MKB is a top-3 mobile banking provider according to Markswebb

16.12.2021

Credit Bank of Moscow (MKB) is a top-3 mobile banking provider in 2021 according to the consulting agency Markswebb.

The Bank has climbed up by 2 positions compared to the last year and ranks #3 in the "Digital Office" category. In the "Daily Banking" category, MKB jumped over 9 spots at once and ranks #4.

The experts noted that MKB Online has been strongly improved by adding payment services, simplifying the customer navigation and refining its usability. Markswebb's report states that "MKB has shot ahead into a top-3 position in the ranking. The bank has enriched its app with an option to change the code word and passport details, manage SMS alerts, buy insurance products, order reissue of cards, and close accounts. Users can now repeat their transfers and payments from the history, pay for goods and services by scanning QR codes, make an end-to-end search and try other convenient tools".

"Recognition of our efforts in such a strategically important area as remote banking service encourages us to go further and create products which satisfy best our customers' needs. We tirelessly develop MKB Online, adding financial services and lifestyle banking options. Our plans include further personalisation of customer transactions, fine-tuning of product offerings using big data and customer journey analysis, as well as the launch of spending control and saving recommendations," underlined Alexey Okhorzin, head of the Retail and Electronic Business Directorate.

The mobile applications of all financial organisations covered by Markswebb's survey were evaluated by three business models: introduction of new functionalities in digital offices, facilitation of daily banking and development of mobile banking as the core of an ecosystem with a vast partner network. The final score was the weighted sum of the three sub-scores.

Today MKB Online is actively used by c. 60% of customers and this ratio is growing constantly. In the 11 months of 2021, the volume of operations made through MKB Online rose by more than 40% yoy. The number of operations increased by more than a third.

In 2021, the bank expanded MKB Online's functionality: it completed the integration with its brokerage app MKB Invest, delivered an app for premium customers, and implemented Faster Payments System-based services. Users can also view fiscal bills with the list of purchased items, open accumulation accounts, see a customised product mart and most frequent operations on the main screen, as well as lifestyle content in the Stories section.

MKB's mobile application now features the MKB Car service enabling users to buy insurance policies, pay fines, and book an appointment for maintenance. Travellers can now get more from the MKB Travel service: buy bus tickets, order plane and railway tickets, as well as rent a car through OneTwoTrip or book an accommodation through Booking.com.

For more information on the survey, click here.