Hanseatic Bank

Hanseatic Bank

Type	GmbH & Co. KG
Industry	Banking, Financial services
Founded	1969
Headquarters	Bramfelder Chaussee 101, 22177 Hamburg, Germany
Area served	Germany
Key people	Michel Billon (managing director) Detlef Zell (managing director)
Products	Consumer credit - Credit cards, personal loans Deposit - asset management Insurance Factoring - receivables management
Net income	€25.1 million[1] (2015)
Total equity	€193 million[2] (2015)
Number of employees	over 400
Website	www.hanseaticbank.de

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 400 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]

History

Hanseatic Bank was founded in 1969 as a consumer credit institution to finance goods purchased by customers of the mail order firm Otto Versand.^[5] At the time, the bank was operating under the name Hanseatic Bank Teilzahlungsfinanzierungs-GmbH & Co KG.^[6] In 1976, it was converted into a chartered universal bank.^[7]

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.

Present and former managing directors

The managing directors of Hanseatic Bank: Detlef Zell and Michel Billon

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]

Business philosophy and commitment

Hanseatic Bank focuses on five core values that are lived internally and externally. These values are: responsibility, competence, team spirit, work-life balance and creativity.

The bank has been awarded the seal of quality "TÜV Service tested" by TÜV Saarland four times (2009-2012).^[13] In the years 2013^[14] and 2015,^[15] Hanseatic Bank participated in the competition "Hamburg's Best Employers" and was awarded the corresponding label both times.

For five years, Hanseatic Bank has been supporting the nationwide active association Herzenswünsche e.V., which grants seriously ill children and young people their greatest wish.^[16] In 2014, the bank also donated to "Rennrad-Nord.de - Bike for SMA 2014".^[17]

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