Misys Case Study

Case study
Banca Transilvania boosts market
share by 80% in four years
“With online banking
services from Misys,
Banca Transilvania’s
market share has shot
up from 5% to almost
9% – an 80%
increase.”
Marius Flore
E‑Delivery Channels Manager
Banca Transilvania
Misys FusionBanking
At a glance
Products
••Misys FusionBanking Essence Online
••Misys FusionBanking Essence Mobile
About Banca Transilvania
Based in Cluj-Napoca, Banca Transilvania is one of Romania’s largest banks, with
approximately 1.8 million clients. The bank is growing fast, and was named “Best
Bank in Romania” by Global Finance magazine in the “World’s Best Emerging
Markets Banks in Central & Eastern Europe 2014” category – based on growth in
assets, profitability, strategic relationships and innovative products.
The challenge
“Since launching Misys
FusionBanking Essence
Online, our online banking
services have become
extremely easy to use, with
rapid customer adoption.”
Marius Flore
E‑Delivery Channels Manager
Banca Transilvania
To boost its domestic market share and accelerate growth, Banca Transilvania
wanted to acquire new customers. With demand for anytime, anywhere banking
services on the rise and the popularity of in-branch banking services waning, the
bank realised that its existing digital banking applications were not working as an
effective sales channel for Romania’s highly mobile and connected consumers.
The solution
To accelerate its growth from the outside-in, Banca Transilvania deployed Misys
FusionBanking Essence for Online and Mobile Banking – transforming its retail
banking with new digital channels. Equipped with next-generation digital
solutions, the bank now offers a slick sales channel and a compelling,
differentiated customer experience.
The result
The bank is now able to attract and retain new customers with modern, dynamic
banking applications that can be designed and deployed very rapidly, once again
placing Banca Transilvania at the leading edge of customer service. The bank’s
market share has risen from 5% to 9%, and continues to grow.
www.bancatransilvania.ro
2
Misys FusionBanking | Banca Transilvania
“Our partnership with Misys
is a strategic and powerful
one, and it continues to add
value to the business.”
Marius Flore
E‑Delivery Channels Manager
Banca Transilvania
With FusionBanking Essence, Banca Transilvania has
enabled transfers through Facebook profiles, helping to
attract new-generation customers and grow market share
The challenge
The solution
Driving innovation
Founded in 1994 by a group of business
people from Cluj‑Napoca, Banca
Transilvania has grown to become one
of the largest banks in Romania.
Banca Transilvania chose to transform
its digital channels, and selected Misys
FusionBanking Essence solutions to
provide the new online services.
Operating in a highly competitive retail
banking marketplace, Banca
Transilvania wanted to boost its market
share by winning new business, and
increase share-of-wallet by more
effectively marketing innovative
banking products to its existing
customers.
Marius Flore comments, “We chose
Misys because we found that Misys
FusionBanking Essence Online
included innovative functionalities
which were not present in other
banks in the Romanian market.
As a challenger bank, Banca
Transilvania places particular
focus on new technology and
innovation, while at the same time
ensuring that it meets security,
governance and regulatory issues.
With mobile connectivity via
smartphones and tablets becoming
commonplace and the popularity of
in-branch banking services in decline
across Romania, the bank recognised
that offering a wider range of products
and services online was a major
opportunity for growth. Using digital
channels to transform its retail banking
presence is what Misys calls ‘outside-in’
transformation.
As Marius Flore, E‑Delivery Channels
Manager at Banca Transilvania,
explains, achieving online
transformation posed a number of
challenges: “The previous transactional
internet banking application had many
limitations. Customers could not view
their card activity, see their card history
nor modify the spend limit on their
cards. Customers with loans could not
see the loan repayment schedules, and
the most important functionality
missing from the old platform was the
lack of mobile optimisation.”
To achieve both rapid growth and to
roll out mobile and digital banking
solutions, the bank sought a completely
new approach.
“We found Misys to be a very good
partner to develop interesting
products for our customers,
mainly focused on retail and SME
customers,” says Marius Flores.
“Additionally, Misys FusionBanking
Essence Mobile is a very powerful
solution that acts as a driver for our
new-generation customers, which we
are marketing as ‘your bank in your
pocket, from Banca Transilvania’.
“The Misys Innovation Labs - a part
of Misys which focuses purely on
disruptive innovation - always bring
us new ideas, and we frequently
perform proof-of-concept exercises
to determine which ideas will help
us to engage more closely with our
customers. I think this approach is
one of the reasons why our customer
satisfaction scores are so high.
“From a mobile perspective, we
aim to be the best in the business
for our customers. Technology
moves so fast on tablets and
smartphones, and as a bank we need
to be very close to the technology.
We were the first bank in Romania
to provide customers with a mobile
application to perform very quick and
convenient banking operations.”
Banca Transilvania based its
selection of Misys on innovation and
performance criteria, enabling the bank
to develop new customer services
as rapidly as possible to attract more
accounts and gain market share.
As Marius Flore remarks, “Last year
we launched the most innovative
online banking facility yet: Facebook
payments. With this capability,
customers can simply transfer money
using their Facebook profile.”
“Another very powerful project with
the Misys team was to integrate Misys
FusionBanking Essence with Western
Union operations. Our customers
can complete transfer transactions
via Western Union, with direct
access to their personal accounts.”
Misys FusionBanking Essence also
helps the bank to tighten online
security. Marius Flores explains:
“Using the SMS OTP authentication
method with Misys FusionBanking
Essence Online, we have reduced
phishing and malware attacks to
almost zero in the last two years. This
is a big benefit for our customers’
security, and enables the bank to focus
more on business development.”
Misys FusionBanking | Banca Transilvania
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With Misys solutions in place, Banca Transilvania
has seen its mobile banking customer base grow
threefold in just four years.
“With Misys FusionBanking
Essence Online, customers
became more active on the
online platform - it has
become our most important
sales channel.”
Marius Flore
E‑Delivery Channels Manager
Banca Transilvania
The result
With Misys next-generation digital
banking solutions in place, Banca
Transilvania has seen its mobile
banking customer base grow
threefold within just four years. Today,
the bank serves more than three
million online banking customers.
“We found that with Misys
FusionBanking Essence Online,
customers became more active
on the online platform - it has
become our most important sales
channel,” remarks Marius Flore.
“From the beginning, we added new
online functionalities. Customers can
now see their loan-repayment schedule
activities and available balances,
manage their cards, and more.
“For example, if you are an internet
banking customer you can very
easily adopt the mobile solution
without any presence in-branch;
you simply request the product
online and use it immediately.
“Another example is the SMS select
product, which gives you the power to
manage the money in your account,
with an SMS report of your transactions
the moment that they are performed.”
As well as enabling a slew of new
products and services, FusionBanking
Essence Online allows bank staff to
focus on sales and customer service
rather than administration tasks –
helping to increase share-of-wallet.
“Since launching Misys FusionBanking
Essence Online, our online banking
services have become extremely
easy to use, with rapid customer
adoption. Our brand image has
definitely been boosted as a
result,” comments Marius Flore.
“Our partnership with Misys is a
strategic and powerful one, and
it continues to add value to the
business. The Misys team always
keeps us up to date with the
latest developments to our Misys
FusionBanking solutions, which helps
us to improve our service offering to
our customers across Romania.”
Marius Flore concludes, “Banca
Transilvania’s Misys FusionBanking
Essence solutions have been
a launch pad for growth.
“With online banking services from
Misys, Banca Transilvania’s market
share has shot up from 5% to almost
9% – an 80% increase. We are now one
of the five largest banks in Romania,
and we are well placed to continue
our rapid growth going forward.”
About Misys
Misys is at the forefront of the financial software industry, providing the broadest portfolio of banking,
capital markets, investment management and risk solutions available on the market. With more than
2,000 customers in 130 countries our team of domain experts, combined with our partner eco-system,
have an unparalleled ability to address industry requirements at both a global and local level. We connect
systems, collect data and create intelligent information to drive smarter business decisions. To learn
more about how our Fusion software portfolio can deliver a holistic view of your operations, and help
you to solve your most complex challenges, please visit misys.com and follow us @MisysFS on Twitter.
Misys and the Misys ‘globe’ mark are trade marks of the Misys group companies.
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