Misys FusionBanking

“With online banking services from Misys, Banca Transilvania’s market share has shot up from 5% to almost 9% – an 80% increase.”Marius FloreE‑Delivery Channels ManagerBanca Transilvania

Case study

Banca Transilvania boosts market share by 80% in four years

About Banca TransilvaniaBased 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 challengeTo 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 solutionTo 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 resultThe 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

“Since launching Misys FusionBanking Essence Online, our online banking services have become extremely easy to use, with rapid customer adoption.”Marius FloreE‑Delivery Channels ManagerBanca Transilvania

At a glance

Products

• Misys FusionBanking Essence Online

• Misys FusionBanking Essence Mobile

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 FloreE‑Delivery Channels ManagerBanca Transilvania

The challengeFounded in 1994 by a group of business people from Cluj‑Napoca, Banca Transilvania has grown to become one of the largest banks in Romania.

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.

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.

The solutionBanca Transilvania chose to transform its digital channels, and selected Misys FusionBanking Essence solutions to provide the new online services.

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.

“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’.

“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.”

With FusionBanking Essence, Banca Transilvania has enabled transfers through Facebook profiles, helping to attract new‑generation customers and grow market share

Driving innovationAs 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.

“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.

“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.

“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.”

3Misys FusionBanking | Banca Transilvania

The resultWith 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.”

“With Misys FusionBanking Essence Online, customers became more active on the online platform ‑ it has become our most important sales channel.”

Marius FloreE‑Delivery Channels ManagerBanca Transilvania

With Misys solutions in place, Banca Transilvania has seen its mobile banking customer base grow threefold in just four years.

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.

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