2019 Financial
and Social Report

Innovation and highest quality of positive customer experience

The quality of customer service is one of Bank Millennium’s fundamental values: it is the DNA of the organization and an important element of its competitive advantage. Effective merger with Euro Bank was the key priority in the quality area in 2019. A focus study conducted in the spring this year showed that the Millennium and Euro Bank brands are perceived as similar, among others in respect to their contemporary nature and convenience of services.

Therefore, we have made every effort to ensure that the integration of the banks, including their different banking systems, goes smoothly and without being notice and that, after the migration, all customers of the merged bank (including the new ones) log in as usual, without surprises, quickly and conveniently. The goal of most of the activities in the quality area were aimed at unifying service standards and implementing the best practices of both banks in all points of contact (including the combined branch network).

In November 2019, the IT infrastructure and the banking application ecosystem were merged and all the Euro Bank customers were transferred to the Millennium electronic banking system. We were committed to carry out the migration of customers and products efficiently and online only. The electronic channel activation process had been prepared in a user-friendly form of a migration wizard, which automated as many actions as possible. With this tool, Euro Bank customers were able, for example, to log into Millenet using their previous login. They also received full information about the new system in an accessible form of personalized videos, which made it easier to make their first steps in the new electronic banking environment. They were also able to use the chat function to ask about details and request assistance when in doubt.

The process created in the migration wizard was simple, consisted of just one stage and had an intuitive customer experience layer. In just a few days it helped activate about 200 thousand clients with a nearly 100% conversion rate. The success was made possible by the Bank’s technological advancement, perfect preparation (a detailed action plan for the operational merger date contained more than 3,000 tasks) and customer focus – putting customer needs and satisfaction first. In order to understand the needs of Euro Bank customers and dispel any concerns related to the change, the Bank conducted a number of interviews and studies to test how they assess Millennium products and services. Their responses were positive.

The main purpose of all the activities, which were undertaken not only in connection with the bank merger project, was continuous care for the highest quality positive customer experience. We believe that, in this day of universal digitization and rapid development in technology, the success of a company is decided by its ability to build long-term, solid and trust-based relationships with customers.

The customers notice and appreciate it. In the December study of customer behaviours and preferences by consulting firm Bain & Company, Bank Millennium received the highest NPS ratio among Polish banks, describing the propensity of customers to recommend services to acquaintances. In the 2019 Banking Stars competition, we stood on the podium thrice, among others winning the “Customer Relations” category and receiving the title of a “Customer Relations Star”. In the TOP 100 brands ranking developed by KPMG, we became the “Customer Experience” leader in the Polish financial sector and we were ranked among the top ten of the one hundred best rated brands in Poland. According to the results of the internal customer satisfaction survey conducted in Q3 2019, 93% retail customers were satisfied with the cooperation with us. We were also the most frequently recommended bank in Poland, with loyalty at the highest NPS indicator measured on the market of 52 (“2019 Bank Customer Satisfaction Monitor”, ARC Rynek i Opinia).

As one of the quality leaders in remote customer service, the Bank champions an individual approach to each customer. For that purpose, it uses advanced analytical tools, also based on artificial intelligence, appropriate “matching” of a consultant to the assigned customer, anticipation of customer expectation, but mainly focuses on the professionalism and engagement of employees. The Bank has in place innovative digital solutions that allow Bank employees to be continuously available to customers – when necessary, customers may use assistance of the Bank’s consultants 24 hours a day, through phone, chat or mail. It is the customer that chooses the most convenient contact channel and through each of them the Bank provides quick and comprehensive assistance in a single contact session.

When working on modern products and continuous improvement of the services it proposes, the Bank places great emphasis on the adaptation of solutions also to the expectations of its employees. This is why, in 2019, to a greater extent than in previous years, it carried out research projects aimed at listening to their voice and engaging first-line employees in designing pro-consumer solutions.

The Bank continued its business model based on continuing digitization and development of mobile services. It increased the share of digital channels in acquisition and product sales. In order to meet the expectations of the customers who want to have everything at hand, preferably in one application, the Bank expanded the offer by adding several services from outside its core business. Without leveraging the digitization potential to the fullest extent, the record organic growth and the successful integration with Euro Bank would not be possible.

The Bank has been intensively developing its strategic growth pillars in electronic channels, including lending processes and access to investment products. In the Internet banking system and the mobile application, among others it introduced the option of filing applications for credit products on a 24/7 basis and using promotional offers. Additionally, both in Millenet and in the mobile application, customers are now able to consolidate the loans held in Millenet (except for the pre-approval offer), as a result of which they can now pay a single instalment rather than several. The processes of purchasing motor insurance and opening a corporate account for sole proprietorships were also optimized.

The intensive increase in sales of products and services through electronic banking channels was visible in the most important product groups, where 53% of cash loans and 90% of term deposits were sold online in 2019, but also in non-banking products and services. Sales of city transport tickets increased by 50% y/y, mobile prepaid credits by 21% y/y, BLIK transactions by 99% and the number of HCE cards by 362% annually (HCE is a technology enabling contactless card payments through a telephone).

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