With the first-of-its-kind conference Retail Reload – powered by AI, Postbank introduced its new brand, PB Personal Finance by Postbank, which officially became part of the leading financial institution in June. The special event, organized in partnership with Mastercard Bulgaria, brought together over 250 representatives from leading companies. Alongside internationally renowned speakers, they discussed the latest trends and innovations in artificial intelligence in the retail business. Driven by the desire to share expertise and global practices, these companies united in their mission to introduce the Bulgarian retail ecosystem to innovative ways in which artificial intelligence is changing the consumer experience and helping with more efficient business management.
Angel Mateev, General Manager of the Retail Banking Sector at Postbank, Rumen Radushev, Retail Banking Sector Manager at Postbank, and Maria Mangarova, Director of PB Personal Finance Management at Postbank, commented on how the new Beyond banking concept will provide more value and benefits for customers and merchants.
The vision and practice of working with data, which have become the new primary source of added value for every business, hyper-personalization in commerce, and the development of artificial intelligence applications were discussed by the speakers from Mastercard, including Gabriel Gita, Vice President of Mastercard and Head of the Solution Center for the SEE division, Neil Taylor, Vice President Data Strategy at Mastercard, and David Kerrigan, AI Consultant and Trainer with Mastercard Labs.
The addition of the new brand, PB Personal Finance, is not only part of Postbank’s strategic development as a systemically important bank, offering innovations and personalized financial solutions for the convenience of its customers but also of great importance for Eurobank Group as it expands its operations into significant regional markets. Just a few months later, Postbank reported excellent results and solidified its leading position in the consumer lending market by offering financial products to more than 1.2 million customers and providing BGN 6.9 billion in loans to households.
The bank’s experts shared details about the future positioning and development of the PB Personal Finance brand and how they maintain the pulse of their successful business, especially with respect to one of the company’s fundamental products – installment financing.
“At Postbank, we place a great emphasis on the speed of service, and 91% of all requests from our customers receive a response in less than 1 minute, thanks to an increasingly digitized workflow process, with 70% of electronically signed contracts, saving valuable time for both the team and consumers. As a result, 40% of new customers seeking financing from the bank choose our services again,” commented Maria Mangarova, Director of the PB Personal Finance Division at Postbank.
World experts from the tech leader Mastercard also discussed the growing need for comprehensive cybersecurity solutions, the legal model that each company creates, and reliable integrations against the risks posed by new algorithms. In addition, the experts commented on how the introduction of ChatGPT and fundamental models will transform and optimize human resources. It is expected that by 2027, 90% of marketing messages will be generated by AI, a significant portion of music will be created technologically with the voices of existing creators, and commerce will increasingly shift to self-service establishments. However, one thing is certain: professionals who embrace new technologies and AI will be much more competitive and will develop a more successful business compared to those who fear or deny them, as the key panelists at the Retail Reload – powered by AI conference emphasized.