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Optimized risk assessment of airline business models for Wirecard Bank AG

The Wirecard Bank AG, affiliate of the current German stock market star Wirecard, has commissioned Lufthansa Consulting to support the leading payment provider’s bank in optimizing their internal processes and related IT systems for risk assessment and management for existing and potential new airline clients. Key objective was to better reflect the certain characteristics and challenges of the airline industry in general as well as to ensure that airline-specific key performance indicators are monitored on a regular basis via the bank’s risk evaluation process. Both will lead to a more precise assessment of airline business models and will allow Wirecard Bank to offer commercial conditions to its airline clients, which are exactly tailored to their particular needs.

Together with experts from Wirecard, the consultants have developed tools and processes to enable Wirecard Bank not only to evaluate the robustness of business models of new airline customers, but also to regularly monitor the performance as well as the outlook for existing clients. In addition, training measures were implemented to support the bank in interpreting trends in the aviation market as well as key financial performance indicators.

Overall, the initiated measures will support Wirecard to constantly improve its services for airline clients with their very specific requirements.
 

Award

Best of Consulting

Lufthansa Consulting has been awarded the coveted consultancy prize "Best of Consulting 2018" by the German weekly business news magazine WirtschaftsWoche. The aviation consultants took part in this competition for the first time and achieved their goal straight away with first place in the category “Competitive Strategy”. The award went to a project which was successfully completed with Czech Airlines (CSA), the national airline of the Czech Republic. Lufthansa Consulting and CSA jointly developed an ancillary revenue strategy and a branded fares concept. The implementation of the overall project resulted in a significant increase in ancillary revenues and thus in a positive operating profit for Czech Airlines.