mBank Profile
mBank S.A. (mBank) provides banking services and consulting and advisory services. The company operates as a subsidiary of Commerzbank AG.
The bank operates within the scope of corporate, institutional and retail banking (including private banking) throughout the whole country and operates trade and investment activities, as well as brokerage activities.
The bank provides services to legal and natural persons, domestic and foreign, both in PLN and in foreign currencies. The bank conducts retail banking business in the Czech Republic and Slovakia through its foreign mBank branches in these countries.
Trust and Fiduciary Activities
The company operates trust and fiduciary activities, including domestic and foreign securities and services provided to investment and pension funds.
The bank provides custody, trustee, corporate administration, investment management and advisory services to third parties.
The bank has also intensified activities related to implementing required changes to WIBOR based contracts with retail and corporate customers.
mBank conducts business based on the universal banking model, specializing in servicing all client groups. It offers retail, corporate and investment banking, as well as other financial services, such as leasing, factoring, financing of commercial real estate, brokerage operations, wealth management, corporate finance and advisory in the scope of capital markets. Services provided under mBank logo are marked with different colours, depending on the target group of the offer.
mBank offers its services not only in Poland, but also in the Czech Republic and Slovakia.
Retail Banking Area
mBank’s Retail Banking segment serves 5,642 thousand individual clients and microenterprises in Poland, the Czech Republic and Slovakia online, directly through the call centre, via mobile banking and other state-of-the-art technological solutions, as well as in a wide network of branches. The bank offers a broad range of products and services including current and savings accounts, accounts for microenterprises, credit products, deposit products, payment cards, investment products, insurance products, brokerage services, and leasing for microenterprises.
Retail Banking of mBank in Poland
Retail Banking Offer for Individuals
In April 2022, the company launched Personal Finance Management (PFM), a new tool helping clients manage and understand their finances and household budgets.
The company’s solutions focus on high quality of service and a wide range of banking products.
In 2022, mBank continued to develop its bancassurance cooperation with the strategic partner UNIQA. The partnership covers sales of insurance products to mBank clients with a focus on stand-alone products, including car insurance, travel insurance, home insurance, life and health insurance, new e-commerce insurance, secure payment, and online shopping’.
Products and Services for Small and Medium-Sized Enterprises
In 2022, the company developed a strong presence in the enterprise sector thanks to the company’s business account offer with a two-year ‘no fee’ guarantee. In pursuit of the strategy initiated in 2021, the company focused on promoting additional services.
The company offers one of the most attractive accounts for such companies on the market. As part of these efforts, the company also introduced:
An option for clients interested in starting business in this legal form to use the company’s expertise in the registration process. As part of the initiative, an mBank partner (cashDirector) offers free-of-charge consultations on accounting matters, as well as technical support and expertise to the company’s clients in the registration process via the S24 system;
mOrganizer Finansów (Finance mOrganiser) for the full accounting system, which makes it possible for limited liability companies to use the product. Owing to integration with the mBank business account, entrepreneurs can issue invoices, monitor payments and automatically match transactions with invoices; and
An option for business clients to obtain a corporate loan in remote channels.
In 2022, the company introduced eco-financing in the scope of both secured and non-secured loans.
In Q4 2022, together with the company’s partner, Visa, the company started working on an extensive campaign aimed at supporting enterprising women. As part of the initiative, the company is preparing a series of TV programmes centered on successful businesswomen.
In 2022, the company continued to support enterprises in the e-commerce segment. The company extended its cooperation with Allegro. The company offers attractive terms of business accounts to entrepreneurs when they set up an account in the online store as well.
The company is developing the Paynow payment gateway. In 2022, the company provided its clients with online access to government services by expanding the mojeID (myID) functionality. The company also became an identity provider for the mSzafir qualified electronic signature.
In 2022, the company introduced SoftPos payment terminals into the company’s product range. Thus, the terminal is always available to a client on their smartphone or tablet.
Retail Banking in the Czech Republic and Slovakia
Main focus of mBank´s foreign branches in the second half of 2022 was on strengthening its digital offer in the payment area and preparing the launch of the offer for micro and small enterprises in 2023. mBank was the first bank on the Czech and Slovak markets to digitalize its whole portfolio of cards.
Corporate and Investment Banking Area
The Corporate and Investment Banking segment serves 33,025 corporate clients, including large enterprises (K1 - annual sales exceeding PLN 1 billion), mid-sized enterprises (K2 - annual sales of PLN 50 million – PLN 1 billion), and small enterprises (K3 - annual sales below PLN 50 million, full accounting) through a network of dedicated 43 branches. mBank’s offer of products and services for corporate clients focuses on traditional banking products and services (including corporate accounts, domestic and international money transfers, payment cards, cash services, and liquidity management products), corporate finance products, hedging instruments, equity capital market (ECM) services, debt capital market (DCM) instruments, mergers and acquisitions (M&A), leasing and factoring.
Corporate and Investment Banking of mBank
The mBank CompanyMobile app
mBank CompanyMobile is an app for corporate clients, which offers a modern design and an entirely new experience for smartphone users. In 2022, the company worked intensively, among other things, on further development of the payment module in the mobile app. In response to the company’s clients’ requests, the company added the two most popular types of transfers, i.e. a domestic transfer (including split payment) and a transfer between own accounts, thus enabling them to take full advantage of the app.
Apart from regular transfers, the company introduced the option to quickly send money to the originator of an incoming transfer and making a transfer again. Additionally, the company enabled clients to download a confirmation of transfer execution. In the mobile app, clients can enter and send instant transfers (Express Elixir or BlueCash), transfers settled in sessions (Elixir) and large-value transfers (Sorbnet).
Digital Onboarding of Corporate Clients
In 2020, the company introduced a fully digital process of establishing business relations with new corporate clients. This is a platform for modern sales interactions with clients. It enables digital onboarding of clients and gives them access to most of the transactional banking products, in particular bank accounts accessible in the electronic banking system, cards and cash services. By using the platform, the company confirms clients’ identity remotely without them having to visit a branch or complete paper formalities.
In 2022, the company also continued to work on the digitalization of the process of onboarding corporate clients by way of conclusion of the Integrated Bank Account Agreement (ZURB). In this period, the company remotely concluded over 3,400 ZURB agreements via its client onboarding portal. On average, the company concluded 73% of these agreements digitally. In 2022, the company also launched a new generator of ZURB documentation, including documentation to be signed using the qualified signature. The company extended the process by enabling the servicing of clients operating under other legal forms, while at the same time optimizing and automating operational processes. In the coming year, apart from making new services and products available in digital ZURB onboarding, the company is also planning to further automate the process.
The Green ESG Leaf for Business Cards and Onboarding
In 2022, the company introduced a ‘Green Leaf’, which is a symbol of mBank’s products and services that support ecology. The company’s remote corporate client onboarding process, which allows companies to sign the account agreement completely online, has been marked with the Green Leaf ‘less paper’.
Virtual Branch
The Virtual Branch is an integral part of the mBank CompanyNet system. Clients can use it to submit electronic applications pertaining to the key areas of cooperation with the bank and handle most of their matters. The company wants its clients to be able to do as much as possible on their own. The company is working intensively on digitalizing and automating mass processes; this way, the company protects the natural environment by reducing paper use and save time and other resources. The company’s system, mBank CompanyNet, is constantly expanded with new modules and functions.
Online Assistant – CompanyNet Cobrowsing
In H2 2022, the company launched a new service called Online Assistant dedicated to corporate clients. First, the company ran a pilot to test the service and then made it available to all clients in Q4 2022. Corporate clients can use the service while working in mBank CompanyNet. Online Assistant enables safe, quick and convenient communication with the bank via a text chat. In addition, clients have the option to share their mBank CompanyNet screen with the company’s Customer Centre consultants, who can guide them through the system during a chat. This solution received an enthusiastic welcome from mCN users.
Paynow Payment Gateway
The volume of transactions processed through the online payment gateway is on the rise and the company continues efforts to increase the group of clients actively using the Paynow service. The volume of corporate clients transactions through Paynow tripled compared with 2021. The company is constantly developing the technology and broadening the range of functionalities supporting the conversion to remote channels.
In 2022, the company launched the Collect service. It offers unique value to companies which need to receive payments to individual bank accounts of their clients.
Custody Services
mBank provides services, including settlement of transactions in securities registered in local and foreign markets; safe-keeping of clients’ assets; maintenance of securities accounts and registers of securities in non-public trading; maintenance of asset registers of pension funds and investment funds; and monitoring the valuation of clients’ assets.
mBank’s custody clients are mainly local and foreign financial institutions, in particular investment and pension funds, other banks offering custodian and investment services, insurance companies, asset management institutions and nonfinancial institutions.
History
The company was founded in 1986. It was incorporated in 1986. The company was formerly known as BRE Bank S.A. and changed its name to mBank S.A. in 2013.
