Virtual bank of the new generation

Alior Bank increases net profit forecast for 2011 to PLN 150 million and prepares to launch Alior Sync – a virtual bank of the new generation

2011-11-22
In the three years since its launch, Alior Bank has secured a significant position in the Polish banking sector as a profitable, recognisable and attractive brand employing over 3,600 people, as well as managing a network of over 400 branches. By the end of this year, the Bank will serve one million customers. In 2012, Alior Bank expects to bring in a net profit of PLN 400 million and will launch Alior Sync – a virtual bank of the new generation.

Alior Bank’s net profit as of the end of 2011 will be 50% higher than it had been estimated in the business plan, amounting to PLN 150 million net. After just the first three quarters of 2011, Alior Bank has already met this year’s target, having brought in over PNL 100 million in net profit. Following the introduction of innovative products, in the last quarter the bank noted the fastest increase in the number of customers in its history to date – acquiring over 150 thousand new customers. This means that the Bank expects to serve its one-millionth customer this year. The deposit base grew with equal dynamics in 2011 with a volume already exceeding PLN 13.5 billion. At the same time, the Bank approved PLN 10 billion in loans.

2011 saw the systematic development of the Alior Bank outlet network. As of November 2011, it was serving customers in 202 regular branches, 6 Private Banking branches and 196 partner units. The Bank’s effective functioning and its top quality customer service are both ensured by over 3,600 employees with many years of experience. The Bank is planning to hire a further 150 employees by the end of this year.
Quality of service and innovation

Alior Bank’s strategy has been based on top quality customer service, as well as technological and product innovations. Alior Bank has pioneered many significant changes in the banking market, which have been replicated by other banks. In the scope of customer service quality standards, Alior Bank has become a point of reference and a model case. This is demonstrated by the fact that for three years, the Bank has been among top contenders on “Newsweek’s Friendly Bank” ranking list, winning two years in a row in the main category of “Best Retail Bank”. It was among the first banks in the world to introduce electronic tablets into customer service at branches, limiting the use of paper to a minimum and setting a new standard of service at bank outlets. The Bank has consistently extended its line of products and services with innovative solutions, inter alia it was the first bank in Poland to make ATM cash withdrawals free-of-charge both domestically and abroad, as well as offering the overnight deposit, popular among individual customers. Alior Bank’s Brokerage Office has introduced qualitative changes into the forex market, implementing the first forex platform in the ECN model in Poland, beneficial for the customers.

Thanks to the “Alior – Bills without charges” project, all Poles are offered the possibility of paying their rent, electricity and phone bills without any commission at Alior Bank branches and partner outlets. This service effectively ensures the Bank’s competitive advantage in winning new customers. Consequently, on average two and a half thousand people every day make the decision to set up an account at Alior Bank. Recently, the Bank has even offered its customers the possibility of buying (investment) gold bullion at selected branches. The demand for this service exceeded even the most extravagant expectations: in just three weeks, the Bank met the targets of a three-month sales plan.

Alior Bank brand

Success in building the “Alior Bank” brand is confirmed by the record indicators of its recognition, achieved in only 3 years of the Bank’s existence. In October of this year, prompted and spontaneous brand recognition reached an historical level of 92% and 36%, respectively. Thanks to the high effectiveness of marketing activities, Alior Bank has made its way into the coveted group of most recognisable banking brands, who have worked for their positions over span of many years with much more extensive advertising budgets at their disposal.

Plans for 2012

In 2012, Alior Bank intends to serve 1.5 million customers and bring in PLN 400 million in net profit, as well as maintain a satisfactory level of ratios: ROE at 26%, C/I at 50% and CAR at 10%. Further development of the Bank will be supported by the continuation of innovative projects for the individual customer segment and increased number of initiatives directed at business customers. The Bank also plans an intensive development of credit products for individual customers, including borrowing and instalment loans, along with further development of the distribution network. By the end of 2012, the number of partner outlets will have grown to 400, which is double compared to the current situation. The Bank will also build up its network of mobile salespeople. Additionally, new strategic projects will be implemented, allowing the bank to maintain its competitive advantage and retain top customer service standards in 2012.

Alior Sync - Virtual bank of 21st century

In 2012, Alior Bank will change the banking services market in Poland yet again. In the middle of next year, Alior Sync – the first Internet bank of the new generation – will launch its operations. It plans to acquire one million customers and over PLN 3 billion in deposits within four years from the commencement of activity.

The new project constitutes a response to the latest trends resulting from the fast development of Internet and mobile services, which current Internet banking solutions are far lagging behind.

Alior Sync will stand out in the market with its comprehensive approach to using modern technologies and devices. The Bank will offer fully virtual service and modern means of communication with the customer at a previously unknown level, for example by the creation of a fully virtual branch, complete with a wide variety of virtual and 3D options, video conversations and video chats. Moreover, Alior Sync’s innovative model of operations will ease the facilitation of the processes of offering and sales of products and services, not limited to banking, with the wide scope of use of the popularity and possibilities offered by social networks and mobile devices development.

The virtual bank’s products and services will be addressed to customers open to new technologies and innovative solutions, seeking the most effective manners of both saving and spending money. The main target group will be people aged between 20 and 35.

Alior Bank is implementing the project in cooperation with proven and experienced business partners. Hungarian company IND is responsible for transaction processing systems, while the Alior Sync portal is prepared by interactive agency Artegence. The new bank’s logo and name has been devised by advertising agency PZL.

The Bank would like to invite the best specialists and innovative companies interested in creating a unique concept of an internet bank of the new generation to participate in the project.