
Digital Transformation at Erste Group: “Our clients go digital and so do we”

The banking industry is being disrupted by global digitalisation. “The environment in which we are operating has changed dramatically throughout the past years. Our competitors today are not only banks but smart, fast-reacting fintech start-ups around the globe that want to grab a share of our business,” says Peter Bosek, retail board member at Erste Group. Furthermore, there is increasing demand of clients who want to do their banking whenever and wherever they are. In all CEE countries with Erste Group’s presence the number of clients using digital channels to do their banking increased substantially and this trend is expected to continue. Although these markets are at different stages in terms of digital transformation, already more than every second client in Austria, Czech Republic and Slovakia uses digital banking. As clients want to use smart and quick solutions with an appealing and user-friendly interface, Erste Group as a leading bank in the CEE-region took the challenge as an opportunity to go for the new. Three years ago, Erste kicked off probably the largest change and innovation process in its history and created an in-house start-up called Erste Hub. “We decided to start innovating from inside out because we believe that this is the best way how we can change our corporate culture. With Erste Hub, we able to substantially shorten the time-to-market of a new product, which is traditionally the biggest challenge for large banks,” explains Bosek.
“Our Erste Hub is a creative unit where we are mixing the best minds from various backgrounds and get them from inside and outside the bank,” adds Boris Marte, Head of Erste’s innovation kitchen. Besides a variety of already implemented and established applications to make clients’ financial life simpler and easier, the largest innovation that has been created by Erste Hub and launched by Erste Bank on the Austrian market at the beginning of 2015 is
Peter Bosek together with Boris Marte and Maurizio Poletto, Head of Design at Erste Hub, presented Erste’s way of digital transformation at the
The banking industry is being disrupted by global digitalisation. “The environment in which we are operating has changed dramatically throughout the past years. Our competitors today are not only banks but smart, fast-reacting fintech start-ups around the globe that want to grab a share of our business,” says Peter Bosek, retail board member at Erste Group. Furthermore, there is increasing demand of clients who want to do their banking whenever and wherever they are. In all CEE countries with Erste Group’s presence the number of clients using digital channels to do their banking increased substantially and this trend is expected to continue. Although these markets are at different stages in terms of digital transformation, already more than every second client in Austria, Czech Republic and Slovakia uses digital banking. As clients want to use smart and quick solutions with an appealing and user-friendly interface, Erste Group as a leading bank in the CEE-region took the challenge as an opportunity to go for the new. Three years ago, Erste kicked off probably the largest change and innovation process in its history and created an in-house start-up called Erste Hub. “We decided to start innovating from inside out because we believe that this is the best way how we can change our corporate culture. With Erste Hub, we able to substantially shorten the time-to-market of a new product, which is traditionally the biggest challenge for large banks,” explains Bosek.
“Our Erste Hub is a creative unit where we are mixing the best minds from various backgrounds and get them from inside and outside the bank,” adds Boris Marte, Head of Erste’s innovation kitchen. Besides a variety of already implemented and established applications to make clients’ financial life simpler and easier, the largest innovation that has been created by Erste Hub and launched by Erste Bank on the Austrian market at the beginning of 2015 is
Peter Bosek together with Boris Marte and Maurizio Poletto, Head of Design at Erste Hub, presented Erste’s way of digital transformation at the

PDF (1021 KB) | 17/07/2016 |