Air Bank, modern bank of the 21st century with clear internet and mobile banking

From the start, Air Bank wanted to be modern and innovative. This is why it puts a lot of effort into its Internet and Mobile Banking solutions and new marketing communications.

About the bank

Air Bank is part of the PPF Group, one of the largest investment and financial groups in Central and Eastern Europe, and has been on the Czech market since 2011. In 2016, the bank posted a net profit of 244 mil. CZK, which was the third consecutive profitable year. Year-on-year, the Bank grew by 22% to 515 thousand clients, and roughly a quarter use mobile banking to access their accounts. The volume of deposits on ordinary and savings accounts grew by 14% to CZK 78.9 billion. The total volume of loans in the Air Bank portfolio increased by 21% to CZK 32.6 billion. Air Bank’s balance sheet total increased by 14% year-on-year to CZK 86.8 billion by the end of 2016. Equity increased by 3% to CZK 5.4 billion.

Since 2011, Air Bank has been a fresh power in Czech banking market.

Even clients can like the bank. Until Air Bank began operating on the Czech banking market, this sentence was just another classic marketing slogan. Banks often charge product and service fees, which many clients think are unfair and immoral and contribute to the negative image of banks in the Czech Republic. At Air Bank, they chose a different approach and focused on clients who use common banking services and want a bank that is open, honest, and will not needlessly charge absurd fees. Air Bank also adapted this to their communications strategy. The bank’s pricelist fits onto a single page. The bank has rejected unreasonable fees for account management, statements, withdrawals from ATMs, and many more. Not surprisingly, it was voted as the most outstanding bank of the year in 2014. Many new clients switch to Air Bank from competitors. As a result, other banks have been forced to change their approach and services, so all clients across the banking sector benefit. It could be said that Air Bank has in some ways changed how things are done in Czech banking.

From the start, Air Bank wanted to be modern and innovative. This is why it puts a lot of effort into its Internet and Mobile Banking solutions and new marketing communications. Its mobile banking app is one of the best available from the App Store and Google Play, and the bank continues to develop it. Today, it has more than 100 000 active users.

The bank is not afraid of challenge and is expanding into Asia.

On the local market, the bank has already achieved great success, but it is still looking for new challenges. One of those is international expansion. Although most banks are expanding into nearby markets, typically within the EU, Air Bank has chosen a different route and decided to expand into Asia.

The number of mobile banking users is growing worldwide. It is estimated that by the end of 2019, 1.8 billion people (around 25% of the world’s population) will use mobile banking. Southeast Asia will be a major contributor in accelerating this growth. Recently, markets have been perceived as too poor and unattractive for developing mobile banking, but the bank is ready to completely overthrow these established myths. Currently, more than half a billion mobile phones are active in Southeast Asia its countries have some of the cheapest rates in the world. Every year, customers increasingly demand higher quality mobile devices and applications they want to use.

Mobile First Strategy is a pivotal pillar in planning the future business strategy of banks across Southeast Asia, and Air Bank knows it well.

A mobile phone is often the only option for a client to access the internet, and for younger generations, it is especially the most important channel they use to communicate with their bank. Mobile First Strategy is a pivotal pillar in planning the future business strategy of banks across Southeast Asia, and Air Bank knows it well. At the same time, according to the latest research, the quality of mobile banking is one of the key criteria clients use to evaluate overall satisfaction with their bank. Air Bank thus places great importance in this area.

It’s great that Air Bank has addressed a key concern, such as providing mobile application security, to let us use our PowerAuth product. Thanks to this, users can sign in to a mobile app and simply confirm payments with a PIN or fingerprint. The PowerAuth solution is open-source with open documentation, allowing the bank to quickly implement solutions into systems with minimal involvement on our part, which is not common in other, similarly complex projects.