TBI is the first Bulgarian Bank to Partner with Visa in the Fintech Fast Track Program

When it comes to personal finances, today’s consumers are looking not only for increased convenience and flexibility but also for more tailored services. To address this demand, TBI continues to build on its role as a challenger bank in Southeastern Europe offering next-gen daily banking services. Its fintech mindset was recognized by Visa, one of the world’s leaders in digital payments, and TBI is the first Bulgarian bank to partner with them in their Fast Track program for innovative companies. It’s a network that supports the global fintech ecosystem with access to Visa’s pool of technology, resources, and know-how. Thus, TBI joins the ranks of established financial institutions from around the world who have already been members of the hub.

What is Visa Fast Track?

Fast Track is a program that allows both new and well-known businesses to use the security, reliability, and scale of Visa to develop cutting-edge payment solutions, taking the process from months to weeks. TBI’s focus on providing financing and additional embedded services through a wide network of ‘phygital’ channels is what made it stand out among competitors in the region. The bank’s Fast Track membership acknowledges its successful digitalization, unique business model, excellent revenue results and strong market presence that is constantly expanding. Through the program, TBI will benefit from Visa’s expertise in areas such as business strategy, marketing, design and risk management, and will synergize with other fintech players from around the world.

What’s in it for the customer?

Partnering with Visa is the next step in TBI’s efforts to improve its secure and fast banking services, now combined with the credibility and wide acceptance of one of the world leaders in payments solutions. Thanks to the collaboration, as of April 2022 the bank’s clients in Bulgaria and soon after in Romania and Greece will get physical or virtual Visa cards through TBI’s mobile application and make easy payments using their smartphones. Everything customers do daily—from paying utility bills to managing personal loans—will be done digitally and effortlessly, with just a few clicks. Furthermore, the bank’s signature Neon card will enable customers to benefit from TBI’s Buy Now Pay Later (BNPL) solution when shopping. With BNPL they could spread payments up to 90 days with zero interest and zero fees.

“The collaboration between Visa and TBI bank shows the importance both organizations place on innovation and means we are looking in the same direction. Being the first Bulgarian bank in the Fast Track program highlights our remarkable digitalization story and proves we are the type of fintech partner Visa is looking for. By joining forces, we will both continue delivering the payment services of tomorrow and making our customers’ daily lives easier and better,” said Petr Baron, CEO at TBI.

“It’s thrilling to see bank partners utilize Visa programs and network to digitize financial services and improve the lives of the consumers and businesses they touch. Through the Fast Track program, we’re providing banks and fintechs with a simple set of tools to bring their products to life. TBI Bank is the perfect fit for our program with their innovative business model and customer-focused approach This collaboration will give an even greater impetus to the development of digital payments in Bulgaria with exceptional convenience and security for the consumers,” said Catalin Cretu, General Manager Romania, Bulgaria, Croatia, and Slovenia at Visa.