In 2018, Alfa-Bank Ukraine launched a new digital platform, “OK, Alfa!” for entrepreneurs, which included Internet banking (web version) and mobile application.
At the beginning of 2019, Alfa-Bank Ukraine engaged SME Banking Agency experts to evaluate the effectiveness and functionality of the platform and compare it with competing banks in the Ukrainian market and counterparts from the countries of the region.
In January-March 2019, the SME Banking Agency conducted a comprehensive study, which included an analysis of the following:
- business environment: quantitative indicators of business in Ukraine (in particular entrepreneurs), sectoral and regional structure, and needs for banking services;
- general trends of digital platforms for SME clients, key strategies, and leading providers;
- key competitors and their strategies in the development of digital services for SMEs;
- functionality of Internet banking and mobile application “OK, Alfa!”, 5 key competitors in the Ukrainian market and 5 similar services from Georgia, Kazakhstan, and Russia.
As a result of the study, SME Banking Agency experts provided an independent assessment of OK, Alfa!, its market position, and possible growth points. The experts presented a detailed analysis of the platform’s functionality, its competitors, and counterparts from other countries. The best practices were also identified, which the Bank could focus on in further product development.
Between July 2019 and December 2020, AFC, in cooperation with the SME Banking Club from Ukraine, assisted Oschadbank in developing the necessary internal capacity and adjusting the processes for the provision of efficient lending services to eligible MSMEs.
Implementation of Internet banks and mobile banking applications for SME based on in-house research and partner solutions.
In 2017, OTP Bank (Ukraine) considered launching a digital bank for business clients. Before product development, SME Banking Agency carried out comprehensive market research.