Serbia’s AIK Banka, working as an impartial, full-fledged financial institution since 1976, prides itself on creating progressive options that allow it to resolve purchasers’ monetary wants across the clock. Using omnichannel and phygitalfashions, AIK Banka has constructed up a community of branches outfitted to fulfill clients’ selections any time of the day or evening with 24/7 Zones offering multifunctional automated teller machines and sensible safes. By automating routine transactions, workers are freed as much as assist clients uncover their greatest avenues to success. The financial institution continues to develop its on-line and cellular capabilities by means of its eBanking and mBanking channels in order that clients can financial institution at any time when they should wherever they’re. The pandemic has accelerated the financial institution’s inevitable digitalization and prompted workers to study to work successfully from their house workplaces to satisfy their clients’ necessities for dependable and environment friendly banking providers. AIK Banka’s attain extends outdoors of Serbia. It was the primary Serbian financial institution to achieve a foothold within the European Union and has elevated its ambit by means of acquisitions, reminiscent of Slovenia’s Gorenjska banka and Greece’s Alpha Financial institution (later renamed Jubanka). The financial institution can be actively aiding its communities, particularly by supporting youngsters and households.
Worldwide Banker was capable of compensate for AIK Banka’s progress in realizing its purpose of being a dependable and progressive companion to its clients and communities by interviewing Ms. Jelena Galić, chair of the financial institution’s board of administrators.
Welcome, Ms. Galić, and thanks in your time at present….
Would you say that the pandemic and ensuing lockdowns have accelerated the financial institution’s digital-transformation technique, and, if that’s the case, are you able to present any particular examples? Additionally, are you anticipating the foremost shift in buyer utilization of digital banking because of the pandemic to be everlasting?
Digitalization is an ongoing course of. We’re always witnessing technological developments that push banks and different industries, in addition to regulators, to adapt. I’m assured that we might have reached this stage of digital improvement anyway, however the pandemic positively influenced the timeline. As a result of well being dangers all of us confronted, individuals had been extra desperate to undertake the concept of cellular banking, for instance. Cellular funds, on-line loans and account openings are all processes that had been pushed by the pandemic state of affairs but in addition enabled by regulation. We don’t anticipate buyer utilization of digital banking to be reversed because it provides appreciable consolation for the end-user. It saves money and time, and individuals are conscious of those advantages. It’s mirrored in numbers, as nicely, the place we are able to see ongoing constructive development traits on a month-to-month foundation for the previous two years. Because the finish of 2019, the variety of our mBanking customers has elevated by 400 % and continues to develop.
AIK Banka mBanking Channel which permits clients to financial institution at any time when and wherever.
What has been the one most difficult facet for AIK Banka up to now in coping with COVID-19? And the way have you ever endeavoured to beat this problem?
It was the general state of affairs that made us change the best way we operated, nevertheless it was additionally a superb instance for the long run. Earlier than the disaster, it was unthinkable that the financial institution may perform from the house workplace, nevertheless it has proven us that we’re extra versatile than we thought. If I’ve to single out essentially the most difficult facet, it will be defending the well being of purchasers and workers. It was each a social and enterprise duty. We tailored to the brand new actuality and launched measures to mitigate well being dangers. The extent of digitalization inside the financial institution achieved previous to the pandemic positively helped since our purchasers had the required instruments to make use of of their on a regular basis transactions, stopping pointless contact.
The financial institution’s phygital idea sounds significantly fascinating. Please briefly clarify what precisely this idea entails?
The digital business-transformation technique led to the adoption of the omnichannel and phygital (bodily/digital) idea and enterprise fashions, which implies that we’re at our purchasers’ disposal 24/7 by means of a community of branches outfitted with multifunctional gadgets. As well as, there are the digital channels of cellular and net banking, by means of which the financial institution’s purchasers can apply and obtain approval for varied credit score and deposit merchandise. We launched the idea of a digital department as nicely, providing purchasers direct on-line contact with our advisors. On this method, purchasers can get pleasure from the advantages of monetary advising with out leaving their houses. The advisory function of banks is changing into crucially essential for the reason that transactional sphere of banking is slowly being changed by fintech (monetary know-how) corporations and digital platforms, providing purchasers extra management over their budgets. The phygital idea provides variety for purchasers by offering a bodily department when wanted and digital banking at any time when and wherever. Despite the fact that we all the time emphasize some great benefits of digital, we’re conscious that some clients want face-to-face conversations in an effort to be suggested and resolve on some essential monetary matter, and we want to maintain this as an possibility in the intervening time. On this sense, phygital means banking in accordance with the shopper’s preferences.
A part of the financial institution’s digital-transformation technique has concerned a big growth of its sub-brand Financial institution 24/7, introducing a community of multifunctional ATMs (automated teller machines) and sensible safes that allow purchasers to make use of state-of-the-art providers and options to carry out nearly all of their banking transactions inside specified zones of AIK Banka’s branches. How happy have you ever been with this explicit growth up to now? And the way difficult have social-distancing restrictions been to the profitable functioning of such department zones?
AIK Banka 24/7 Zones with multifunctional automated teller machines and sensible safes.
24/7 Zones supply multifunctional ATMs and sensible safes with the principle objective of guaranteeing the fixed availability of money transactions to our purchasers, that are nonetheless a big a part of the general transactions in native economies on this area. On this sense, the 24/7 Zones have helped social distancing since there was no want for purchasers (each retail and SME [small and medium-sized enterprise]) to attend in line to finish a transaction that can not be carried out on-line. Purchasers are not depending on the working hours of the department, which minimizes queuing. By combining the 2, the 24/7 Zone and the digital platform, we’re additionally enhancing the standard of our providers within the department. Our advisers are actually targeted on listening, advising and discovering a personalised resolution for every shopper as a substitute of performing mechanical transactions, which are actually automated. The roles of workers have modified in addition to the standard of service.
We now have seen a variety of views in latest months from banks worldwide on making workers return to the workplace. What’s your view? Ought to workers more and more be within the workplace as a lot as attainable, or are you cheerful to broaden the variety of hours workers can work remotely on a extra everlasting foundation?
The state of affairs with the pandemic gave us all a priceless lesson on flexibility. We managed the unthinkable, and it functioned. This influenced corporations—not solely within the banking sector however throughout industries—to undertake the house workplace as a brand new actuality. Alternatively, working within the workplace hurries up processes, builds groups, evokes workers to work collectively and share concepts and experiences higher than distant work. The underside line is that the selection doesn’t depend upon private preferences however the healthcare state of affairs and actual wants.
The small and medium-sized enterprise (SME) sector in Serbia is especially essential and has been considerably impacted by the pandemic. What key measures has the financial institution taken to assist this sector throughout this era? And what, if any, have been the financial institution’s most essential latest digitalization efforts to assist SMEs?
This disaster just isn’t typical, characterised by an absence of demand. Quite the opposite, demand has existed out there, and the issue has been provide, which has had sure limitations because of restrictions taken to protect public well being. The state took measures to mitigate the shock that each one SMEs went by means of by lowering the reference charge, introducing a moratorium and providing assure schemes in cooperation with banks. AIK Banka supported all these measures and actively participated in all of the applications accessible to assist SME purchasers, guaranteeing their stability throughout the pandemic. Digitalization additionally performed an essential function, enabling the provision of funds and financial institution providers 24/7 in real-time. The variety of on-line transactions throughout 2020 featured a development of 39 % in comparison with the earlier yr and 37 % in 2021 in comparison with 2020.
By way of the financial institution’s dedication to company social duty (CSR), what has been essentially the most vital method by which AIK Banka has supported native communities during the last yr or so?
AIK Banka, Headquarters in Belgrade, Serbia
In 2020, AIK Banka donated greater than 330,000 euros to the Nationwide Well being Insurance coverage Fund of the Republic of Serbia to buy medical tools. On this method, by means of the assist of all of us, the capacities of the well being system have been strengthened, offering the potential of quicker reactions within the remedy of sufferers with extra extreme scientific footage. Nonetheless, the spine of our enterprise and CSR actions are youngsters and households since we consider that investing in youthful generations and offering higher circumstances for his or her improvement means investing in a greater future. Historically, AIK Banka organizes its Household Assist program by which subsidies are awarded to workers who grew to become mother and father throughout the present yr. Over the course of this initiative, AIK Banka and the MK Group have donated greater than 600,000 euros to 620 households and greater than 1,000 youngsters. In 2021, this program was considerably expanded to enhance the circumstances by which a brand new life is born, not solely in Serbia but in addition within the area. On this method, we needed to instigate regional initiatives and intensify the significance of youth if we need to guarantee a sustainable future. Along with the MK Group, AIK Banka donated to maternity hospitals in Serbia, Bosnia and Herzegovina, Montenegro, Croatia and Slovenia. The worth of this donation exceeded 700,000 euros.
AIK Banka has additionally proven its assist for the household by means of cooperation with SOS Kids’s Villages Serbia, a corporation that works to enhance the standard of life of kids and younger individuals with out parental care—empowering households in danger, fostering the financial independence of younger individuals from susceptible teams and offering every kind of assist for marginalized classes. We’re additionally pleased with our cooperation with the organizations Be Humane and NURDOR to supply assist for youngsters and oldsters in moments once they need assistance essentially the most, in addition to cooperation with the Serbian Philanthropy Discussion board and the Coalition for Charity, the actions of which we repeatedly assist.
Particularly with respect to additional digitalisation, what are the financial institution’s key targets over the following couple of years? Are there any thrilling digital-banking merchandise and/or providers which can be being rolled out within the close to future that you simply want to spotlight?
We’re persevering with with the identical technique. So as to sustain with the requirements we set, we are going to proceed investing in digital providers. Resulting from market traits, we’re focusing extra on cellular, increasing the scope of providers and merchandise accessible on this platform but in addition enabling further functionalities through the use of the high-end know-how accessible, in addition to the newest traits relating to UI (consumer interface) and UX (consumer expertise). Our purpose is to be acknowledged as a regional chief in digital banking by providing state-of-the-art technological options, high-quality providers and merchandise oriented in direction of purchasers’ wants.
We now have seen a number of waves of the coronavirus already, prolonging lockdowns and delaying financial recoveries world wide, together with throughout Europe. Would you say that the financial institution is now adequately ready for any additional breakouts or new strains of the virus?
I’m assured that we’re, although we are able to by no means say we’re one hundred pc prepared for one thing which will come sooner or later and doesn’t depend upon us primarily. We’re not resistant to the virus, and, subsequently, nobody will be ready or cautious sufficient. In the course of the earlier two years, the world confronted a disaster that affected each particular person on the planet, both due to imposed restrictions or well being issues, however all of us felt it. As a accountable group, we are going to proceed to assist the communities by which we function, in addition to our purchasers of their day-to-day banking actions. We’re doing our greatest to be a dependable companion and provides again to society as a lot as we are able to. This can be our purpose sooner or later as nicely.
AIK Banka has been exceptionally profitable in assembly its purchasers’ monetary wants. Thanks once more for answering my questions.