Ten years after entering the Romanian market, Dutch bank ING has decided to make its entry onto the natural persons services sector, as well. And, to make up for the time it lost to the competition, it is betting on state-of-the-art technological solutions that replace the traditional bank branch with two intelligent machines, allowing the bank to gain extensive territorial coverage quickly and cost-efficiently.
"It is true that we have a handicap, because, after ten years, the market sees us as a corporate bank. However, we are confident that we shall change this perception through fast-paced expansion. In one and a half years we believe we'll be operating the market's third-largest network," Paul Prodan, deputy general manager at ING Bank in charge of the project's development said yesterday, during the opening of the first ING Office.
The concept behind Self'Bank, a first for the Romanian market, means the client no longer has to stand in line, waiting for a teller to carry out the desired operations. Payment of bills, money transfers from one account to another (or to another bank), cash withdrawals, financial statements - it can all be done through two electronic terminals by following a set of easy-to-understand instructions, which guide the user through every step of the operation. No paperwork, no signatures, just a numeric identification code.
Misu Negritoiu, deputy general manager of ING Bank, says there will be more than 50 such locations by yearend. According to the initial target, 75 such units were to be opened, but expansion was delayed by the formalities entailed by renting the necessary spaces. In the next two months, 25 locations will become operational in Bucharest, Timisoara, Brasov and Constanta.
The project represented the only real rapid expansion option on the retail market and the only approach allowing the bank to remain among the top players, after ING decided to reject the possibility of an acquisition.
According to the general manager of ING Romania, Dick Serbruyns, the investment is worth several million euros.
But what exactly can the ING machines do?
The ATM deals with the cash operations: not only withdrawals, as in the case of traditional ATMs, but also deposits. The machine has a drawer where the bills have to be introduced without using an envelope. They can be introduced in any order and can have various denominations, except for 10,000 ROL and 2,000 ROL. Moreover, the machine, unlike other ATMs, accepts the 1,000,000 ROL banknote.
However, the real novelty is the other machine, the Multimat. This deals with banking account operations, which do not involve the use of cash - such as transfers from an ING account to an account opened at any other bank in Romania. This is done by punching in the respective account number. The machine can also handle the exchange of foreign currency between accounts. The same machine enables clients to pay their mobile and fixed telephone bills, as well as gas and electricity bills, insurance premiums and other taxes. If necessary, assistance is available through a direct telephone line that connects the client with a bank employee.
razvan.voican@zf.ro
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