Mobile banking insights from mBank

by The Financial Brand

As the #1 mobile banking provider in Poland, mBank continues to innovate and be recognized by evaluation organizations worldwide such as Finovate, Forrester, TechCrunch and others. I interviewed Michał Panowicz, mBank’s Director of Marketing and business development of retail banking to get a perspective on mBank’s success.

by. Jim Marous

In Poland, mBank already is the #1 mobile banking provider by a large margin, with 724 thousand customers logging into any type of mobile banking service at least once a month in Q4 2013. This gives mBank a strong 29% market share.

First versions of mBank’s mobile application were started in 2011 and by February 2014 were installed on 446k devices. These apps provided information access to nearly all customer’s products and allowed money transfer transactions and mobile deposits. Even in a “Mobile Banking 1.0” transactional format, the application was deemed as the most comprehensive from a functionality perspective in Poland as underscored by being number one in customer installs.

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Work on the new mBank platform lasted for 14 months and was carried out by a 200-person team. Acceptance by customers has exceeded expectations and new functionality is introduced regularly, allowing the mBank mobile product to maintain its high ranking in Poland, Europe and worldwide.

The following is an exclusive interview I had with Michał Panowicz, mBank’s Director of Marketing and business development of retail banking on the innovation that helps define mBank.

 

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