Let's introduce you to Cash Online!
20.05.2021 Share +
We are happy to introduce you to our online lending solution driven by customers’ needs and making their life easier. Often when applying for such service, although the process starts online, customers need to finalize it in a branch office. However, through our new product “Cash Online”, we now give the opportunity to our clients to skip visiting a physical office, but to quickly and safely complete the whole process entirely – from applying to receiving the funds to their account, from the comfort of their home and the vast majority decisions are instant. With this product, each customer can repay his loan in equal installments with maximum amount up to 10 000 BGN and tenor up to 48 months as there are no fees, and no collateral requested.
After the loan is approved, the client can receive his money directly on his TBI bank account, from a branch or at EasyPay terminals. "It's really convenient – everything happened so fast and without going to a bank’s office," shares Ivaylo P. – one of the first customers using “Cash-Online”.
We developed and piloted this product in 2020 shortly after the pandemic hit with the main purpose of ensuring convenience to our clients. Since its launch, the product already led to a nearly three times increase in applications per month vs. the previous leads generation flow.
For further customers’ convenience, we also provide clients with 24/7 support via live chat and call center. As an additional benefit, we offer tailormade insurances for different needs: credit and account protection, which ensures partial or full repayment of the customer’s loan in case of sudden unemployment, hospitalization or prolonged sick leave. Moreover, after the customer submits the application, based on his previous experience with the Bank, we make an evaluation and provide him with further alternatives - such as higher amount or lower loan in case the credit risk does not allow borrowing the desired amount. At any moment, the client also can adjust his loan parameters including the amounts, terms and installment before signing the final contract – transparent, free of charge and with full control according to his preferences.
So far the product is very popular with millennials, which currently consists nearly 2/3 of the applicants, aged below 35 years old.
“Cash-Online is created as a response to the customers’ needs for convenience, speed and security. We are glad that not only we can furthermore improve their digital lending experience and continue our transformation journey, but also ensure safety both for our customers and our colleagues,” said Pavels Gilodo, SVP, Digital Retail Lending at TBI Bank.
Due to its successful launch in Bulgaria, the product will be introduced also on the Romanian market later this year.