Digitalization in banking is no longer only a technological issue; it is simultaneously a question of customer experience, trust and speed. Rajna Gábor, deputy CEO for retail at Raiffeisen Bank, summarizes this view: “long-term competitiveness will belong to those who can successfully combine digital channels with personal advice.”
In a Portfolio interview Rajna discussed how neobanks have reshaped the market, what makes a mobile bank successful, and in which situations human contact remains indispensable.
Neobanks' impact and the narrowing of customer experience gaps
According to Rajna, neobanks shook up the traditional banking sector by offering simpler, mobile-first services. At the same time, he says there is now “almost no difference between the customer experiences of traditional banks and neobanks,” because competition has pushed incumbents to rebuild processes along digital logic.
Raiffeisen was named Hungary’s best retail digital bank by Euromoney, an acknowledgment Rajna attributes not to a single feature but to a strategic direction that digitalizes whole customer journeys.
Digitalization today: more than account opening
Rajna emphasizes that digitalization cannot be limited to online account opening. It must cover the full customer-onboarding and servicing path: selecting account packages, requesting bank cards, handling declarations and know-your-customer questionnaires, and extending to loans and investment services.
He also notes that customers who try a well-functioning digital banking feature typically do not return to offline processes.
Where retail and micro-business banking meet
Many sole proprietors and small companies bank in ways similar to private individuals. Banks therefore must decide when retail-style digital service suffices and when a more corporate banking approach is required — a boundary with strategic implications.
Instant services and the limits of automation
A core expectation of a good digital banking experience today is immediacy: customers expect to resolve issues in minutes, even on weekends or when abroad — whether for currency exchange, credit-card applications, or mobile banking transactions.
Automation, including chatbots and AI, can provide fast help for routine matters. However, Rajna stresses that in banking it remains crucial to determine when more complex situations should be transferred to a human advisor.
Digital experience and switching banks
Hungarian customers have traditionally been loyal to their banks, but a poor customer experience or a cumbersome process can now strongly influence decisions to switch. Fast, stable online account opening and a reliable mobile app therefore offer competitive advantage.
The future: a hybrid model rather than exclusivity
Rajna concludes that the future will not belong solely to fully digital or exclusively in-person models. Competitiveness will favor banks that combine digital channels and personal advice effectively, building customer journeys grounded in digital logic while enabling human intervention when it is truly needed.
The article’s publication was supported by Raiffeisen Bank.
Cover image: Portfolio
