UniCredit Bulbank is expanding online banking services

Prior to accountants, they went to the banks every day, and now a large part of the operations are happening remotely. Thus describes the development of online customer services in recent years, highly stimulated by the pandemic, Tsvetanka Mincheva, Chief Executive Director of UniCredit Bulbank.

Like a number of other businesses and banks, the platforms that business and citizens can bank from a distance have greatly developed over the last few years. According to Mincheva, the basis of innovation is business services, which needs many more operations, which then develop for citizens.

According to the bank, 98% of the transactions pass online, or BGN 219 billion – just more than the GDP of Bulgaria for 2024. The growth per year is 13%. Translated over the past year online are 4 million salaries. Every fifth repayment on a revolving loan also goes online.

A total of 50 are developed to help the business. The bank indicates that 60% of its tax revenue is coming from business.

By the end of the month, the bank will release more online services to its corporate clients, which, according to its data, are about 125,000. The latest digital instrument will allow companies to compare their financial results for 5 years with their competitors, using the aggregated data that will be available on the platform. They will cover the data of all about 350,000 companies that they submit to the Commercial Register.

Among the popular digital services in the business is the analysis of consumer behavior, whereby it is possible to compare the prices of the products of competitors, using again aggregated data through card payments from customers. They cover data for about 6 million cards per month.