Telenor Banka Qorus Banking Innovation Awards 2016

Telenor Banka, first mobile bank in the CEE region, was launched on September 10th 2014, offering daily banking needs for payments linked to current account and debit card. Following the commercial launch, an initial value proposition has been extended on regular basis, and two years after opening, it has full value proposition including credit and debit cards, device loans and cash loans. Before entering banking sector in Serbia, Telenor was present for 8 years as revenue market share leader. We assessed the market, and saw that every bank is offering same services, while the percentage of mobile banking usage was only 6%. We saw an opportunity in the mobile banking, as a telco company that has unique understanding of online business and had an opportunity to utilize telco and bank synergy. Built around customer needs, the main point that came from the research conducted prior to the Bank opening was that the most painful point for bank customers is waiting in line, complicated procedures, and losing time.. We completed the concept: Telenor Banka is bank on the go, Simple and Easy, Reliable. In the first year, use of online banking spiked 20%, whereas the number of online transactions for the first time surpassed transactions in the branches. NPS score was the highest in the banking sector, remaining until today 58 vs.28 of bank ranked second. In two years of Telenor Banka’s operations, number of mobile banking users quadrupled, while Telenor Banka celebrated its 200,000 customer in the beginning of September.