank, https://www.hanseaticbank.de/fileadmin/docs/HB_GB_2017.pdf (in German)
- Annual report Hanseatic Bank, https://www.hanseaticbank.de/fileadmin/docs/HB_GB_2017.pdf (in German)
- Homepage Hanseatic Bank, Wir über uns (in German) https://www.hanseaticbank.de/services/ueber-uns
- Homepage Hanseatic Bank, https://www.hanseaticbank.de/kontakt/filialsuche.html
- Homepage Hanseatic Bank, Wir über uns (in German) https://www.hanseaticbank.de/services/ueber-uns
- Kompany, "Archived copy". Archived from the original on 2015-04-02. Retrieved 2015-04-29.CS1 maint: archived copy as title (link)
- PDF Hanseatic Bank: Facts and Figures, Homepage Hanseatic Bank, https://www.hanseaticbank.de/content/download/1261/file/Hanseatic%20Bank_Facts%20and%20Figures_en.pdf
- Brochure, “Gute Gründe für die Hanseatic Bank” (in German)
- Hamburg local court (Amtsgericht), historic excerpt, HR B 12564, page 1 to 5.
- Hamburg local court (Amtsgericht), HR B 12564, page 1 to 4.
- Press release Hanseatic Bank, https://www.hanseaticbank.de/uploads/tx_sbdownloader/PM_Hanseatic_Bank_kontakloses_Bezahlen_01.10.2013.pdf (in German)
- Press release Hanseatic Bank https://www.hanseaticbank.de/uploads/tx_sbdownloader/PM_Hanseatic_Bank_3D-Secure_12062014.pdf (in German)