Global social and economic environments have been going through an increasingly challenging situation with COVID-19 pandemic. The effects of the pandemic are hitting not only Kosovo, but the entire world, having an enormous impact on daily lives socially and economically. Having to endure such times, understanding the importance of mutual cooperation and contribution toward surpassing the hardships, becomes all the more essential.
Considering the given circumstances, the mission of BKT Kosova remains focused on providing people with peace of mind, convenience, and possibilities in the banking sector. Banking should be easy and as such, BKT Kosova aims to be as close to customers as possible, make banking accessible and flexible at any time by using online platforms which constitute the core value of customer relationship management, especially during times like this. The CEO of BKT Kosova, Mr. Suat Bakkal, claims that “BKT clients are offered online banking channels such as e-banking and mobile banking, as safe, efficient and expedient ways of banking from distance. All clients can conveniently handle their account transactions online and monitor their account activities while we ensure complete safety along with the experience”.
Explaining further the digital orientation of the bank, especially during the pandemic, Mr. Bakkal says that “At BKT Kosova we believe that the right thing to do is to put people first, therefore the current top priority of the bank is to protect the health and well-being of our customers, while we continue being a dependable partner during this time. That is why we are concentrated in providing with the most suitable ways to allow access to banking for clients who need to stay in control of their finances, by accessing their account anytime to make transfers, pay bills and monitor transactions. It is understandable that during the times of hardships, people feel uncertain about the outcomes and that is why we are always there to support any inquiries from our customers, be it through our banking experts at contact centre or simply by visiting our information-enriched website”.
Online banking channels such as e-Banking and Mobile Banking Platforms are not new in the market, however considering the situation created due to COVID-19, their relevance and necessity grew bigger. Nevertheless, BKT Kosova went a step further in conceptualizing, developing and implementing other online banking opportunities, so that the mission of the bank to provide banking possibilities materializes further, especially during the time when the free movement of citizens is limited and social activities are halted. In this context, for the first time in the banking industry of Kosovo, BKT
Kosova introduced the Digital Loan through mobile banking and the Digital Account which can be opened online for those affected most by the pandemic.
Talking about the online banking breakthroughs, Mr. Bakkal says: “We have launched our Digital Loan, which is our newest product and by far the first in Kosovo’s market. It is intended to all BKT clients who can apply 24/7 via mobile banking application for a personal loan of up to 5,000 euros, in a process that finishes within 4 steps and 5 minutes, getting the response of approval or rejection instantly”. On the other hand, the launching of the Digital Account was also a necessary decision from the bank, considering the customers’ expectations and the new situation created as a result of the pandemic. In this context, BKT Kosova offers a secure, fast and easy way to open a new banking account, but most importantly the bank takes concrete steps in preserving the public health while offering the vast majority of the banking services, online, without the necessity to put customers and staff at risk of infection. “Based on our goal to protect public health, we have launched another online banking platform for opening the current account entirely from distance. As such, we are the first bank in the market offering this opportunity and the satisfaction and feedback we are receiving from the customers, are extensively reassuring in taking other similar decisions ahead”, says Mr. Bakkal, the CEO of BKT Kosova. Individuals are able to open their current accounts by applying online and on one click, without having to visit the branches. Once the clients apply, they receive all account-related details via email and this helps them save time, be more efficient and access banking service from distance and at any time. After the pandemic is over, all that customers will have to do is to sign a printed contract which will take seconds to complete in the branch they have chosen while applying online.
To complement more the new banking services tailored to be responsive to the situation, Mr. Bakkal explains that “The same clients who have applied online, will be given the opportunity to apply for an advance term-deposit account. The term-deposit is offered for 6 months of maturity, with an attractive interest rate, that is credited to the client’s current account immediately, which means that the client is rewarded in advance with the interest while their principal of the deposited amount will remain untouched until the maturity of the contract. This product has been offered to our clients for two years now, and the feedback from them who undersigned it was very positive. Considering the current situation, when various customers are prone to spending more out of their savings, this product comes to prominence, as the customers are given the opportunity to open a term-deposit, which on one hand helps them save money for the future, while on the other hand, the bank gives the interest right at the beginning, which is made available for spending. At the end of the maturity, the initial saved amount will be intact and ready for another advance deposit contract”
Another service that has been developing as a response to the digitalization trend of the bank and the clients’ preference to bank distantly, is the IVR system for customer service. Mr. Bakkal explains that “Starting from the second week of May 2020, our bank launches the newest service in our digital channel and customer service, the IVR system combined with Telephone Banking. IVR System or Interactive Voice Response technology is designed for all individual clients of BKT who want to take information regarding their accounts and credit cards from BKT, instantly and 24/7 via a phone call, without the necessity to talk to an agent. On the other hand, Telephone Banking as the newest service of this kind in the Kosovo banking market is designated for all individual clients of BKT who cannot or do not prefer to visit a branch or temporary have no access on internet banking channels, but need to perform banking transactions. In this context Telephone Banking allows customers to transfer money, pay bills, pay cards and many other services which are similarly offered in mobile banking”. BKT Kosova has been working on making online banking journey as sophisticated and coherent as possible, as the bank believes that simplicity and consistency will make clients cheer their banking experience.
BKT Kosova opened its first branch in Kosovo on November 2007, bringing to the Kosovo market its traditional banking experience, knowledge and expertise of over 90-year heritage. From that moment on, BKT continued to grow, change and adapt to new developments in every area. Therefore, BKT Kosova, continuously adopts the latest technological developments in the financial world by investing in the latest trends. BKT mission is to contribute to rising standards of living by using talents and energy to develop solutions that add value to people’s lives, by providing people with peace of mind, convenience, and possibilities in the banking sector.
