Flightright relies on the HCOB
Simple online legal assistance for disputes with airlines: the Potsdam-based legal tech company Flightright took off with this market innovation more than ten years ago. Thanks to the cooperation with the payment transaction professionals at Hamburg Commercial Bank, the upward trend continues unabated.
What exactly is the problem to be solved?
It all started with a major annoyance: Flightright founder Dr. Philipp Kadelbach urgently needed to catch a 2 p.m. flight. But he was told at the counter that the plane would not take off until five hours later. Much too late for the all-important preparation date for your own wedding. Without further ado, Kadelbach got himself a replacement flight for 300 euros and luckily made it in time for the priest’s blessing. However, Kadelbach had to grit his teeth against the airline, which he wanted to ask to refund for the massive delay.
Flight hassle: high success rate for professional claimants
This frustrating experience was the birth of Flightright: since its foundation at the beginning of 2010, the company, which now has around 160 employees, has been campaigning for the rights of air travelers who have been bounced and held back. According to Flightright, it has already paid out 350 million euros in the past twelve years. According to the company, the success rate in the legal skirmishes with the airlines fought by in-house lawyers is “99 percent success rate in court”.
Receive compensation directly without risk
with this legal tech offering, the long-established Potsdam-based start-up is revolutionizing legal advice in Germany. Flightright offers digital, uncomplicated and transparent legal assistance via fast communication channels – without any cost risk for consumers. If the claim is successful – and this is the vast majority of cases – the consumer receives the compensation amount minus a commission of usually 20 to 30 percent for Flightright. All passengers have to do is spend a few minutes filling in an online form with all the necessary personal details and information about the flight they are complaining about. Flightright then takes care of the rest of the legal aspects.
Legal tech: revolution for the legal industry
The self-programmed database contains more than 80 million data records, which are updated daily: Strikes, weather information, new legal rulings and flight data from all over Europe. The database recognizes within seconds whether a passenger is entitled to compensation. The customer only sees the input screen of the compensation calculator.
CEO Dr. Jan-Frederik Arnold: “With automation, we have revolutionized the legal industry and are enabling air travellers to assert compensation claims through us with a significantly higher chance of success than against the major airlines alone or with a traditional lawyer. In addition, clients only pay us if we are successful – a model that does not exist in traditional legal representation. As legal tech, we are therefore a disruptive alternative to the traditional legal profession.
As lean as the processes are for the complaining air travelers, the processes in the background are just as demanding and complex. Flightright relies on the expertise of Hamburg Commercial Bank for the highly efficient processing of transactions. “The custody fee limits are tailored to the liquidity needs of the company. The experts at Hamburg Commercial Bank also provide support with legal and compliance requirements,” says Martin Wiedemann, Senior Vice President in the Cash Management Sales division at Hamburg Commercial Bank. Flightright Managing Director Arnold adds: “We really appreciate this partnership of equals. Such a high degree of flexibility and HCOB’s customized solutions are something I’ve only seen in the particularly progressive fintech sector. ” And the distances between Potsdam and Hamburg are so short that no plane has to take off (late) in the first place.
“The custody fee limits are adapted to Flightright’s liquidity requirements. We also provide support with legal and compliance requirements.”
Martin Wiedemann, Senior Vice President in the Cash Management Sales division at Hamburg Commercial Bank
The future of payment transactions
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Martin Wiedemann
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