The international financial system is experiencing a radical change, with technology and artificial intelligence redefining customer services and experience. Greece is no exception, as Greek banks have managed within a few years to be at the forefront of developments by offering digital tools that often have nothing to envy from international applications Fintech, while also in the banking landscape, new players, purely digital banks, the so -called Neobanks have made their appearance.
The four systemic banks, as well as smaller in size, according to data announced, have systematically invested in their digital transformation. In the first phase of their digital transformation, according to data released, around € 800 million were invested, followed by new investments that are continuing. From the upgrading of core banking systems to the complete refurbishment of mobile banking applications, the picture is reminiscent of international technological platforms despite the applications we knew until five years ago.
Today, according to banks’ official figures, more than 96% of the formal transactions are carried out through digital channels, a percentage that, as noted, would seem unthinkable a few years ago. At the same time, the natural stores, according to the detailed business plan of the publicized banks, do not disappear but evolve. They have also made the appearance of hybrid banking stores in the Greek market, with screens, remote cash, the ability to deposit coins and Banking via video, and the traditional until a few years ago banking stores have greatly incorporated all new technological tools and at the same time enhance their role as consulting.
The relationship with the fintech
One key element that characterizes the Greek banking system is his approach to Fintech. Systemic banks, according to public positions of administrative executives, do not see new technology companies as a threat, but as partners. Indeed, through innovation competitions, incubators with partnerships and initiatives that have announced and implemented by all banks in Greece, incorporate solutions that improve their service and functionality. In conjunction with international trends, where banks and Fintech coexist in a common ecosystem, exchanging know -how and creating new products for customers.
The Neobanks in Greece
In addition to commercial banks, Neobanks, banks that operate exclusively digitally, without physical stores, are growing in the Greek market. Typical examples are TBI Bank, which, as it has announced, as a focus on consumer financing and business support, has built a portfolio mainly based on Buy Now, Pay Later (BNPL) solutions and consumer loans. In a fully digital process, the customer can see his available limit through the TBI application and receive funding in a few minutes, without complex steps or physical presence.
In the Greek market, TBI has already funded over 300 million euros in three years, serving more than 300,000 customers. From daily needs in fashion and cosmetics, to larger electronics, furniture or even vehicles markets, the bank facilitates the life of the modern consumer.
At the same time, it supports businesses by accessing funding tools. Its operation is exclusively digital, with a hybrid service model that combines technology and human support. So, while it does not have stores, it offers customers the opportunity to have immediate and automated experience, but also access to real people whenever they need it. The potential market for TBI Bank is essentially the entire adult population with a smartphone. This is all it takes to become a bank customer, as its executives say.
Snappi is also the first Greek Neobank to receive a bank license from the European Central Bank. As it has announced, it offers a comprehensive account with Greek IBAN, payments, transfers and IRIS, as well as digital and natural debit card. It stands out for its 3% high interest rate on deposits up to € 1,000 and for the “Snappi Pay Later” capability, which allows customers to shop online and pay them in four interest -free doses without the use of a card.
The main difference of snappi from a traditional bank is the absence of bureaucracy and physical presence. Everything is done through mobile app or telephone support, and customer service is available 24 hours a day with real people. Although it is mainly aimed at individuals, Snappi is also aimed at e-commerce businesses, providing the integration of the Pay Later solution into their e-shops.
In Greece, Revolut is active in Greece. International Neobank in Greece has more than 1.7 million customers in our country, as it has announced. It does not have natural stores, operates exclusively digitally and has gained ground thanks to its wide portfolio. It offers multiple packages (one free and four other subscription), direct transfers via SEPA without charges, users transfers (P2P), the ability to create joint accounts, competitive exchange rates and a number of travel services such as esims. In addition, it provides investment opportunities, from shares to flexible funds in money market funds. For businesses it has the Revolut Business product, offering accounts and services tailored to corporate customer needs. It does not offer loans to Greece.
Technology and human resources
A common denominator of Greek banks’ administrative executives who have seen the light of publicity is that technology and artificial intelligence are not treated as a human substitute, but as a tool for its support and support. Bankers agree that the future of banking will not be built on automated reality, but on a model where technology will undertake repetitive and time -consuming processes, releasing people to focus on providing counseling, making strategic decisions and developing relationships with customers.
This view reflects, as they themselves say, a new philosophy that dominates the banking space. Investments in digital tools, Big Data and AI do not aim to replace humans, but to make it more efficient, more creative and more useful for the customer. In an environment where technology is evolving rapidly, the human crisis, emotional intelligence and the ability to adapt remain the decisive factors that will distinguish tomorrow’s banks.
In other words, the strategy of all systemic banks shows that the banking of the future will be the result of a balanced coexistence of man and technology, where innovation will act as a multiplier of human skills and not as a competitor.
From the funds to data: new banking careers
The digital age has also transformed the profession of bank employee itself. New specialties, such as Digital Product Owner, Cybersecurity Architect, Agile Coach or Responsible AI Specialist, have come to the fore. At the same time, the roles that traditionally supported the operation of banks, such as cashiers or document processing employees, are reduced or transformed. According to human resources executives, the future belongs to those who have adaptability, digital skills, strategic thinking and ability to cooperate. Communication and emotional intelligence are considered as important as technological competence.
The new banking reality in Greece is already here. Banks have invested many millions in their digital transformation, upgraded their applications, redesigned their stores and collaborating with Fintech, seeing them as an opportunity. At the same time, Neobanks offer an alternative experience exclusively digitally.
In this transition, technology and man go together. The future of banking in Greece is no longer in the neighborhood fund, but on the mobile screen and, above all, in the constant balance between technology and humans, which have been realized by all players in the field of financial services, traditional and young.