Financial Health in Corporate Banking Qorus Banking Innovation Awards 2022 - Winner

As an integrated part of ERSTE's strategy to become a financial health company, we are significantly upgrading our digital solutions to offer our customers a fully digital assessment of their current financial situation. We are introducing a tool which will be integrated into the newly launched George Business (digital banking for corporate customers) which transparently displays financial information to our customers. We want to open up the "black box" which has often been in place between banks and customers with respect to how we see our customers. From now on we openly and transparently - as the first bank - show and explain the rating to our customers through our financial health feature. We address and point out the areas where they need to improve and we compare them to similar companies within their industry. We also make a general financial health assessment and point out where they are healthy and where they need to pay attention. With this tool we want to underline to our customers that we are here to support them and we can be a partner and support them to be a financially healthy company. We follow the following principles: IMPROVE TRANSPARENCY We will always be transparent and share information we have available and be open towards our customers INCREASE FINANCIAL UNDERSTANDING We will help the customers to better understand their financial situation, where they are performing well and where they need to improve IDENTIFY IMPROVEMENT AREAS We will guide them towards how they can improve the financial health of their company SOLUTIONS WHICH HAS A POSITIVE IMPACT FOR THE COMPANY We will offer solutions which has a positive impact on the financial health of the company We went live to the Croatian market as a pilot. Together with our customers we further refined and improved the product, and now we are ready for a Group-wide launch, starting with Austria (and then followed by CZ, RO, SK, RS, HU). The feedback from the customers has so far been excellent.