Financial and
ESG report 2020

Innovative services

Bank Millennium’s digital channels provide easy access to banking services and many options beyond banking. To provide further convenient and helpful solutions, the Bank is constantly expanding its offering available through its mobile application and the Internet banking system.

The Bank’s efforts are guided by the idea of making clients’ lives better and easier every day. The website, the Millenet Internet banking system and the mobile application are designed with the users in mind and together with them, following the spirit of Human-Centred Design. The Bank’s interface should be friendly, offer convenient options and any contact with the Bank should build a positive and personalized customer experience. The UX, UI and Electronic Channel Communication teams are responsible for designing services aligned with clients’ expectations and needs. As one of the first in the market, more than 10 years ago, the Bank created the User-Experience Lab, where a team of researchers works with users testing processes and interface of digital channels, conducting surveys, etc. The Bank wants to prove that there are no actual barriers to accessing its services and no user group should feel excluded. Millennium clients spend more and more time in the digital space and they expect the Bank to keep pace with them and offer new and better online services.  

Banking during a pandemic has shown that the Bank, like the industry as a whole, by developing digital services had already prepared in advance to operate in quarantine conditions. The global epidemic triggered additional mobilization. Innovation and further digitalization of customer contact was no longer an “impulse for acceleration” – it became necessary to serve customers at all. The PSD2 directive created an opportunity to introduce services that did not previously exist in the market. The Bank took advantage of the potential of open banking and gave its customers remote control of their finances in one place by implementing and continuously developing PSD2-compliant open banking services.  

In 2020, many new functionalities were introduced in electronic banking, mobile application and branches. What should be emphasized is the great commitment of branch employees to digital education of clients and active promotion of electronic banking. Below is the list of new features and facilities implemented in 2020.  

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Daily online banking and self-service

Bank Millennium thoroughly revamped a few of its most popular services and introduced new online solutions and services. During the pandemic it additionally strengthened client education and support activities focused on the use of online channels. Branch services were supplemented by elements featuring electronic channels (authorization of transactions through the mobile app) which helped reduce paper consumption and during the pandemic it additionally offered a more user-friendly and faster process. Digitalization activities are part of the Bank’s strategy and its employees (with the help of Digital Ambassadors) support digitally customers in starting to use their bank account via computer or smartphone. The same goal was pursued by the “First step online” campaign carried out in the Bank’s branches and on its website.   

The Bank has introduced changes, which sped up the process of making payments. The transfer form has been simplified to three fields and the amount of data needed to be entered has been reduced to a minimum. After the recipient is selected, transaction details are filled in automatically. 

In response to clients’ expectations, the maximum daily transaction limits in Millenet and the mobile application were doubled. Individual and Business clients can, on their own, set the Main Limit up to PLN 200 thousand and the Mobile Limit up to PLN 20 thousand. 

The Bank extended the time of processing operations during night hours: internal transfers ordered in those hours are credited to the specified accounts immediately and external transfers are accounted for on an ongoing basis. Opening and closing of bank deposits and investment products can also be seen immediately in the account.  

This is an extremely important step in the process of digitizing the Bank’s operations and limiting paper documentation. A client with an active Mobile Authorization is able to approve some transaction by using the Bank’s mobile application.  

Bank Millennium has allowed new clients to open a personal account whereby the client’s identity is confirmed on the basis of a photograph of the client’s ID document and a selfie. The account is opened in a few minutes without the need to contact a consultant or print any documents.  

To help clients as much as possible to log into the account, the website now has in place a process of safe recovery of log in details for the Internet banking system (login and password).  

In Millenet and in the mobile application, the client may check the progress of the submitted mortgage loan application at any time. Additionally, clients receive notifications each time the application status changes. The Bank has also implemented an add-on for the mobile app, which allows individuals that are not clients to view the application (also through a broker).  

Based on the omnichannel approach, the Bank refreshed the process of applying for cash loan products. Additional funds may be requested through any service channel, fully remotely or online with support from a call center or branch employee. Moreover, the solution has modern and intuitive design in mobile and Internet banking. 

Starting this year, clients are able to purchase the Millennium Investment program or open a structured deposit from a computer, tablet or phone. Both processes feature a MIFID questionnaire, which can also be filled out online.  

The Bank has implemented a new platform that is fully integrated with the customer service system in the Contact Center. The change will have a positive effect on the work of consultants, who will gain additional tools, among others for advanced management of the ticket queue.  

Development of open banking services

In accordance with the strategy of building a finance management platform in digital channels, after the EU PSD 2 Directive became effective, the Bank offered clients a fuller view on and even better control of their finances. From the beginning of 2020, it gradually implemented additional services using the potential of open banking. 

Bank Millennium is among the first banks in Poland to provide clients with a service that enables adding accounts kept by other banks its own electronic banking. By using this service, clients may aggregate an account in the mobile app or on the Millenet website and, by logging into the Bank Millennium account, check their account balance and transaction history for their accounts in as many as nine major Polish banks.  

Bank Millennium was the first bank in Poland to provide a service, in which clients can order transfers from their accounts in other banks through Millenet. The service currently supports six major banks. 

The Bank launched a multi-channel service, which allows clients applying for a loan in the online banking system and in the mobile app to confirm their income by logging into another bank. The service currently supports accounts held with nine major banks. 

The Bank has made opening a My Biznes business account considerably easier for individuals running sole proprietorships (who are not the Bank’s clients). In order to confirm their identity, they can just log in to their account at another bank. The solution currently supports six Polish banks. This is the first such application of open banking for Business clients. Additionally, filling out the application is partially automatic since data are downloaded from the central register CEIDG. The bank’s clients can also open a business account easily through electronic channels. 

Cooperation with public administration

Bank Millennium has been cooperating with government agencies for years and has contributed to building a digital society and popularizing e-government services. In the year of the pandemic, projects carried out jointly with the public administration were particularly important for both individual customers and those in the corporate segment. 

The Bank assisted in the distribution of funds from the Polish Development Fund’s subsidy for companies suffering from the COVID-19 pandemic. The entire application process was available in Millenet and Millenet for Corporates. For more details, see Chapter II. MILLENNIUM IN THE AGE OF CORONAVIRUS. 

The service is available to customers using Polish ID cards. To ensure data quality, the banking system communicates directly with public administration systems. This means that clients and the bank are certain that the data have been keyed in correctly. 

On the PUE ZUS platform, which also can be accessed through the Millenet system, clients can collect a travel voucher to be used for holiday trips and other purposes. To log into the platform, MilleUrząd and then PUE ZUS should be selected from the menu. 

Additional services

The Bank strives to make its electronic channels, in particular the mobile application, into a platform aggregating various functions making life easier every day. This is why it provides clients with additional services, which go the banking only area. 

Directly in the mobile app, Bank’s clients can see the repertoire of the nearest Helios cinema, read descriptions of movies and then select a movie and seats, buy and pay for tickets (the price is charged to the account or a credit card). Purchased tickets can be presented to the cinema staff in the application – there is no need to download or print them. Purchased tickets can also be shared with others (sent directly from the banking app).  

Starting in November, mobile application users can go directly from the application to the goodie shopping platform and conveniently use numerous promotions, as well as receive refunds for online purchases through the goodie cashback service. This is another step in the development of the banking app as a convenient center for managing daily business.

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