Contents Foreword Management report Corporate governance
Online identification and authentication tool: iDin
The IDIN service was co-developed by Rabobank and the
Dutch Payments Association Netherlands, along with other
participating banks in the Netherlands. Private customers
can use iDIN to identify themselves online and to login to
participating organisations. Customers use their bank's trusted
login tools to identify themselves to iDIN (for Rabobank, the
Rabo Scanner). Rather than having to remember multiple
passwords, customers can access government websites,
webshops and MyPortal pages with just one secure, familiar and
easy online login tool. Points of sale (businesses, government
organisations, etc.) can use iDIN to verify the identity of their
online clients. Authentication from the bank is valuable because
the customer's identity was already verified when they opened
an account. Since the data required by different organisations
may vary, points of sale that accept iDIN can select which details
they need and users can select which details they wish to share
with the organisations when they need to identify themselves.
A payment terminal in a smartphone: SmartPin
Rabo SmartPin represents one way that Rabobank is pioneering
rapid, efficient and modern methods of payment. The Rabo
SmartPin is an innovative solution that enables entrepreneurs
to receive debit card payments. The Rabo SmartPin consists of
a handheld card reader and an app for iOS and Android phones,
transforming small business owners' smartphones or tablets
into a payment terminal. With Rabo SmartPin entrepreneurs
can accept payments and e-mail the receipt to the client.
The Rabo SmartPin app can also process contact-free debit card
payments and displays an overview of daily turnover. Different
user profiles can be created in the app, which also makes
Rabo SmartPin suitable for larger businesses. The prospects for
growth are positive as the app has been downloaded 10,000
times and users rate it generously.
New foreign exchange hedging platform for clients: Easytrade
Easytrade is Rabobank's new foreign currency hedging
platform that went live in December 2016 after only four
months of development. The main principle of Easytrade is
to automatically hedge all foreign currency exposures by just
Consolidated Financial Statements Company Financial Statements Pillar 3
uploading the accounting records. Currently, a few clients are
engaged in a pilot in which they actually trade and provide
feedback for further improvements. Easytrade enables midcap
and largecap corporates to upload purchase and sales orders
or payables and receivables straight from their ERP system.
Easytrade will make sure that all foreign currency items are
identified and hedged automatically, applying the company's
hedging policy. After uploading orders or invoices, Easytrade
filters out the foreign currency items, the items that were
already hedged and the items with changed payment dates.
These last items will automatically be re-hedged at the new
due date. The trading of all items only takes seconds. The first
reactions from pilot clients have been very positive and
Easytrade now aims to provide the service to more Rabobank
clients and to work on continuous improvements of the
platform with them.
Digital partnerships
In 2016, we expanded our collaborations with accelerators
and start-ups to create more and better digital services for our
customers. Rabobank's success at turning collaboration with
start-ups into services for our customers has been recognised
by the Nesta organisation and the Startup Europe Partnership,
both of which are dedicated to promoting innovation. We are
now ranked as the most start-up-friendly bank and the second-
best corporate spread over all sectors on Europe's top 25
Corporate Startup Stars ranking. Our collaborative efforts aim to
achieve goals ranging from enhancing Internet of Things (IoT)
services to helping customers reduce home energy costs with
our partner's dedicated digital platform, Bleeve.nl. We can be
proud of many of our digital partnerships in 2016 and look
forward to more in 2017.
Collaborating with accelerators to tackle new areas
of expertise
Rabobank continues to expand its cooperation with start-ups
and accelerators. Our collaborations with innovative partners
have increased fivefold in the last three years. We are
experimenting with new technologies such as the use of the
blockchain and AI to increase speed, insight, or the value of
current products and services. Rabobank is a partner for many
local accelerators, such as UtrechtInc and Yes!Delft, where our
account managers meet entrepreneurs and support them in
their future plans. We also have an international collaboration
with our partner Startupbootcamp FinTech London, the leading
accelerator of start-ups that supports and scales companies that
innovate and disrupt the financial sector. In 2016, Rabobank
also agreed to partner with the Accenture FinTech Innovation
Lab Accelerator in London.
71 Our output and impact: digitalising services
