In fact, he stated that TBI, a bank for which Bulgaria and Romania are key markets, is using technologies that Goldman Sachs also employs to open the relationship with Apple cardholders.
TBI Bank took the Romania market by surprise 3 years ago when it introduced a video identification solution to grant product loans on important e-commerce platforms.
If the video experience was not so comfortable for customers initially, the biometrics have simplified the CX a lot.
Due to biometrics and KYC technologies, the customers can get a product loan directly from the online store and wait for approval of the credit while running the shopping cart checkout. TBI Bank's CEO explained that a recurring customer could receive an approval even in 20 seconds, while the waiting time could be longer for new clients. The total time until the purchased product is financed depends on the Fiscal Authority database's verification, but the average is around 2-3 minutes.
Petr Baron became CEO at the age of 26 and has witnessed some of the most profound transformations in the banking industry. He has run different financial institutions for more than 14 years, and he realized that banking is about mindset and empowering people.
Baron points out that he's being inspired by Fintechs like Klarna, Affirm, Afterpay, and BigTechs because these are rich in "entrepreneurial mindset."