The market adventures of Smart Bank

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Bank Smart, when it entered the market in June 2014, wanted to cause a small revolution. It self-proclaimed itself the first mobile bank. Today, we can say that the bank was well received and settled on the Polish market. Although it did not repeat the spectacular successes that accompanied the appearance of mBank or Alior Sync (currently T-Mobile Usługi Bankowe). At the time of Bank Smart's premiere, Polish electronic banking was already familiar with mobile solutions and had been using them successfully for many months. We are talking not only about mobile applications, but also about bank transaction systems that were able to adapt to smaller phone displays. The bank's offer was already described on the website in the entry Bank Smart opinions .

Tempting with cherries
bank smart reviews logo
Photo: Bank Smart

Like every new bank currently appearing on the market, Smart also el salvador whatsapp database customers with promotional offers. In the very competitive Polish banking market, such activities are currently necessary to attract customers. The competition is so strong that only additional bonuses are currently able to attract Poles to the bank and persuade them to open an account and use other financial products.
Today, opinions about Bank Smart remain positive, although additional promotions have ended. Although here, among other things, the famous limitation of interest on savings accounts. Initially, the higher interest rate was applicable without a limit on the amount. Then the promotional interest rate was limited to PLN 50,000. Then we saw further decreases in the amount of interest charged by Bank Smart.

The changes were forced by the market
Of course, the above-mentioned cuts in the amount of deposit products were a natural course of events. After acquiring the planned number of new customers, the bank did not intend to constantly add to the business. Especially since the credit offer of Bank Smart, on which financial institutions earn the most, was still in its infancy.

Lack of customer trust
commentingLike any new project, the new mobile bank also had to face an initial lack of trust among potential customers. The offer was not entirely clear to the average Joe. Many people were concerned about whether they would be able to use the bank's transaction system on devices other than smartphones. The advertising slogan was - Bank Smart created for smartphones. Meanwhile, of course, customers can also carry out operations in the bank's system without having to install a mobile application on phones, tablets, laptops and desktop computers.
The second important aspect was the concern about the security of funds entrusted to Bank Smart. In this regard, the bank still reassures customers in its advertisements that it is covered by BFG guarantees, i.e. the Bank Guarantee Fund.