BCR: 1.8 million customers actively use George, the first intelligent banking in Romania, with almost 300 functions introduced, 5 years after its launch

The first intelligent banking platform in Romania celebrates 5 years since its launch, during which it experienced a development of functionalities and, in parallel, an increase in the number of active users, at an unprecedented rate in the banking industry in Romania.

Thus, around 300 functionalities and options have been introduced since the launch in late October 2018, and 2.25 million people have access in 2023 to the George digital ecosystem.

Of these, 1.8 million have already become active users of the George app. In fact, George continues to enjoy the highest rating of a bank in Romania in the Google Play and AppStore stores, a level he has maintained constantly over the last few years.

Dana Dima, vice president Retail & Private Banking BCR: “The first 5 years of George were an extraordinary journey for us and for our customers! There are years in which we worked intensively, innovated, experimented, and even made mistakes, but in which we managed to build an ecosystem of financial and related services, with many absolute firsts for banking in Romania. From the first account opening without going to the bank, to the first loan for personal needs and the first home financing 100% online, to the first income insurance and the first digital Pillar 3 private pension, if I were to recall just a few of the firsts , George permanently changed the rules of the game. Processes and flows that, until a certain point, seemed impossible to achieve 100% digitally, were put into the digital environment by my colleagues in the retail team and BCR’s digital labs, whom I would like to thank for their effort, ideas and dedication from everything during this time. We are proud that people appreciate us, especially when we see that the adoption and satisfaction rates remain high every year. George’s beautiful story continues in Romania, and our promise to our customers is that, in the next 5 years, we will continue to simplify and enjoy their lives.”

Currently, 75% of all BCR products for individuals (current account opening, mortgage and consumer loans, savings account, deposits, insurance and investment products) are granted on a 100% digital flow, and in 2023 there was an increase of 80% for products sold digitally compared to 2022.

Here are some other key figures about George’s performance over the last 5 years:

• 680,000 individual customers, as well as 11,000 companies, opened a 100% digital current account;
• 800,000 savings products opened by individuals via George, as well as 13,000 deposits established by companies; 99% of savings accounts and over 76% of deposits are now open on 100% digital flow;
• 430,000 loans for individuals, as well as 3,500 financing for companies, granted digitally through George; 86% of new loans for personal needs granted to individuals in 2023 were granted on a 100% digital flow, compared to 74% in 2022;
• 450,000 digital loan repayments; over 66% of all anticipated repayments are currently made on a 100% digital flow, directly in George;
• 580,000 card top-ups, operated annually through the platform, with approximately 600 million lei added;
• 630,000 individual customers and 1,500 companies updated their data online in just 4 minutes;
• 350,000 digital insurances, contracted through the platform; in 2023, 77% of all BCR protection and insurance products were purchased on a 100% digital flow, direct from George, up 49% from the first nine months of 2022;
• 115,000 digital contracts and investment transactions, via digital flow; • 1.2 million PINs and cards, digitally reproduced in the last year alone, as well as 370,000 cards reproduced online in George;
• 88% of all credit cards and 87% of all overdraft products were granted in 2023 on a 100% digital flow;
• 60,000 accounts for children and teenagers, opened 100% online, only 2 months after the launch of George Junior;
• 1.1 million customers receive money back through the George Moneyback cashback system, over 21 million lei being thus returned to their accounts;
• George has become an open-banking landmark, with approximately 20 strategic partnerships being operated through the platform for the benefit of clients, with a portfolio of special offers in different areas: Health (MedLife, Regina Maria), Cyber Security (Bitdefender), Digital Solutions (Trans Sped digital signature for individuals and companies), Mobility (Splash, BCR Leasing), Services (Edenred), Online Payments (Global Payments), Leasing (Financiar Auto, Equipment), Telecommunications (Vodafone), Billing solutions (Banqup – the administration, invoicing and electronic payment platform for entrepreneurs) and Consulting and Business Services (Regnet – which offers the possibility of setting up and changing company status online);
• George account can now be opened, on a 100% digital flow, from the Lidl Plus and Kaufland applications, thanks to open banking partnerships.
• Approximately 140,000 companies are enrolled in George, which ensures an integrated offer of digital onboarding, multiple fully digital financing solutions (revolving or installment credit facilities) and Multiprofile (simple process through which the user who has a personal and business account George uses the same platform to log in);
• In 2023, more than 70% of eligible legal entity customers opened their relationship with the bank through digital onboarding, and almost 80% of standard credit lines for micro-enterprise customers were granted through Digital Overdraft.

As a result of these successful performances through the George digital ecosystem, BCR is ranked 3rd in the international top of the most competitive banks from a digitalization perspective, according to the latest FinnoScore banking report, which analyzed 234 commercial banks from 24 European countries and North America.