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Banca Transilvania

New business banking app

Discover how Finshape developed BT Go, helping 39,000 SMEs streamline banking, process 150,000+ transactions, and drive financial growth.

digital-asset-management 1

Customer base

3.7 million (3.3 million retail and 390,000 business accounts)

building 1

Portfolio

SME, Corporate banking, retail banking

market-positioning 1

Market share

Over 16% (in terms of assets), largest bank in Romania

The challenge:

Building a solution that caters to businesses' specific banking needs and wants

Banca Transilvania known as a digital pioneer in the retail banking arena, an image that the bank has carefully curated through continued investment in innovation and platform modernisation. On the corporate banking side, however, the picture was quite different.

By 2020, it had become evident that the same digital banking solutions that made retail customers' financial lives easier fell short when it came to businesses.

More specifically, their need for an application that underpins the way they go about money management in both design and function. Think: at-a-glance overview of finances, handling all business debit and credit cards in one place as well as automated, digitalised invoicing and financial documentation.

The solution:

Developing BT Go, an application designed for SME banking, from the ground up

Following a survey among Banca Transilvania's corporate banking customers, which gave upper management valuable feedback on key areas for improvement, the decision was reached to build a digital business banking solution from scratch.

As in, not to take a retail banking application and dress it up as a corporate one, a practice industry players often resort to in lieu of purpose-built solutions and know-how to create one.

The main project objective was to win over new corporate banking customers and secure the loyalty of existing ones by leveraging technology innovation and agile practices as well as by tapping the open banking opportunity.

The result:

Growing user adoption and new paths for innovation and growth

In the first month of the release, some 39,000 businesses started actively using BT Go to make over 150,000 transactions and issue 2000 invoices.

One in seven transfers were initiated to pay incoming invoices.

Among the less quantifiable but equally important benefits of the newly launched application is the way it strengthens Banca Transilvania's position as a forward-thinking financial institution that supports business of all sizes and at all stages of growth.

Tapping into open banking, it also creates an opportunity for the bank to develop new technology partnerships, data-driven sales and business models as well as new streams of revenue.

BT_go_02

Impact in Numbers in the First 3 Months

25,000

active users

157,000

nr. of payments

39,000

enrolled companies

An Exclusive Interview

Raul Risnita

Digitization Director at Banca Transilvania

Banca Transilvania logo

Read the full client story

Banca Transilvania builds app from scratch to make businesses’ financial lives easier.

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