With the digital transformation of Serbia to the growth and development of the economy, News
The previous year brought new and unexpected challenges to society and the economy, which put health preservation in the forefront, while digital business was recognized as one of the primary tools for achieving the global goal. The new situation, accompanied by the previously existing trend of accelerated growth and development of information technologies, has resulted in a digital transformation that has spread intensively to almost all aspects of life and business, while in the domestic market perhaps the most improvements are in banking and finance.
Digitization is changing the traditional way of doing business and in that sense it is a complex and demanding process that implies significant efforts and investments. However, the benefits of implementing digital business are almost immeasurable because they erase the boundaries that accompanied analog business. There is an improvement in products and services, but also in the way we consume them: local markets are merging into national ones, while geographical positioning is no longer a crucial factor in the availability of services.
Digitization of banking refers not only to the possibility of fast payments and simple management of funds using the electronic banking system, but also to access to other products outside the premises of banks. Through various initiatives, the National Bank of Serbia has contributed to the development and implementation of modern financial tools and accelerated the development of digital banking by creating a regulatory framework and infrastructure. This was followed by the creation of several contactless payment channels, e-wallets were developed which can be accessed via smartphones, direct on-boarding was enabled, ie the possibility of registering clients in the database without physical presence but by identification via video call; the option of quick lending to citizens without the need to come to branches has been developed, and other improvements are planned.
The set of products and services that digitalization “brought” or shaped in the domain of banking primarily benefits customers, to whom the bank is available 24 hours a day, 7 days a week, regardless of where they are. Innovative and quality services are performed safely and easily, in just a few clicks, while communication with the bank is direct and fast. On the other hand, banks can commit to developing more attractive products and improving the user experience by anticipating market needs, which will result in further fostering healthy competition and the development of the banking market as a whole.
ALTA banka a.d. Belgrade has intensified investments in the digitalization of business and we will soon present to clients completely new electronic banking platforms, which will be accessible to both individuals (via smartphones or computers) and legal entities. These advanced platforms allow us to further develop digital products whose distribution we plan this year, which will further bring us closer to customers and respond to their increasingly sophisticated requirements. When developing the digital segment, we focused on data security, process simplicity and product competitiveness. Our clients will have access to payment services using IPS QR technology, application for products without coming to the Bank’s branch, management of savings and credit accounts through the electronic banking system as well as the option of approving online loans.
Although digitalization facilitates and accelerates financial operations, a number of clients want to continue using banking services in the traditional way. Recognizing and respecting all the needs of our clients, ALTA Bank plans to open new, modern branches in which we will be able to offer fast, simple and attractive products and services, Bonitet reports.