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How digital is transforming CEE banking

Banks in emerging Europe have long outperformed many of their western peers in the race for digitalization – now a handful of pioneers are taking it to the next level and using technology to transform the banking landscape across the region.


When it comes to digital banking, central and eastern Europe has long punched well above its weight. 

Lenders in Poland, Turkey and Russia were light years ahead of their counterparts in western Europe in developing multichannel capabilities, while even tiny markets such as Slovakia have produced digital pioneers that have earned a place on the global stage. 

Now a handful of leading players are building on this heritage to transform banking in the region and reshape the competitive landscape. 

Some are constructing digital ecosystems to rival those of the Asian giants, while others are putting their faith in e-commerce as the future of banking. Some have embraced open banking and are focused on harnessing the power of fintechs, while others see in-house development as the key to digital supremacy. 

Possibly the most transformational development of the last few years, in a region of diverse and fragmented markets, has been the emergence of CEE’s first genuine multi-country digital platform.