Raiffeisen Bank Belgrade & Blinking: Faster, safer, and simpler banking services

In recent years, the banking sector in Serbia has been undergoing an intensive digital transformation, following global trends and responding to growing customer demands for efficient, intuitive, and secure online services. An increasing number of users expect to be able to open an account, apply for a loan, or access other banking services without visiting a branch – from the comfort of their home and in just a few simple steps.

In parallel with evolving customer expectations, the regulatory framework in Serbia has provided significant support for the development of digital banking. Regulations governing remote contracting and the use of video identification have enabled banks to digitize their business processes more efficiently. According to the latest data from the National Bank of Serbia, in 2024, there was a remarkable increase in the use of digital banking services via video identification, with more than 140,000 remote contracts concluded – representing an increase of over 150 percent compared to 2023. This trend clearly shows that digital channels are becoming the primary choice for a growing number of clients in Serbia.

Raiffeisen Bank

As a leader in banking sector innovation, Raiffeisen Bank has recognized the importance of developing digital channels and delivering an exceptional customer experience. Guided by this vision, the bank is strategically enhancing its digital services, enabling clients to access all key products and services fully online, eliminating the need for physical presence in a branch.

By implementing advanced technological solutions such as video identification, Raiffeisen Bank allows its clients to open accounts, apply for loans, and access other banking services entirely online. This approach not only reflects alignment with global trends but also full compliance with regulatory requirements, positioning Raiffeisen Bank as an innovator in the Serbian digital banking market. Its continued commitment to digital transformation and business process modernization confirms its role as one of the key drivers of digital services growth in the country.

Blinking

A strategic partner to Raiffeisen Bank in the process of digital transformation is the domestic technology company Blinking, which has been successfully operating in the Southeast European market for eight years. With a strong understanding of the market’s specifics and the financial sector’s requirements, Blinking has developed a sophisticated digital identification solution that fully meets all aspects of current Serbian regulations.

What sets Blinking apart is its ability to translate complex regulatory requirements into a simple and intuitive process for end users. Through the use of advanced technologies and artificial intelligence, Raiffeisen Bank clients are able to go through the identification process efficiently and securely – without complications or unnecessary burden.

Miloš Milovanović, Blinking
Co-founder & COO – Blinking

“Combining Raiffeisen Bank’s expertise in banking services with the technical know-how of the Blinking team has laid the foundation for digital operations that ensure the highest level of security and user experience, fully aligned with regulatory requirements. This collaboration has enabled Raiffeisen Bank to fully digitize key processes such as account opening and loan applications, while also creating a solid base for the further development of new digital services that meet the evolving needs of modern users.

With the help of the Blinking Identify solution, Raiffeisen Bank has successfully transformed traditional counter services into fully digital processes, allowing end users to access all banking products and services without the need to visit a branch. Our mission is to support financial institutions in their digital transformation by providing them with reliable and innovative technological solutions to successfully meet increasingly demanding market needs and complex regulatory requirements,” stated Miloš Milovanović, Co-founder and COO at Blinking.

Since the beginning of the partnership, tens of thousands of Raiffeisen Bank clients have used the Blinking platform to quickly and easily access banking services through video identification. Customer feedback confirms that this approach not only saves time but also provides a high level of security and trust in digital processes.

Nebojša Jovanović, Raiffeisen Bank
Chief Product Officer – Raiffeisen Bank

“Thanks to a thoroughly optimized process, we have significantly reduced the time required to complete video identification, while the rate of repeated identifications has been reduced to a negligible level. Our primary goal was to simplify the process of contracting banking products and services remotely as much as possible for our clients. In addition, we achieved significant resource savings, as the identification process requires engagement from specially trained video identification agents. This enabled more efficient workforce allocation and reduced operational costs. This process optimization not only improves our operational efficiency but also contributes to greater customer satisfaction, which is crucial for maintaining competitiveness in the market,” emphasized Nebojša Jovanović, Chief Product Officer at Raiffeisen Bank.

The time required to open an account has been reduced to just 10–15 minutes, and the number of users opting for fully digital account opening continues to grow. This trend clearly indicates that clients recognize the benefits of modern digital services and are increasingly choosing online channels to access banking services. Moreover, thanks to the automation of identity and document verification, operators are relieved of routine tasks and can focus more on customer satisfaction.

Aleksandar Smiljković, Raiffeisen Bank
Chief Innovation Officer – Raiffeisen Bank

“The use of advanced digital solutions, such as Blinking, has enabled us to respond more effectively to the needs of our clients and to expand our offering with innovative products that have gained popularity, such as iRačun – the first fully digital current account on the market, and iKeš – the first fully online cash loan for both new and existing clients. In 2024, we successfully issued over 70,000 fully online products using video identification at some stage, with the highest number of identifications in a single day exceeding one thousand. These results would not have been possible without a high-quality and optimized process. In the upcoming period, we expect digital channels to become the dominant method for contracting banking products and services. We will continue working to make more products available entirely online, while striving to provide top-tier user experience, focusing on the value delivered to clients with minimal time and effort required on their part,” said Aleksandar Smiljković, Chief Innovation Officer at Raiffeisen Bank.

The digitalization of the banking sector in Serbia is a trend that will only accelerate in the coming years. Projects like this demonstrate how strategic partnerships between banks and technology companies can create tangible value for users. This successful partnership sets new standards in the field of digital identification in the Serbian market, confirming that the future of banking is digital.