Bank Millennium SA: New Millennium 360° – even more services in the super-app, more personalization
More and more Poles use online banking services on a daily basis. According to a survey, carried out for Bank Millennium*, 81% of Poles regularly use mobile banking services, and at the same time, almost half of account holders have not been to a branch for more than six months. For 41% of Poles, convenient online banking is one of the two most important account selection criteria, after no account fees. More and more often, we are present on the web and nearly two out of three account holders pay attention to cybersecurity. In response to changing customer expectations, Millennium Bank presents Millennium 360° – a new free account, combined with an even wider offer of personalized services in the mobile super-app, and soon also with an innovative CyberSupport solution.
The Bank is pursuing its strategy of developing customer-inspired services, a mobile super-application, supporting customers in many aspects of their daily lives and hyper-personalization. All elements of the Millennium 360° offer have been developed based on in-depth research into customer needs and key trends.
– Millennium 360° is much more than an account. Following extensive research into customer needs, we meet the ever-changing expectations of our consumers who are looking for the most effective tools to cope with their ever-changing and rapidly changing daily lives. In addition to a full and free account with many mobile tools and home support, we offer other additional services that customers expect – Refund of purchases, a service combined with the presentation of personalized offers, a Competitive Currency Package at the card, and soon the CyberSupport solution, the first of its kind on the market – says Tomasz Pol, director of the Retail Banking Marketing department of Bank Millennium.
Under the new offer, account maintenance and withdrawals at all ATMs in Poland and abroad are unconditionally free and after fulfilling a simple condition (5 card or BLIK payments or 1 payment in the case people aged 18-26), for PLN 0 there is also a debit card and BLIK payment service. National transfers in PLN, standing orders and direct debits as well as BLIK transfers to the phone are always free without conditions. The account is offered with Pakiet Bardzo Pomocny (Very Useful Package), popular with customers, through which you can use professional help at home, as well as medical and IT assistance.
A novelty are money services – Currency limit, under which the client can make payments in any currency without the bank’s margin for currency conversion up to 1000 PLN, at an attractive rate offered by the payment organization, and the Currency Package, which the customer can easily activate in the mobile application, at the price of 9.90 PLN per week, including unlimited currency transactions at an attractive rate from the organization of payment, without additional bank margin for currency conversion.
The Bank has continued to develop its online services, offering its customers features that meet their daily needs. It combines the shopping goodies platform with electronic banking, offering within the framework of Millennium 360° the Reimbursement of purchases service with a personalized presentation of store offers, a higher level of return for Millennium 360° customers and the presentation of the amount of the return. accumulated in online banking.
Soon, the bank will also provide its customers with e-vouchers, i.e. the functionality to purchase recharge codes in the app, for example for games or multimedia.
– We already have more than 2 million customers who use the bank’s services on their mobiles. Therefore, we have consistently implemented the strategy of developing mobile services into super apps that we design together with our customers based on the highest UX standards and research in our UX Lab. Our app combines financial and non-financial services – our customers already use the app to pay for highways or buy municipal transport tickets, they buy car insurance in the app, as well as to apply for child benefits. However, today we are focusing on e-commerce since already 77% of Internet users in Poland buy online**. There are therefore also our customers and therefore comes our offer to reimburse purchases. However, given the extent of customers’ presence on the Internet, we are also very keen that they feel secure. So far, we have carried out many educational activities in this field, but we still want to offer something more, a new CyberSupport service, available in e-banking – says Halina Karpińska, director of the Electronic Banking department of Bank Millennium.
For years, Millennium Bank has focused on providing customized solutions that are perfectly tailored to the individual needs of our clients. Personalization is key and this trend is growing. According to Bank Millennium’s Customer Loyalty Study, Personalization has the strongest impact on Inclination to Recommend (NPS)***. Thus, the final form of services is always the result of observations of customer behavior and needs, but also of trends that the bank seeks to anticipate.
– Personalization is the answer to the fundamental challenge of the digital age, which is to develop and maintain customer relations. The digitization of customers is progressing faster and faster – today, for many customers, banking is a mobile application. But even in the midst of this widespread digitization, it should be remembered that each of them still wants to feel special and expects a deeply personalized customer experience. That’s why, at Bank Millennium, we are implementing hyper-personalization, striving to make it easier for our customers to find and use what they need, exactly when they need it. Hyper-personalization also presents itself as an improvement of almost all interactions with the customer, taking into account the product offer and at the same time going far beyond – for example by introducing a number of useful tips . The recognition of customer needs is based on data analysis, machine learning and artificial intelligence. This is exactly how we built our personalized purchase refund service. – says Mariusz Gromada, director of the Customer Intelligence department of Bank Millennium.
The Purchase Refunds service is offered in conjunction with the Bank Millennium Group goodies purchase platform. It has been extremely popular with the value of purchases in the program already over 1 billion PLN, and the value of cashback accumulated on this amount already over 27 million PLN.
The goodies shopping platform (mobile application and website) is one of the few applications on the market that allows the combination of promotions, so that users can take advantage of special discounts and bonuses offered by stores, and at the same time to receive a reimbursement of part of their expenses. As part of the cashback goodie, there are almost 800 popular brands and online stores available.
– The goodie cashback service is appreciated both by its users and by e-commerce representatives – it creates a synergy effect where everyone wins through cooperation. Its pilot in the bank’s online service and mobile app also met with strong interest. Since the bank customers were very eager to use the cashback goodie, we are sure that in its personalized version integrated into the bank account, the service Refund of purchases in online stores will be very successful. Especially since, in collaboration with our partners, we are preparing special, diversified and attractive offers for holders of Millennium 360°. – says Wojciech Grudzień, Chairman of the Board of Millennium Goodie.
More information about the new offer will soon be available on the bank’s website: www.bankmillennium.pl.
*”Millennium 360° Refresh” survey carried out by GfK Polonia for Bank Millennium in September 2021 on a representative sample of the general adult population of Poland n = 1210 respondents, according to the CAWI technique.
** “E-commerce in Poland 2021” survey conducted by Gemius
****Data based on the 2021 NPS Barometer internal survey of retail customers (n=3517)