How Investbank competes with fintech services in instant payments

Investbank participated in the third edition of the Digitalk & A1 Awards. The competition honors the most innovative technological projects implemented in 2023. It is organized by the technological media Digitalk and "A1 Bulgaria". Applications are evaluated by a jury composed of representatives of business, academia, non-profit organizations, the start-up community and etc.

This year, Investbank got involved with the "Instant Payments by Mobile Number" project.

The entry of modern and convenient fintech companies has made it clear that banks need to invest more in customer-facing innovation. Electronic banking is no longer enough, with people looking for convenient everyday services that actually save them time.

From December 2023, Investbank provides its customers who use mobile banking with the opportunity to make instant payments by mobile number, by analogy with fintech services. Blink P2P is the next step in the financial institution's strategy aimed at maximum customer satisfaction through the ability to perform transactions by mobile number within 10 seconds.

"The project raises banking to a whole new level. There is no faster way to make transfers in national currency. The service is competitive with the solutions offered by fintech companies. In this way, customers can make a transfer to a friend for lunch, dinner, a gift or something else. Before blink P2P, customers withdrew money from an ATM and paid in cash. Now it goes through blink," commented Margarita Stoyanova, director of the Digital Services and Customer Service Center at Investbank. This is the directorate that leads all projects related to digitization and modernization of services in the bank.

In addition to the https://digitalk.bg/awards/kandidati/2024/02/27/4606392_digitalka1_awards_24_kak_investbank_konkurira_finteh/   , the project was also presented on the pages of a thematic edition of Economedia dedicated to all participants in the competition and the winners.