mBank’s New Strategy: From the Icon of Mobility to the Icon of Possibilities

mBank’s new strategy From the Icon of Mobility to the Icon of Possibilities covers the period 2021-2025. It sets ambitious directions of development in response to how the world, clients and the organisation itself are changing. mBank intends to remain a digital leader providing secure and convenient banking services to clients. The ESG agenda covering environmental, social and corporate governance initiatives is an important part of the strategy. This multi-faceted area encompasses business and regulatory issues, relations with clients and business partners, as well as work environment and organisational culture. mBank’s ambition is to become an ESG leader.

To its retail clients mBank wants to be a financial partner for life. The bank will strongly focus on understanding the needs and changing preferences of clients in order to tailor its product range accordingly. Mortgages will be granted in a digital process, which the bank hopes will rank it among the top three lenders. Soon mBank will also launch its own investment fund company to cater for the needs of the wealthier clients. We will expand the offer for young clients. Our acquisition efforts will be focused on this age group, thus enabling us to maintain an attractive age structure of clients and acquire one million new clients by the end of 2025, says Cezary Kocik, Vice-President of mBank, Head of Retail Banking. Being a mobile banking leader, we want to move half of sales and customer service to the mobile channel over the next few years. We will achieve this goal by introducing new services in the app to help clients manage their affairs online, he adds. In the coming years the bank will launch a payment assistant to help clients manage their finances and will offer space for secure storage of clients’ documents. The bank will also support entrepreneurs and small businesses. It will provide them with a panel helping them run their day-to-day business, from administrative issues through accounting to legal matters.

mBank will strengthen its presence in the e-commerce segment. Its current favourable position will form a solid basis for continued growth. This includes supporting online sellers in both the retail and corporate segment (small and medium-sized enterprises). To achieve this goal the bank will unlock the potential of the well-known tools, such as the payment gateway Paynow and mDeals (mOkazje), to build an e-commerce platform dedicated to online sellers and buyers.

mBank’s corporate clients will be offered state-of-the-art electronic and mobile banking solutions based on self-service in remote channels. By 2025, 90 per cent of clients will sign agreements electronically. The credit process for corporate clients will undergo a major overhaul, making it more friendly and predictable. This will enable the bank to better respond to the business needs of corporate clients, and at the same time, to grow effectively and keep risk costs under control. We will allocate PLN 10 billion worth of capital to green industries such as renewable energy, electromobility or recycling. We want to be a leader of green transformation, says Adam Pers, Vice-President of mBank, Head of Corporate and Investment Banking. The bank will focus on clients from promising industries and support those that operate in traditional sectors in achieving their green transformation.

The ESG agenda is becoming increasingly more important in how financial institutions run their business. Within the lifetime of the strategy, it may become one of the key assessment criteria used by investors, employees and clients whose green transformation will be supported by the bank. That is why it is our ambition to become a sustainable banking leader, says Marek Lusztyn, Vice-President of mBank, Chief Risk Officer. Every new product will be assessed in terms of its impact on society and environment. In addition, the ESG aspects have been factored in to the criteria used to assess the performance of over 100 key managers at mBank. mBank will become fully climate neutral by 2050, and will achieve net zero greenhouse gas emissions in scope 1 and 2 by 2030.  In addition, the bank plans to replace its car fleet with low-emission vehicles, reduce waste, and continue eliminating paper and plastic cards from its processes. It will also continue to support social goals. These include playing with the Great Orchestra of Christmas Charity (WOŚP), financing maths education (mFoundation), and promoting young artists (“P for Painting” project).mBank intends to promote diversity in the workplace. It will work on the aspects that make mBank an attractive employer. The bank will focus on developing the skills of the future, in particular those connected with new technologies. Its ambition is to offer the best-in-class hybrid work environment. We are building a culture of trust and good intentions that will encourage our employees to look beyond the obvious, express their opinions openly, and take bold decisions. This is exactly a culture that inspires innovation, which will be crucial for the long-term growth of the bank, says Cezary Stypułkowski, mBank’s CEO.

Cybersecurity has become a critical priority in today’s world and mBank is ready to respond to this challenge. In this context we will make even greater use of machine learning and artificial intelligence. We will continue educational efforts and public awareness campaigns connected with online security, explains Krzysztof Dąbrowski, Vice-President of mBank, Head of Operations and Information Technology.
In addition, the bank will work on the quality and availability of its digital systems, which are crucial from the perspective of the clients using these platforms.

mBank will remain an efficiency leader with its cost-to-income ratio at approx. 40 per cent. The return on equity is expected to exceed 10 per cent. We run a profitable and mature business. The demographic profile of our clients is favourable and bodes well for the future. We have a technological advantage and are a highly efficient institution. All this forms a sound basis for future growth. Growth and profitability will be of utmost importance in the coming years, says Andreas Böger, Vice-President of mBank, Chief Financial Officer.Our new strategy will strengthen mBank’s position as one of the best financial institutions in Poland, and at the same time, will help improve mBank’s market valuation, making it attractive to investors, adds Cezary Stypułkowski. For employees mBank will be a good place to work, open to people and their needs. What will it be like for clients? Convenient, secure, forward-looking... It will be way more than just a mobile bank. It will be an icon of possibilities, adds mBank’s CEO.