Omnichannel Credit Card Application and Digital Service Qorus-Infosys Finacle Banking Innovation Awards 2024

Bank Millennium has launched an omnichannel credit card application process, available in mobile and online channel. The application form registered in one channel and can be completed in another. At each stage a customer can receive support from a bank employee. The process is fully digital, all documents are available, accepted and stored online. Digital channels are today the primary point of access to banking products. Customers expect to get many things done in a few minutes, without a visit to a bank branch or additional formalities, and without paper documents. Despite the growing importance of digital channels, we are aware that there are still customers who prefer personal contact with a bank employee. We want to provide them with a consistent experience in the channel they choose. That is why we applied omnichannel approach, offering the best experience regardless of the contact channel. The process allows customer to apply for any credit card from the bank's offer, and additional services, such as insurance. User can flexibly set card parameters, e.g. repayment date. The form is divided into short steps and automatically saved in the system. The customer can resume, where they left off. The application started with a bank employee can be easily completed on the mobile app or website. If the customer starts the application online on their own, they can complete it with the helpline or branch consultant. They can also use a contextual chat. The form adapts to the offer available to the customer in real-time. If the bank assesses the customer's creditworthiness based on previous relation, the card is issued immediately (no documents needed). The card can be tokenised and used at once. If any documents are needed, user can upload them online. When the requested credit limit is too high, we do not refuse the card, but adjust the limit to the maximum value available. We do not leave our customer after selling the card, but we continue to the journey with them to offer them best experiences when using it. • The card activation, PIN setting and other details can be managed in mobile and online banking. • The card can be tokenized in the app. We offer a few virtual wallets (Google Wallet, Apple Wallet, Garmin Pay, Fitbit Pay) as well as our own in-app solution based on HCE technology. The tokenization is possible right after completing the application and agreement - even if the customer does not have a plastic card, yet. • The card can be used for online payments. We protect these transactions with 3-D Secure solution, which provides additional authorization in mobile or online banking (depending on the user access to our Mobile Authorisation service). In 2023, we also introduced a mechanism that allows online card transactions to be authorised with 3-D Secure when banking systems are unavailable. • Also in 2023, we provided a new transaction search engine, the so-called one search. It allows users to precisely define the search criteria and filters. This makes it even easier to find a transaction, even if the customer does not remember from which card or account it was ordered. • All credit card transactions can be easily split into Easy Installments. A few months ago, we added the option to split into installments the transaction that are not settled yet – which means that the customer can use this solution right after the payment. We observe that many customers are interested in this solution. Both cash and non-cash transaction can be repaid in installments. The customer can choose the number of installments: 6,12, 24 or even 48 months. Digital share in sales of Easy Installments is 98%. • We offer a free currency limit and subscription for currency package. These services allow a customer to pay in all foreign currencies at POS as well as online without bank’s exchange margin. The free of charge limit is up to equivalent of PLN 1,000, and if the customer needs more, they can easily enable the currency package in the app. The package offers a limitless currency transaction for a weekly fee. The package can be disabled at any time also in the mobile app.