According to observations of UniCredit Bulbank in 2016, the average time for receiving a service at a bank branch – payments at cash desks, transfers, consultations, etc. – is about 30 minutes. The actual going to a bank branch is the most time-consuming – it takes 17 minutes, and not the servicing itself which takes 7 minutes only after around 6 minutes of waiting at the bank hall. In many cases using mobile banking can easily save us this half an hour.
UniCredit Bulbank’s data show that more and more clients chose transferring money or paying bills through their smart phone or tablet, over going to a bank branch to do this. For a year the number of active users of mobile banking has increased more than twice, and there is a growth of over 70% of the operations. “Almost one third of all the electronic payments made by individual clients, are now via mobile phone. This process is due to the new opportunities and functionalities that we introduce – e.g. the payment of utility bills”, say experts from Alternative Channels Department of UniCredit Bulbank.
A considerable advantage of mobile banking is that it is accessible at any time and any place, without compromising security.
An interesting statistics of the mobile banking Bulbank Mobile shows that a great number of the clients prefer making transfers as early as their morning coffee time. For example 31% of all ordered transfers happen in the interval between 7:00 and 7:30 in the morning. 42% of all users that log on for information only, check the amounts available on their accounts on their way to work, i.e. between 8:00 and 8:30 in the morning. About 27% of all payments of utility bills are made between 19:30 and 20:00 when people usually have dinner with their families.
The mobile application Bulbank Mobile can be easily used for information purposes on a daily basis and free of charge, without being activated for transfers. It provides information on current FX rates, can be used as a Currency Converter; in addition, one can quickly and easily find information about the closest ATM device or branch of the bank.
UniCredit Bulbank data show that mobile banking is usually used to check the balance and movements on bank accounts, information about cards and loans, bank transfers and payment of utility bills. Some clients use it to transfer money from one account to another, e.g. to replenish their card. According to observations of UniCredit Bulbank experts, quite a few people make small payments to their friends, acquaintances or colleagues, for example, when collecting money for a present, etc. There is a clear trend for the users of on-line banking to be the fastest to re-direct to the even more convenient mobile banking, they add.
Since the introduction of the service for payment of utility bills a couple of months ago, the payments via mobile banking have been over 50% of all payments of utility bills in branches, on-line, etc.
For some time now clients of Bulbank Mobile have been able to use it on more than one device with access to all existing forms for payments and bills. Adding and removing new smart devices is done in Bulbank Online.