Banca Transilvania: 10 Highlights from 2023
Last year, Banca Transilvania announced a series of updates to its products, services, apps, projects and partnerships. It also hit a few milestones: 4 million customers, 6 million cards and 10,000 employees.
A look back at the year, through some of the biggest topics:
- Banca Transilvania is the strongest Romanian brand, with an elite AAA+ rating, according to the Romania 50 2023 ranking compiled by Brand Finance. With brand value up 25% versus the previous year, BT reached 494 million euro, placing 4th among Romania’s most valuable brands.
- Extending client access to exclusive services with the launch of Premium Banking: Banca Transilvania launched the Premium Banking business segment, offering services for people with savings or investments between 75,000 and 200,000 euro, or with monthly income of at least 10,000 lei paid into a BT account. Premium Banking is aimed at clients in Bucharest and, starting this year, will be available in areas of the country with the largest number of BT clients fitting this profile.
- BT Pay’s growth as a super-app, through the steady rollout of features such as: purchase of RCA insurance, new options for managing accounts and cards, travel insurance, issuing virtual cards with animated designs, one of them being the BT Visa UNTOLD card, etc.
- Banking for children aged 10 to 14: The bank launched the BT Kiddo card and the BT Pay Kiddo app, which help build positive money-management habits, with guidance from parents.
- Launching instant euro payments for individuals and companies. By adding instant euro transfers to its offering, Banca Transilvania joined the European initiative under which next-day money transfers become transfers in ten seconds, helping significantly improve cash flow and reduce costs for businesses, particularly SMEs.
- Launching the BT Go app, through which the bank is exploring new ways to support entrepreneurs with banking and business solutions. Since December, the app has a new feature, a first: automatic issuance and submission of e-invoices to ANAF, helping entrepreneurs align with Ro-eFactura legislation, under which, from January this year, companies must issue electronic invoices that are delivered directly to ANAF’s private virtual space (SPV).
- Integrating artificial intelligence into online communication: the bank launched the AI Search feature on the Întreb BT platform, making interactions simpler and content more accessible with the help of technology.
- Five bond issues launched: through the most recent of these, which was also BT’s first ESG issue, BT raised 500 million euro from investors.
- Dual international rating coverage: starting in 2023, the bank’s activity is also rated by Moody’s, alongside Fitch Ratings.
- Partnerships: BT has supported Via Transilvanica since 2023 under a collaboration of at least three years. The bank was also the main partner of the European Capital of Culture 2023 – Timișoara, one of the national projects.
Banca Transilvania will announce on its website this year’s financial communication calendar, which will also include the date on which it will publish its 2023 financial results.