piraeus bank group

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Summary

Piraeus Bank puts special emphasis on customer service and relations to ensure their satisfaction. It ensures transparency and clarity of transactions with its customers, both existing and potential ones. It fully complies with the Banking Codes of Conduct which were enacted by inter-bank collaboration under the auspices of the Hellenic Bank Association and govern relations between banks and customers, at all stages of the processes of creation, promotion and provision of products.

Transparency of Transactions

In the framework defined by national and European legislation and by the Bank’s internal policy rules and regulations, the Bank ensures direct, clear and complete informing of its customers on the terms which govern the services it provides. In particular, Piraeus Bank is fully compliant with:

  • EU Payment System Directive 2007/64/EC regarding payment services at a European level,
  • EU Directive 2008/48 on consumer credit agreements, as agreed on by the European Consumer Associations and the European Credit Sector Associations.

At the same time, the Bank ensures complete pre-contractual information provision regarding mortgages.

In order to further protect its customers from the potential risks of ignorance or misunderstanding of the terms of its products and services, the Bank:

  • provides complete and accurate description of these
  • takes care to systematically familiarize its customers with banking terminology,
  • provides easier access to information by means of new technologies.
  • accurately defines these without exaggeration inaccurate or misleading statements;
  • avoids their excessive promotion; and
  • does not take advantage of the public’s ignorance, inexperience or fears.

Individualization of Products

Piraeus Bank places particular importance on individualized products and services for its customers, examining individually the needs of each customer, who is perceived as a separate entity with its own particularity and dynamics. Indicatively, this individualized customer service includes:

  • the possibility of a new loan;
  • a balance transfer program with more favourable terms;
  • a new banking relationship model - Piraeus Axia Personal Banking- which consists of individualized organization of a customer’s complete banking relationship: regular transactions, financial check-up, financial planning and monitoring of their portfolio. This service is undertaken by the specialized Bank executive of the Relationship Management Service.

The services provided by the Bank are designed and implemented with the customers’ best interest in mind and are aimed at:

  • complete and concerted support from all service channels;
  • a targeted approach at developing and managing the customers’ portfolio; and
  • facilitating customers’ access to banking services.

Indicative of the final aim is the winbank mobile application, which became available to various cell phone types (iPhone, Android etc) with which everyone (including users who are not registered Bank customers) can easily pay their bills (electricity, phone etc) by means of innovative methods such as, barcode scanning and direct cell phone imaging of the bill.

Customer Support

In the last few years, Piraeus Bank has been developing initiatives to support its individual and business customers who have been adversely affected by the difficult market conditions by strengthening its refinancing and debt adjustment programs to relieve them.

The aim of these programs is to provide customers with a multitude of proposals and choices to assist them.

One of the services which reflect the Bank’s ability to provide solutions to their customers’ current needs is the Consumer Loan due Financial Obligations to the State, with a low interest rate and long repayment period. The greatest advantage of this product is that it gives customers the benefit of tax deduction as they make a one-off payment of the amount.

Security of Transactions

Particular emphasis is placed on matters concerning customer personal and bank data protection. The Bank created a new, innovative - for Greek standards - service “Piraeus Customer Protection”. This service aims to offer direct coverage of customers in case of data loss or theft anywhere in the world and offers, among others:

  • cancellation of cards of all banks;
  • transaction monitoring for fraud prevention;
  • direct dispatch of cash and card replacement;
  • coverage of unwanted charges; and
  • coverage of the cost of replacing personal belongings.

Piraeus Bank’s commitment to strengthening its clients’ trust and protection is also reflected in the Bank’s online transactions. In particular, Piraeus Bank received PCI DSS Certification regarding data protection of e-transactions by credit and debit cards as well as the protection of the card-holders’ personal details. It is noteworthy that Piraeus Bank is the first Greek Bank to receive such certification.

Enhancement of Entrepreneurship

Piraeus Bank Group supports businesses both in Greece and in the other countries with Group presence in a multitude of ways and at all different stages of development. Indicatively, via private equity and venture capital projects and advisory services, the Group was present at all stages of enhancement of entrepreneurship and innovation with:

  • investments in new businesses through its subsidiary’s O.F. Investments collaboration with Open fund, which covers the first steps of a business. In 2011, investments in 9 newly-founded companies in the field of technology were completed;
  • equity investments in Renewable Energy Sources (RES) in SE Europe and mainly in countries with strong Group presence, by means of Piraeus Clean Energy LP capital stock;
  • support of 6 companies in the fields of technology, renewable energy and the environment as well as other specialized fields of the Greek economy involved in exports, through the Piraeus – TANEO Capital Fund (PTCF).

Customer Service and Ombudsman for Banking-Investment Services

In response to the institution of the Banking Ombudsman, the Bank has set up a Customer Service, the tasks of which are to review and settle any grievances or complaints of Bank customers and provide information and clarifications with respect to banking services and products offered. It has established a mechanism to receive and immediately investigate customer concerns: through a simple process, customers can choose one of the numerous means of communication to address their concern - at a branch, by phone, fax, internet - in order to receive the appropriate responses-clarifications.

Customer Satisfaction

Since 2001, Piraeus Bank systematically conducts customer satisfaction surveys annually. Through this process the Bank gathers valuable information which is based around its customers’ satisfaction regarding its services and products both overall and in particular customer perception indices. Ιt is Piraeus Bank’s constant aim to maintain a high degree of customer satisfaction.

The survey for the year 2013 was conducted by the market research company TNS, in a sample of 15,300 Piraeus’ customers via phone interviews, thus covering geographically a great part of the Greek periphery. It should be noted that this survey is the first measurement post the completion of the absorption of all banking operations that were acquired by Piraeus Bank in Greece in 2013.

Regarding the overall customer experience of Piraeus Bank, the results are positive, as 58% of the interviewed customers assessed their overall experience with the Bank as “excellent/very good” and 33% as “good” while only 1.5% evaluated it as being “bad”. Although in recent years, and particularly in Greece the public maintains relatively a negative attitude towards banking institutions, eight out of ten customers prefer “strongly” to “very strongly” Piraeus Bank than any other bank.

Focusing on the Bank’s distribution channels and the overall customer satisfaction regarding the servicing experience provided by their main branch, both staff politeness and expertise scored high. In terms of “providing complete information from the beginning on the terms of the transaction” a measurement of transparency -it is worth mentioning that only 1% of the total customers that were interviewed perceive their total experience as a “bad” whereas 67% of the customers grade it as “excellent/very good”.