BK01 – developed 60 years ago, made for the future

For 100 years, we have looked for innovative, forward-looking solutions with added value for our clients. As far back as 60 years ago, we developed a solution that has been setting standards in the German housing industry ever since. It has the unassuming name of BK01.

60 years old and still keeping pace with the times: the "bank account 1", or BK01 for short. Its aim was to offer computerised payment processing for housing enterprises, making the process considerably faster and more economical – a revolution at that time. To this day, it remains a unique success story and an example of successful process digitalisation. You could also say it was a "fintech innovation" long before fintechs were around.

A pioneer in the German banking sector

We were the first German bank to offer an electronic information system that allowed the German housing industry to process data centrally, externally and without complications, making us a pioneer in Germany's banking sector.

However, we not only successfully introduced BK01 technology to the market, we have also continuously expanded it. In addition to the electronic processing of accounting records, tenant accounting and account management, we developed a solution for overall processing of payment transactions. This brought huge relief to the housing industry, as up to that point, all remittance slips had to be individually checked, items laboriously reconciled and each individual transfer processed by hand. This resulted in large numbers of individual entries in different sub-accounts and a great deal of effort and inefficiency. The solution sounds simple: allocation of payments via a virtual BK01 account number.

A virtual BK01 account number as a key

In concrete terms, our clients in the housing industry not only have a bank account with us, but also virtual account numbers that are assigned to this account. This has ensured for decades that transfers received and other payment flows are automatically allocated to the right tenant account, and has achieved this with an allocation rate of almost 100 per cent. Today, virtual account numbers are well-established and state-of-the-art – one reason why many in the sector regard us as the innovator on the market.

However, BK01 is not an isolated solution that requires a large amount of effort to implement. Instead, it is integrated into the leading ERP systems in the housing and property industry and is a permanent component in the release planning of ERP providers. That means that BK01 is the interface between the bank account system and business software. With that in mind, we have continuously extended it with additional features. As well as the "virtual account number" and the high degree of allocation accuracy, further sub-processes that are important to housing enterprises have been added, all of which are also automated. They include correspondence when there is a change of tenant, deposit management and outgoing payment flows such as payments to energy providers. Our digital solutions also offer benefits for the environment as well as time and cost savings and efficiency gains. For example, digital IT and banking services reduce paper consumption, since archiving, correspondence and other administrative services are performed online.

Continuing a success story

Today, over 4,000 clients with around 8 million rental units under management use BK01 to manage their housing stocks. More than 140 million customer entries are handled each year for housing enterprises, cooperatives, third-party managers, asset and property managers and energy companies using BK01 and Aareal Bank AG's account management system.

Your contact persons

Press team
Send email

Yannick Houdard

Yannick Houdard
+49 611 348 2462
+49 171 226 7155
Send E-mail