UniCredit Consumer Financing offers remote signing of consumer loan agreements

The health and the well-being of both customers and employees are a top priority of UniCredit Bulbank.

Therefore, the customers of UniCredit Consumer Financing can now sign their consumer loan agreement via Bulbank Mobile. All customers who apply for a consumer loan through the Call Center (short number 18484) and use the mobile banking application of UniCredit Bulbank may receive and sign their loan agreement following its approval without visiting a branch of the bank.

With the new digital service, a customer can electronically identify himself/herself for the bank in a secure and legal way by means of an electronic signature issued by Evrotrust.

“The aim of UniCredit in Bulgaria is to provide banking that matters in a simple way. The interest in digital banking services is growing steadily and we live up to these expectations.  Electronic signing of consumer loan papers via Bulbank Mobile is an innovative functionality that reflects the direction of the company’s development - to make banking easier for customers by providing simple and accessible services that also spare them some time.  The electronic signing of documents for a consumer loan is different from anything else on the market, because the customers go through the whole procedure of granting the loan using our mobile banking application only. The entire process is extremely fast and comprises several simple steps.  Following an electronic signing of the documents, it takes approximately 2 hours for the customer to receive  the loan on his/her account,” said Ivaylo Glavchovski, chief executive officer of UniCredit Consumer Financing.

According to a survey on the market of the company, the interest in digital banking services grew during the state of emergency declared in Bulgaria in relation to the Covid-19 spread. Since mid-March, the cases of electronic signing of consumer loan papers have doubled and the increasing trend is expected to continue.  

The survey also outlines the profile of the digital service users. They are up to 39 years old; 40% of them are from 30 to 39 years old, and 20% - 25-25 years old.  The income of customers who decide to sign the loan agreement digitally is between BGN 1,500 and BGN 2,500, while the average amount of the financing they need is BGN 5,000. Usually, customers state that they will use the loan to repair their home, buy furniture and consolidate their credit liabilities. 

“Over the last couple of months the team of the bank has been working hard to extend the range of products and services that we offer to our customers via our digital channels. Now, customers can open an account with UniCredit Bulbank without visiting a branch by just downloading Bulbank Mobile on their smart phone and following the steps for new account opening. Technologies make it possible for our customers to carry the bank in their phones and for us this is a natural step towards digitalization and simplification of banking services and products,” added Yulian Vlahov, head of Alternative channels department in UniCredit Bulbank.

Signing the consumer loan papers and opening an account for new customers are not the only digital services that the users of Bulbank Mobile can use. The bank's customers can take out a loan remotely via the mobile banking application of the bank. The digital overdraft has been accessible to the users of Bulbank Mobile since October 2019. Customers go through the entire procedure of granting the loan using the mobile banking application only. They receive a customized offer for a pre-approved overdraft through Bulbank Mobile, download and read the necessary documents and finally sign the agreement.

UniCredit Bulbank will continue following the situation closely and doing the right things in the interest of all.

Additional media information:

Ekaterina Ancheva, tel +359 (0) 2 9264 963, flbufsjob/bodifwbAvojdsfejuhspvq/ch

Beatris Nikolova, tel +359 (0) 2 9232 528, cfbusjt/ojlpmpwbAvojdsfejuhspvq/ch

Victoria Blajeva, tel +359 (0) 2 9264 993, wjlj/ebwjepwbAvojdsfejuhspvq/ch