Poland’s Alior Bank signs cooperation deal to offer banking services to the 6 million customers of Telekom Romania

Poland’s Alior Bank said on Friday it had signed a co-operation deal to offer banking services to the 6 million customers of Deutsche Telekom’s Telekom Romania. According to Reuters, Telekom Romania will serve as an intermediary in providing Alior’s financial services to individuals and companies.

Polish Bank released an official statement regarding the agrement to offer more details: „The subject of the agreement is to authorize Telekom Romania Mobile Communication to act on behalf of the Alior Bank as an intermediary in providing financial services such as: opening and changes of banking accounts, overdrafts/limits, deposits, loans, cards, reach and change of other agreements agreed in the past between the Parties. These products are to be offered for individual clients, individual clients conducting business activities as well as companies and organizational units which do not constitute a legal entity active in micro, small business segment and large corporates. This venture will operate as an Alior Bank branch in Romania.”

The cooperation will entail offering clients most of existing banking products through all available channels utilizing technological synergies and competitive advantages derived from operating model of the bank and telecommunication company. It will be a continuation of a business cooperation between the Bank and T-Mobile, which enabled a T-Mobile Banking Services.

The Agreement has been concluded for a definite period of 5 years following its effective date, with automatic option to renew it for the next period(s) of 5 years.

The deal will „significantly boost client acquisition dynamics as well as the bank’s profitability,” Alior said in a statement.
Alior, in which Polish insurer PZU recently took a stake, signed a similar deal with Deutsche Telekom’s Polish unit T-Mobile Polska last year.