Romanian banks invested EUR 200 mln in digitization last year

Romanian banks invested last year over EUR 200 mln in process automation, amid the pandemic. As a result, 60% of them offer full-online services, including account opening, compared to 25% in 2019, according to a FinnoScore report compiled by the consulting company Horváth.

According to the report, the best performing banks in Romania, from the perspective of the degree of digitalization, are Banca Transilvania, ING Bank, Libra Bank, BCR and Raiffeisen Bank.

CEC Bank had the highest growth compared to 2019 of all the banks analyzed, almost doubling its score in 2020. This jump is mainly due to the recent implementation of the online onboarding process for new customers.

"The pandemic has boosted the digitalization of the banking system internationally, but in countries like Romania, with a low starting base, the effect was much more obvious", explained consulting company’s representative Iulia Malioukis, Bursa.ro reported.

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