MagNet Bank opens extraordinary unit for community banking

Analysis

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Hungarian MagNet Bank opened its first extraordinary “community bank” on November 9 in Budapestʼs District V, designed to resemble a café more than a bank, in which customers can arrange their financial matters and socialize at the same time, according to a press release issued by the bank.

The idea behind the opening of this extraordinary branch was to do away with the counter between clients and bank staff. Instead, clients can arrange their money matters in a friendly environment, where bank staff and clients both look at the same laptop screen, and learn how to operate NetBanking activities from home.

“For me the most important facet of this redesigned Community Point is the informality that the environment creates between the client and the bank. In fact, this is what community banking is about,” Gábor Pozsonyi, deputy CEO of MagNet Bank said.

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