In the third quarter of 2024, Serbian citizens concluded 84,961 financial contracts without visiting a bank, marking a twofold increase compared to the same period last year. The National Bank of Serbia announced that this was the highest number of remote contracts signed in a single quarter since the 2018 adoption of the Law on the Protection of Users of Financial Services in Distance Contracting.
Of the total contracts, 16,590 were finalized using video identification, which is required when a user engages with a bank for the first time. This category saw a remarkable increase of 122.5% compared to Q3 2023.
Meanwhile, 68,371 contracts were concluded electronically, where customers already had an established relationship with the financial institution and were seeking additional services. This method also saw a strong 90.7% growth year-over-year.
In terms of financial products, citizens increasingly turned to remote contracting for a wide range of services in Q3 2024. Notable growth was observed in payment accounts (up 239%), demand and term savings services (up 205%), overdraft facilities (up 99%), other services (up 81%), and cash loans (up 55%) compared to the same period in 2023.
The benefits of remote contracting are clear: users save time by avoiding bank visits and enjoy the convenience of quickly concluding contracts for desired financial services.
