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Editorial

Dear valued readers,

Today we share with you the unaudited consolidated results for the nine months ending 30 September 2017 that our Group, 4 finance, has announced earlier this week, supported by comments by Mark Ruddock, CEO of 4finance.

We shall Meet & Greet Ionut Sabadac, Head of Point of Sale Financing and main contributor to the Bankly project and new POS working flow implemented in Romania.

You will learn more how Black Friday – the biggest shopping event of the year in Romania, was branded. We shall also speak about how we can help optimize the business processes by submitting our great ideas in the new Helpdesk functionality that has just been developed. And, … get rewarded if our idea is successfully implemented.

We shall also share with you why our Senior Vice President, Lending and Distribution – Gergana Staykova met the Bulgarian Vice President, Ilyana Iotova.

If you are eager to learn more about Dobrodea region, our colleague Daniel Popa will be our kind tourist guide to take us around.

Desislava Mihova,
Internal Communication manager

TOP FLOOR

4FINANCE REPORTS RESULTS FOR THE NINE MONTHS ENDING 30 SEPTEMBER 2017

INTEREST INCOME UP 14%, PRE-TAX PROFIT €49.5 MILLION, STRONG QUARTERLY ORIGINATION

4finance Holding S.A. (the ‘Group’ or ‘4finance’), Europe’s largest online and mobile consumer lending group, part of which is TBI Bank, announces unaudited consolidated results for the nine months ending 30 September 2017. You may find out more about the Financial and Operational Highlights on the official website.

Mark Ruddock, CEO of 4finance, commented: “These results evidence our focus on returning to profitable growth, the highest organic quarterly growth in two years. With interest income growth of 14% year-on-year and profit before tax of €49.5 million for 9M 2017, our year to date performance remains solid. The significant quarterly reduction in the cost to income ratio demonstrates our drive to optimize performance. “We have strengthened our executive committee, adding our regional and bank leaders, enabling us to leverage direct experience from the field and streamline our decision making.”

MEET & GREET

Bankly project: Our goal  is to become the market leader in POS lending

Today we speak with Ionut Sabadac, Head of Point of Sale Financing and main contributor to the Bankly project and new POS workflow implemented in Romania.

Ionut, please share with us more on what Bankly is and what the expected outcome is?

The Bankly application was created and implemented so that we have a market competitive front-end solution which provides answers (Time to Yes) within ~ 20 minutes. For comparison, before Bankly, this time was 1 day.  The new application together with the entire workflow is making an impact in 3 main directions:

–          Merchant experience: now the merchants can move much faster and sell/release their goods to applicants. With the new application, we provide them with a really efficient solution that will gradually become their preferred financial provider

MEET & GREET

Bankly project: Our goal  is to become the market leader in POS lending

Today we speak with Ionut Sabadac, Head of Point of Sale Financing and main contributor to the Bankly project and new POS workflow implemented in Romania.

Ionut, please share with us more on what Bankly is and what the expected outcome is?
–          Merchant experience: now the merchants can move much faster and sell/release their goods to applicants. With the new application we provide them with a really efficient solution that will gradually become their preferred financial providerThe Bankly application was created and implemented so that we have a market competitive front-end solution which provides answers (Time to Yes) within ~ 20 minutes. For comparison, before Bankly, this time was 1 day.  The new application together with the entire workflow is making an impact in 3 main directions:

–          Customer/applicant experience – the customers/applicants will no longer wait a long time to know if their credit request has been approved or not.. In less than an hour the customers can go home with their needed goods and credit contract. Another advantage is that the process is end-to-end within the merchant store. Before we had Bankly, applicants had to visit a TBI branch where our colleagues had to complete an application, sign the contract and after that return to the store to pick up their goods.

–          TBI experience/working process – most importantly, with the new application, the experience for us is much better because we have minimized the sales people’s manual work. Thus we are now prepared to approach big players from the Romanian market for partnership.

The Business analyst from our Lean Office, and project manager of the Bankly project, Olexander Kyslashko, also adds: “The general philosophy of the applications for the bank’s agents and employees should follow certain principles. It should be a fully functional workplace: comfortable as the best chair and as versatile as a Swiss army knife. That’s why in the functional specifications and design we tried to make the best visualizations of the achieved results, plans and concrete portfolio structure in the statistical corner, and lead the merchant through the whole application process with intuitive messages in an already simplified path to faster approval. Enjoy Bankly!”

Thank you, Sasha. To summarise, this new application is a very user-friendly, very intuitive and very fast way to complete an application – a great advantage to beat the competition.

What happens with the credit documentation?  

 We have changed the credit documentation and it’s no longer necessary for TBI salespeople or merchants to sign the credit contracts on behalf of TBI Credit. Now, the contracts are pre-signed and we only need the customers’ signature.

As we all know, ‘Being orange does not stop us thinking green’ and we have significantly reduced the number of pages that customers have to sign or merchants to print out.

Have you optimized the pickup flow of credit contracts?

Yes, we’ve optimized this as well as we always try to think of our colleagues first! We have completely changed the flow. TBI sales staff will no longer have to visit the merchants for picking up the credit contracts and sent them from the TBI branches to Bucharest for the merchant’s payment and contract archiving. It was a real effort for the sales staff but also a bad experience for merchants because they had to wait for the TBI sales staff to pick up the contracts, send them to TBI HQ and only then receive the payment.   Now, we have signed a contract with a courier and the merchants just call them, they immediately come to pick up the credit contracts and deliver them to TBI HQ

 How do you promote this with the POS?

 We have created information bulletins promoting the in-store loans – Credit Instant so that all merchants stores are informed regarding anything new.

Is it enough to be competitive on the market?

 Bankly, credit documentation, courier, and POS materials are not enough to be competitive. We have identified that we need to change the financial products from scratch. Having in mind that the selling part used to be inside TBI, now, by implementing the Bankly application, the selling part/process will belong to merchants. This means that we had to create very simple standard financial products so that our merchants & their employees understand them and know how to promote them to their clients.

Have you envisaged any training to help the merchants and TBI staff?

 There were many changes and we are putting all the information into a training manual and a short 2 minutes video tutorial to help all parties concerned. To make life easier for everyone, we will, of course, provide system support and notification about further steps.

When did you launch Bankly?

Bankly pilot was launched in September and the first half of October. As of 1st of November, we have launched it in Altex – our major Electrical-IT retailer and gradually in small merchants.

What is your main success factor?

 The main success factor is no doubt our team – all the talented girls and boys who have devoted time, effort and most of all passion into making it happen. Our special thanks go to Denys Torop, Silviu Manolache, Oleksandr Kyslashko, Ionut Barsan, TBI Management Team, POS team members and the TBI Credit board. Our goal is to become the market leader in POS lending – as the first phase with local merchants business in 2018, and support from each of you is crucial.

IN FOCUS

Black Friday is TBI branded: The biggest shopping event of the year in Romania!

Black Friday is mainly popular with the US and getting speed in Europe, but in Romania, it’s a real rush!

Having started on the 16th of November, the biggest retailers are offering crazy sales that Romanians cannot lose!

This month is all about getting the best offers and impressive discounts and here, at TBI Bank we constantly offer the best solutions for our customers to meet their needs.

Starting as from 11th until 30th November 2017, we’ll be celebrating Black Friday with our clients giving away 20 Equal, Easy Installments/ 20 minutes Approval / 20 Black Friday Days.

You will recognize us in all our partners’ stores – small merchants, that are teasingly branded with our dedicated merchandising kit, highlighting the campaign.

INSIDER

Do you have an idea? Lead the change, shape the future, and get REWARDED

In our 5th edition of the bulletin, we shared with you that we needed an easy process of collecting and growing new ideas to solve existing problems and discover new opportunities, and we wanted to give you all the chance to be involved.

Now it’s life: the place where ideas are collected from around the company, evaluated and considered for development; the place to maintain a backlog of ideas where we can identify innovative ones, process, review, evaluate and make strategic decisions around the ones we want to move forward with. We can then initiate projects and implement them.

Invitation: We are happy to present you with the brand new functionality in the Help Desk for receiving your great ideas! And you are officially invited to contribute!

Easy, quick, just a click away: we made it as simple as possible for YOU to contribute to the future of our organization.

Please remember: there are no bad ideas! All ideas are welcome, we will evaluate them, treat them fairly in full transparency and further develop them together.

INSIDER

Do you have an idea? Lead the change, shape the future, and get REWARDED

In our 5th edition of the bulletin, we shared with you that we needed an easy process of collecting and growing new ideas to solve existing problems and discover new opportunities, and we wanted to give you all the chance to be involved.

Now it’s life: the place where ideas are collected from around the company, evaluated and considered for development; the place to maintain a backlog of ideas where we can identify innovative ones, process, review, evaluate and make strategic decisions around the ones we want to move forward with. We can then initiate projects and implement them.

Invitation: We are happy to present you with the brand new functionality in the Help Desk for receiving your great ideas! And you are officially invited to contribute!

Easy, quick, just a click away: we made it as simple as possible for YOU to contribute to the future of our organization.

Please remember: there are no bad ideas! All ideas are welcome, we will evaluate them, treat them fairly in full transparency and further develop them together. YOU, the idea initiator, will be involved in the whole process of proposed changes – from the generation of the idea through to its implementation.

REWARD: those ideas being successfully implemented, will be rewarded from the monthly/annual benefits – 30% to the initiator and responsible department, 20% to the idea implementation team. The bonus can be in the form of a gift or team building.

How it works: it’s really easy & simple, but you have to figure it out first. You make a proposal using the Help desk platform on the Intranet by filling in a template. The Lean office analyses the affected processes, scope, and participants and distributes the proposal with comments to all participants, IT and Finance. After receiving feedback, the Ideas management team approves the method of implementation, responsible person and target KPI, OR rejects the proposal. The approved ideas are implemented according to our regulations. Responsible persons are dedicated to participating in the implementation of the approved idea within the respective terms.  The idea’s initiator takes part in the full implementation process, dedicating their time, competences and efforts.  If you have any questions, please address them HERE

Make it happen: Put your thinking caps on, generate ideas and reward yourself or your team! Bulgaria, submit your ideas here Romania, submit your ideas here

FOR YOU

“How to procure Goods & Services in 4 steps” with Todor Nenchev

“To have Permission, you need signed Definition,” says Todor Nenchev, Head of procurement, who joined TBI Bank in April to establish our effective procurement processes. His primary role is far beyond helping us all obtain goods and services in response to our increasing internal needs. At the current environment, all organizations tend to be sustainable, to have their growth and to manage the risk. Procurement function is an integral part of these organizational trends and covers the correct budget spends. The important role of the Procurement is to provide a uniform set of standards and principles for maximizing the effectiveness of sourcing and procurement practices across TBI Bank in order to achieve effective budgets spent.  Todor is implementing this effective procurement process to ensure that payments are executed only for goods and services that are approved and all internal rules are followed. He provides guidelines and supports all departments in our spends. Through effective use of the already implemented tender process, the procurement function manages supplier partnerships and optimizes assets and capital utilization.

“The important task of strictly following our internal procedures often doesn’t get the respect it deserves. Most people recognize the need to, but often get into the desire to skip it.” says Todor who will show us in 4 easy steps …

For You

“How to procure Goods & Services in 4 steps” with Todor Nenchev

“To have Permission, you need signed Definition,” says Todor Nenchev, Head of procurement, who joined TBI Bank in April to establish our effective procurement processes. His primary role is far beyond helping us all obtain goods and services in response to our increasing internal needs. In the current environment, all organizations tend to be sustainable, to have their growth and to manage the risk. Procurement function is an integral part of these organizational trends and covers the correct budget spends. The important role of the Procurement is to provide a uniform set of standards and principles for maximizing the effectiveness of sourcing and procurement practices across TBI Bank in order to achieve effective budgets spent.  Todor is implementing this effective procurement process to ensure that payments are executed only for goods and services that are approved and all internal rules are followed. He provides guidelines and supports all departments in our spends. Through effective use of the already implemented tender process, the procurement function manages supplier partnerships and optimizes assets and capital utilization.

“The important task of strictly following our internal procedures often doesn’t get the respect it deserves. Most people recognize the need to, but often get into the desire to skip it,” says Todor who will show us in 4 easy steps how to follow the procedure of Contracts/Tenders without violating our internal rules (e.g. by presenting us invoices before having Definition Document/ expense approval signed):

  1. You (originator) recognize the need;
  2. Fill in a Definition Document;
  3. Thresholds:

Over 5000 Euros w/o VAT, a Tender (unless the case is exception defined under the procedure) + Contract, are mandatory (Procurement/Originator)

Attention: Contract should be verified with – Procurement, Legal, Finance Control, and Accounting

Below 5000 Euros w/o VAT – 3 offers + comparison table (Originator/Procurement)

  1. Preparation of “Verification Draft of Contract List”  (Procurement/Originator)

“We have already gone through the procure to pay process and can reassure you that it’s not a rocket science” shared Nadezda Laskova, head of payroll and administration.

In case you have any questions or need some help, we are always happy to support you, drop us a line –  Todor Nenchev – Head of procurement, in charge for contracts/tenders, and Ognian Koev – Head of Finance Control, responsible for Cost Controlling.

DID YOU KNOW?

Our Senior Vice President, Lending and Distribution – Gergana Staykova meets the Bulgarian Vice President

Our Vice President, Lending and Distribution – Gergana Staykova, took part in a meeting between Vice President Iliyana Yotova and representatives of banks, insurance and pension companies, held on November 8th in the Presidency building.

She stated the position of the Bank as a socially responsible organization, willing and committed to integrating the social agenda into its business strategy.

“Public-private partnerships are among our preferred approach in our future social projects to give our corporate support in areas such as education, culture, healthcare, ecology, improving the financial culture of the population,” shared Mrs. Staykova in front of the vice president and the other representatives of financial institutions.

The social issues discussion with representatives from the banking sector was initiated by the Banker newspaper.

EAGER TO LEARN

A tour in Dobrodea with Daniel Popa, Agency Manager, Constanta

It’s my honor to take you around Dobrodea –the beautiful region located in Southeastern Romania – between the Danube River and the Black Sea, it’s the home to the Danube Delta, a 2,200-square-mile wildlife reserve designated by UNESCO as a “Reservation of the Biosphere;” the ancient port city of Constanta, and the seaside resorts stretching along Romania’s 152-mile Black Sea coast.

From the port city of Tulcea, day cruises through the Delta’s waterways give travelers a glimpse of the abundant wildlife and the traditional fishing villages. Floating reed islands, sand dunes, and waterways offer shelter to over 300 species of birds, countless fish and 1,150 species of plants.

South of the Delta, the historical city of Constanta serves as a major port on the Black Sea. Featuring several museums, historical monuments, fine mansions and a grand casino, the city is the focal point of Black Sea coast tourism. A strip of fine-sand beaches dotted with seaside resorts named after women and mythological gods stretches from Constanta to the Bulgarian border. The cuisine of Dobrogea, mainly based on fish, is a mix of Romanian, Greek, Turkish, Tartar and Bulgarian flavors, and recipes. One of the traditional dishes of the region is the Tripe Soup. The delicious local salad, called Salata Dobrogeana, is what our Bulgarian colleagues know as shepherds’ salad.

“So, you see, even separated by a border, there are no borders between us – one company, one family,” says Daniel.

QUOTE OF THE DAY

“Our goal is to become the market leader in POS lending” Ionut Sabadac

Write us back at tbi.inside@tbibank.bg and become our next TOURIST GUIDE, share your TALENT or HOBBY, or just let us know how you find the new edition of the bulletin.

Write us back at tbi.inside@tbibank.bg and become our next TOURIST GUIDE, share your TALENT or HOBBY, or just let us know how you find the new edition of the bulletin.

Write us back at tbi.inside@tbibank.bg and become our next TOURIST GUIDE, share your TALENT or HOBBY, or just let us know how you find the new edition of the bulletin.