“Green light” lit Bank of Greece in Snappi digital bank as its licensing process has been completed and the official “ok” from the European Central Bank (ECB) is now expected to start operating.
ECB approval is expected by the end of this week, and its head Gabriela Kindert will implement the strategic plan, which is Snappi’s dynamic entry into the market of digital payments and services, from the next minute.
Piraeus Bank has designated 2024 as the “Year of Snappi” and has lofty goals for the digital bank, the brainchild of Piraeus and Natech, a Greek fintech company based in Ioannina. In particular, the goal is to have 1 million customers and 150 partnerships with merchants by 2026, as the bank’s management announced in a conversation with analysts during the presentation of the financial results of the 1st quarter of this year.
Strategic goals – expansion abroad
15 days ago, the executive director of Piraeus Bank, Christos Megalou, was typical of the presentation of the bank’s new corporate identity. “The market is changing to digital. And we will be present, we want to change our image of young people, get closer to the new generation. Embrace the development of digital and with Snappi “we can do things in Europe”.
Snappi’s strategic goal is to expand overseas. It will leverage AI capabilities to offer its customers a pure digital experience with a full range of products targeting individuals, small and medium businesses, professionals.
snappi will be cloud based and more like a platform than a bank. Breaking free from the shackles of the traditional banking industry, Snappi will offer its users a purely digital experience for a range of products that will range from transactions to deposits and loans, offering innovative solutions.
It should be noted that Piraeus plans international expansion of Snappi until 2030 and partners from different countries at the “bank as a service” level.
According to Piraeus’ administration, Snappi’s operating costs will be 15 million euros in 2024, 20 million euros in 2025 and 30 million euros in 2026, and Snappi expects revenues of 55 million euros in the three years 2024-2026.
As Snappi CEO Ms Gabriela Kindert said: “snappi will focus not only on technological innovation, but also on creating an inclusive banking experience. Our mission is to use digital capabilities to meet the evolving needs of our society, aiming to improve all aspects of the customer experience with a customer-centric approach, ensuring our services are accessible, easy to use and adapted to the modern financial landscape.”
It should be noted that according to the financial results of the 1st quarter, Piraeus Bank performs 99% of transactions digitally, doubled its digital sales in 2020-2023, and the number of active users of electronic banks also increased by 35%. space
