At the beginning of the pandemic we focused on the one hand on maintaining the continuity of client service and on the other on reacting to our clients’ new needs connected with the changed situation relating to their business. Due to concerns for the safety of employees and clients direct contacts in the form of meetings were reduced, nevertheless the banking service was conducted to the full extent in all locations. Relationship managers, product specialists and corporate service consultants intensified in that period their contacts with clients through electronic and telephone channels, ensuring the continuity of support and banking service, as well as actively informing about assistance programmes for corporates.
Already in early April there was introduced the possibility of using a qualified electronic signature for agreements, applications and certificates relating to loan agreements and security agreements, transactional banking, factoring, trade finance and treasury products. A remote and safe circulation of bank documents was thus provided, allowing both parties to avoid potential problems with transferring paper-based documents. In Q4 2020 43% of agreements were signed with the use of an electronic signature. In parallel we observed a rise in the use of remote channels in the full scope of their functionality. The number of Millenet users went up by 12.2% and of mobile application users by 15.8%. The number of additional bank accounts opened by our clients on their own in the internet application went up in 2Q20 to 87%, and the number of cards issued remotely is at the level of 50% and cash management applications 60%. There was also growing client interest in using electronic orders to issue a guarantee and open an L/C with the use of the online trade finance platform achieving the level of 90%. The volume of transactions processed on the Forex Trader platform went up by 41% and exceeded at the end of the year PLN1 billion a month.
The number of entrepreneurs using the services of automatic integration of financial and accounting systems with Millenet Link, the bank’s transactional system, grew five times. Accounting departments are provided with clear benefits, such as automatic (no need for logging into the banking system) feeding the accounting system with data on operations booked on accounts: loading statements of account, as well as downloading histories of operations at any time of a day or updating a balance.