ČSOB Bank, our long term customer, has improved their services for business clients. A new ČSOB portal “Match it” has been added to the company´s portfolio, aiming to connect investors with sellers.
Currently, there are more and more companies the owners of which are planning to sell them, either due to reaching the retirement age or a need to find an investment partner. Reflecting the trend, ČSOB Bank has significantly upgraded its services for SME clients, centralizing supply and demand at one place.
The clients who decide to use the service will get the comprehensive care. A major advantage is that the bank can represent the clients during the whole selling process via the company ČSOB Advisory, providing consultancy and service when preparing a company for sale.
“We were experiencing an outstanding customer service from the very beginning. During the development phase it was obvious that the people working on the project are conceptually thinking and are not strictly limited by the project specification. Thanks to their approach, we were able to minimalize imperfections, naturally occurring during such a process. The project progressed smoothly and we evaluate the cooperation with Millennium positively,” summarized Jozef Paštrnák, Head of ČSOB Match it.
The whole process is effective and simple. Based on the expert estimates resulting from multi-year financial results, the bank informs the selling company on the estimated sales price of 100% company shares. Subsequently, the whole selling process runs directly in the app.
An investor can select a list of companies via chosen criteria. Firstly, they see anonymized offers. If the investor is interested in some of the offers, they can ask the company to provide more detailed information. The selling company considers whether the investor is interesting for them and whether they provide them more information about the company and their motivation. If it happens, the investor can send the selling company an offer and the selling company decides whether it is acceptable for them. After both companies come to a final agreement on all terms and conditions, they sign a transaction agreement.
The Millennium team covered the entire product development. Since our company itself underwent the acquisition process, we took a role of a consulting partner as well. Within the project development, there have been further discussions connected to the operation of Match it also for other banks from the KBC group.
The ČSOB Match it app has been designed according to the bank´s design manual. We used .NET and SQL Server technologies. Operation runs in Azure Cloud. Integration with FinStat web services eliminated the need to search for information in external sources and saved a lot of time in rewriting financial settlements.
If you are thinking about implementing a solution that would make your business processes more efficient, do not hesitate to contact us. We will review your requirements and suggest the optimal solution.