Carding Forum
Professional
PaySpace Magazine highlighted the main reasons why more and more Ukrainians are becoming users of mobile banks.
While conventional banks are closing their branches, the popularity of their digital competitors is only growing. Unlike traditional banks, neobanks do not have physical branches. They offer banking services to customers on mobile phones or through other digital platforms. The consumer likes this format. According to Grand View Research , the global market for non-banking services was estimated at $ 34.77 billion in 2020. It is expected to increase by 47.7% from 2021 to 2028.
And yet why is the popularity of mobile banking growing? PaySpace Magazine has found an explanation.
Top 10 reasons to fall in love with mobile banking:
Card processing speed
It is much easier to become a client of a mobile bank. It is enough to download the application, photograph the documents and fill out the application form. This process takes no more than 10 minutes. The card itself can be delivered by a courier, for example, on a bicycle, as is practiced in a sportbank. Or you can pick it up yourself at the point of issue.
Customer oriented service.
No need to go to the department for a certificate, an extract - no paperwork! All emerging issues can be resolved 24/7 using messengers Facebook, Telegram, and Viber.
Security.
Personal data protection in the digital bank comes first. For this, banks use advanced technologies. For example, there is no desktop version in sportbank. Therefore, your account is available only to you and only from your smartphone.
Simplicity and convenience of the application
The mobile bank application is fast. Combined with a user-friendly interface, it saves you time. Get a loan, open a deposit - all in two clicks.
Access to all banking products.
All banking services are available to customers of mobile banks. For example, in sportbank you can use a credit limit of up to UAH 100 thousand with a grace period of up to 120 days. That is, for four whole months you do not pay interest on the use of money. All subsequent grace periods are up to 62 days.
Opportunity to earn.
Spending less on consumer goods is one of the trends of our time. In this sense, neobanks have more to offer than regular banks. So, in sportbank you can return up to 20% of the amount spent on goods. Cashback is credited to your own and even credit funds. In addition, mobile bank customers receive bonuses for bringing a friend to the bank. For example, in sportbank for each activated card you can get from 55 to 105 UAH, as well as 55 UAH - for a friend.
A wide range of advanced options.
Neobank can provide higher quality standard services. For example, with the sportbank "Backpack" savings account, which operates in the current account mode, you can not only accumulate funds at 7% per annum, but also set goals and set up several auto-top-up methods. It is important that the sportbank pays interest on a weekly basis on Friday. For example, suppose you dream of a new sports bike. To do this, in the sportbank application, indicate the purpose - its cost, as well as the method of replenishment - independently or automatically. There are different options for auto-replenishment: transfer 1, 2, 5 or 10 percent from each purchase or receipt on the card, or write off a certain amount from the account on a specific day of each month.
In addition, you can activate the rounding of the balance to UAH 100. If you actively use the card, you can save about UAH 1000 and even more per month. If these funds are not spent, then it will be possible to collect an additional 500-1500 hryvnia, which will help you get closer to the goal!
Sports community.
Regular banks rarely make an effort to unite people around important values and ideas. But not mobile banks. Sportbank actively promotes sports and helps Ukrainians to lead an active lifestyle. First of all, this is a guaranteed 10% cashback on purchases and services in the "Sports" category. Further - discounts on participation in large-scale Run Ukraine marathons, DYKA GONKA obstacle races and Iron Way triathlon competitions. Sportbank also distributes free subscriptions to Sport Life for transactions. Details can be found on the bank's website.
In-app promotions that traditional banks rarely agree with or don't offer at all.
Mobile banks are more likely to make promotional offers to their customers. For example, a sportbank client can purchase a Bagland backpack and get a quarter of the price back or a 25% discount on a subscription to the Sport & Spa fitness center network and the like.
Providing Convenient Digital Features.
Unlike conventional banks, neobanks help to avoid the inconveniences that everyone faces in everyday life. Let's say that all of us are annoyed by the situation when the waiter counts a collective dinner in a restaurant for one check. Then someone pays for everyone, while others with a calculator calculate how much they should return to a friend. The sportbank has a Split Account function that allows you to split a shared check in a restaurant, cafe, gym and the like. The amount can be distributed among 20 participants. The application shows payment statistics. In addition, the application automatically sends a push with reminders, which is very helpful for those who are uncomfortable talking with friends about debt.
Another example. Remember this unpleasant feeling when you urgently need to make a payment on public transport, and someone nearby looks into your smartphone. In sportbank, you can turn on the "Incognito" mode and hide confidential information. It is also convenient when you need to reset the transaction confirmation screen, and you do not sketch your balance in Photoshop. Another useful feature of this mobile bank is Hidden Transactions. With its help, you can easily edit your own activity feed, for example, hide an unsuccessful or unnecessary transaction.
It is more profitable to build neobanks - bankers.
The modern business world is increasingly moving away from building cumbersome and costly projects, tending to flexibility in responding to the needs of the client. Neobank is just such a business.
“A mobile bank requires less investment in terms of a banking project: no need to build a presence network, invest in a branch, etc.,” Denis Saprykin, CEO of sportbank, said in an interview.
Basically, the business model of a mobile bank does not differ from those that build traditional ones: some earn on commissions, others on loans.
“Our business model is in line with the latter,” Saprykin continued. - We focus on lending with one difference: the mobile bank is cost effective. We do not have branches, an army of employees, etc., so we can give more cashback and other offers. "
Providing quick access to credit resources is a task that the banks we are used to do poorly today.
“It's no secret that financial companies are now taking a piece of the pie in terms of retail lending from banks,” says the CEO of sportbank. - Banks are not so active and aggressive in lending, and the products they have are not convenient, plus they are rather conservative in terms of risk management. Therefore, it is not so easy for a client to get a normal loan from a bank. "
Sportbank is convinced that all processes, especially those related to lending, must be fine-tuned. Therefore, the team has completely automated the process of issuing cards - from registration to delivery, than ordinary banks, through the procedure of registration, authentication and offline card issuance, cannot boast.
However, the secret of the success of neobanks, say the co-founders of sportbank, lies in the ability to unite people around common ideas.
“We pay a lot of attention to it [the community], because we understand that in the modern world, clients have a need for common interests,” says Denis Saprykin. - Now in Ukraine, a very popular topic of sports. Therefore, we want to create a community where you can get additional motivation to move towards your goals."
The provision of banking and financial services in the Sportbank mobile application is ensured by TAScombank JSC, which operates in the regulatory field of the NBU and on the basis of a banking license. NBU license No. 84 dated 10/25/2011. State registration No. 45 dated 21.10.1991.
Loans to the Sportbank account are subject to the following conditions: maximum loan amount - UAH 100,000; maximum loan term - on demand; real annual interest rate from 0.00001% to 121.77% (depends on the selected conditions).
While conventional banks are closing their branches, the popularity of their digital competitors is only growing. Unlike traditional banks, neobanks do not have physical branches. They offer banking services to customers on mobile phones or through other digital platforms. The consumer likes this format. According to Grand View Research , the global market for non-banking services was estimated at $ 34.77 billion in 2020. It is expected to increase by 47.7% from 2021 to 2028.
And yet why is the popularity of mobile banking growing? PaySpace Magazine has found an explanation.
Top 10 reasons to fall in love with mobile banking:
Card processing speed
It is much easier to become a client of a mobile bank. It is enough to download the application, photograph the documents and fill out the application form. This process takes no more than 10 minutes. The card itself can be delivered by a courier, for example, on a bicycle, as is practiced in a sportbank. Or you can pick it up yourself at the point of issue.
Customer oriented service.
No need to go to the department for a certificate, an extract - no paperwork! All emerging issues can be resolved 24/7 using messengers Facebook, Telegram, and Viber.
Security.
Personal data protection in the digital bank comes first. For this, banks use advanced technologies. For example, there is no desktop version in sportbank. Therefore, your account is available only to you and only from your smartphone.
Simplicity and convenience of the application
The mobile bank application is fast. Combined with a user-friendly interface, it saves you time. Get a loan, open a deposit - all in two clicks.
Access to all banking products.
All banking services are available to customers of mobile banks. For example, in sportbank you can use a credit limit of up to UAH 100 thousand with a grace period of up to 120 days. That is, for four whole months you do not pay interest on the use of money. All subsequent grace periods are up to 62 days.
Opportunity to earn.
Spending less on consumer goods is one of the trends of our time. In this sense, neobanks have more to offer than regular banks. So, in sportbank you can return up to 20% of the amount spent on goods. Cashback is credited to your own and even credit funds. In addition, mobile bank customers receive bonuses for bringing a friend to the bank. For example, in sportbank for each activated card you can get from 55 to 105 UAH, as well as 55 UAH - for a friend.
A wide range of advanced options.
Neobank can provide higher quality standard services. For example, with the sportbank "Backpack" savings account, which operates in the current account mode, you can not only accumulate funds at 7% per annum, but also set goals and set up several auto-top-up methods. It is important that the sportbank pays interest on a weekly basis on Friday. For example, suppose you dream of a new sports bike. To do this, in the sportbank application, indicate the purpose - its cost, as well as the method of replenishment - independently or automatically. There are different options for auto-replenishment: transfer 1, 2, 5 or 10 percent from each purchase or receipt on the card, or write off a certain amount from the account on a specific day of each month.
In addition, you can activate the rounding of the balance to UAH 100. If you actively use the card, you can save about UAH 1000 and even more per month. If these funds are not spent, then it will be possible to collect an additional 500-1500 hryvnia, which will help you get closer to the goal!
Sports community.
Regular banks rarely make an effort to unite people around important values and ideas. But not mobile banks. Sportbank actively promotes sports and helps Ukrainians to lead an active lifestyle. First of all, this is a guaranteed 10% cashback on purchases and services in the "Sports" category. Further - discounts on participation in large-scale Run Ukraine marathons, DYKA GONKA obstacle races and Iron Way triathlon competitions. Sportbank also distributes free subscriptions to Sport Life for transactions. Details can be found on the bank's website.
In-app promotions that traditional banks rarely agree with or don't offer at all.
Mobile banks are more likely to make promotional offers to their customers. For example, a sportbank client can purchase a Bagland backpack and get a quarter of the price back or a 25% discount on a subscription to the Sport & Spa fitness center network and the like.
Providing Convenient Digital Features.
Unlike conventional banks, neobanks help to avoid the inconveniences that everyone faces in everyday life. Let's say that all of us are annoyed by the situation when the waiter counts a collective dinner in a restaurant for one check. Then someone pays for everyone, while others with a calculator calculate how much they should return to a friend. The sportbank has a Split Account function that allows you to split a shared check in a restaurant, cafe, gym and the like. The amount can be distributed among 20 participants. The application shows payment statistics. In addition, the application automatically sends a push with reminders, which is very helpful for those who are uncomfortable talking with friends about debt.
Another example. Remember this unpleasant feeling when you urgently need to make a payment on public transport, and someone nearby looks into your smartphone. In sportbank, you can turn on the "Incognito" mode and hide confidential information. It is also convenient when you need to reset the transaction confirmation screen, and you do not sketch your balance in Photoshop. Another useful feature of this mobile bank is Hidden Transactions. With its help, you can easily edit your own activity feed, for example, hide an unsuccessful or unnecessary transaction.
It is more profitable to build neobanks - bankers.
The modern business world is increasingly moving away from building cumbersome and costly projects, tending to flexibility in responding to the needs of the client. Neobank is just such a business.
“A mobile bank requires less investment in terms of a banking project: no need to build a presence network, invest in a branch, etc.,” Denis Saprykin, CEO of sportbank, said in an interview.
Basically, the business model of a mobile bank does not differ from those that build traditional ones: some earn on commissions, others on loans.
“Our business model is in line with the latter,” Saprykin continued. - We focus on lending with one difference: the mobile bank is cost effective. We do not have branches, an army of employees, etc., so we can give more cashback and other offers. "
Providing quick access to credit resources is a task that the banks we are used to do poorly today.
“It's no secret that financial companies are now taking a piece of the pie in terms of retail lending from banks,” says the CEO of sportbank. - Banks are not so active and aggressive in lending, and the products they have are not convenient, plus they are rather conservative in terms of risk management. Therefore, it is not so easy for a client to get a normal loan from a bank. "
Sportbank is convinced that all processes, especially those related to lending, must be fine-tuned. Therefore, the team has completely automated the process of issuing cards - from registration to delivery, than ordinary banks, through the procedure of registration, authentication and offline card issuance, cannot boast.
However, the secret of the success of neobanks, say the co-founders of sportbank, lies in the ability to unite people around common ideas.
“We pay a lot of attention to it [the community], because we understand that in the modern world, clients have a need for common interests,” says Denis Saprykin. - Now in Ukraine, a very popular topic of sports. Therefore, we want to create a community where you can get additional motivation to move towards your goals."
The provision of banking and financial services in the Sportbank mobile application is ensured by TAScombank JSC, which operates in the regulatory field of the NBU and on the basis of a banking license. NBU license No. 84 dated 10/25/2011. State registration No. 45 dated 21.10.1991.
Loans to the Sportbank account are subject to the following conditions: maximum loan amount - UAH 100,000; maximum loan term - on demand; real annual interest rate from 0.00001% to 121.77% (depends on the selected conditions).
