– Małgorzata Ślipek talks with Mariusz Grendowicz, Vice President of the Management Board of Bank BPH SA, Managing the Corporate Banking and Real Estate Financing Division.
Małgorzata Ślipek: Banks are eager to use the latest achievements in electronics and telecommunications. Is it the fantasy of marketing specialists that makes financial institutions spend millions of dollars on their internet platforms, or does the reality of the twenty-first century determine such behavior?
Mariusz Grendowicz: A few years ago, the use of new technologies in banking on such a wide scale as it is today seemed unrealistic, or at least very distant in time. Meanwhile, today it is a fact. One of the most significant consequences of using the Internet as the main distribution channel for financial products is the leveling of the playing field between large and small market players. This applies not only to the banking services market. Small financial institutions, despite the lack of an extensive branch network, can now successfully compete with large corporations. The development and popularization of new technologies have also led to the creation of banks operating only on the Internet, or extensive internet platforms offering a whole spectrum of services previously available only in bank branches. New technologies in banking services allow for “shortening” the distance between towns, which is particularly important for companies conducting business on a national or global scale. The popularization of the Internet has practically reduced these distances to zero. Thus, the distance between the bank and the customer has also “disappeared,” as the customer can now manage their finances or their company’s finances 24 hours a day without leaving home or their company’s headquarters. Of course, a bank launching an internet service also gains a significant marketing advantage, allowing it to benefit from the image of a modern, dynamic, and innovative financial institution.
The article comes from the magazine “e-Fakty” 3/2006.