New at BAWAG P.S.K.: the "Full online loan"

  • BAWAG P.S.K. is now offering existing and potential customers video identification for online loans


Vienna, 17 May 2017 – BAWAG P.S.K. has taken another important step in the expansion and refinement of its innovative digital product and service offerings that create substantial added benefits for its customers. 

When applying for a “Einfach Online Kredit” loan on the BAWAG P.S.K. website, customers can now also identify themselves by video using a system that has been used successfully for opening new accounts since January 2017. This turns the “Einfach Online Kredit” loan into a “Full online loan”, because it can be applied for entirely digitally – conveniently at any time and wherever the customer is – with no processing fee, with a term of up to 120 months, and with a variable interest rate depending on the customer’s credit rating.

Full online loan application

After selecting the loan amount and term in the online application on the BAWAG P.S.K. website, the customer then enters his or her personal information. The system then runs a credit check. The customer is immediately told whether the application will likely be accepted or declined. Then, the customer can upload the required documents and choose an identification process. The loan documents themselves are also now signed with a certified mobile phone signature, another new feature. If the customer does not yet use the mobile phone signature function, he or she can sign up for it conveniently as part of the loan application. If the loan application is approved, the requested amount is transferred to the customer’s account in a short time. This is the fastest and most convenient way ever to apply for a loan online.

Video identification saves customers a trip to the post office or bank as was necessary for identification in the past, thus providing them with higher convenience and significant time savings. This new service aligns perfectly with the bank’s strategy of making financial tasks as easy as possible for their customers.

Marcus Kapun, Head of the Digital Banking at BAWAG P.S.K., explained: “We are pleased to be able to introduce a further innovative service for our customers in the form of video identification for loan applications, a function which was already well received and used frequently for the opening of current accounts. This is another facet of BAWAG P.S.K.’s strategy of digitizing the entire process chain for taking out a loan, making the procedure as convenient as possible for the customer.”

Fast and dynamic – the expansion of BAWAG P.S.K.’s digital offerings

BAWAG P.S.K. has introduced a number of outstanding services over the past months and has more innovative surprises in store that will create substantial added value for its customers. The focus in this is on forward-looking, seamless and mobile solutions.

  • In autumn 2016, the security app set an innovation focus on security in digital payment transactions. This is Austria’s most secure payment method and also offers its users an immediate overview of their financial transactions.
  • Since November 2016, BAWAG P.S.K. has enabled its customers to switch to a BAWAG P.S.K. current account entirely digitally through its cooperation with the FinTech company FinReach. The free switch service can be used in less than 10 minutes on a single internet platform and saves the customers a great deal of time and effort.
  • In the field of identification and proof of identity by video, BAWAG P.S.K. is collaborating with the market leader and patent holder WebID Austria GmbH. The video identification process allows customers’ identities to be verified via a direct link to the WebID site. This eliminates a trip to the post office or bank branch that would otherwise be necessary so the customer can prove his or her identity.
  • Most recently, BAWAG P.S.K. concluded a cooperation agreement with the Austrian FinTech company baningo. Potential and current customers can quickly and conveniently search for the best suited BAWAG P.S.K. advisor for their needs in their area through the platform, which uses a sophisticated advice matching system. Consumers can also contact this advisor directly through the platform.

“Happy hour” for the “Einfach Online Kredit” loan

Our customers can take advantage of a special offer in the next weeks. During the “happy hour”, which is just one hour long, special terms apply to new applications for online loans at BAWAG P.S.K. that are definitely worth going for.

When the “happy hour” takes place and what the specific offer is will be announced shortly before they go into effect. Anyone who is interested can register online for a reminder service to be informed of the “happy hour” by e-mail or text message.




BAWAG Group Communications

Tel: +43 (0) 5 99 05-31210