Poland's Alior Bank has unveiled plans to trim its branch network and invest in technology in response to the rise of digital banking channels.

The bank currently has a network of 324 branches and 786 franchise outlets. It expects to reduce this figure to 200 branches and 680 franchise outlets by 2020. The remaining branches will be upgraded and equipped with mobile tools.

The bank also plans to invest PLN400m ($100.4m) in IT and innovation projects by 2020, which is on top of its existing spend in IT systems and infrastructure.

Alior said that it is currently working to deploy face and voice biometrics and artificial intelligence technologies, and will also use cloud-based solutions, blockchain and open-API banking / PSD2 tools.

The bank has also set a target of generating 40% of the total sales of key products through digital channels in the next three years.

Alior Bank CEO Wojciech Sobieraj said: “To face the technological revolution in the banking industry, the changing expectations of clients, and the competition, Alior Bank must transform from a financial firm with a strong IT angle into a fin-tech with a banking licence.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“This way, Alior Bank will maintain customer satisfaction, improve effectiveness, continue dynamic business growth and provide a satisfying return on equity to the shareholders.”