World News Media Highlights Andorran Banking Sector in Latest Issue of World Finance

News provided by

Feb 27, 2020, 04:30 ET

LONDON, Feb. 27, 2020 /PRNewswire/ -- In the latest issue of World Finance magazine, MoraBanc's managing director Lluís Alsina Àlvarez examines the trends currently emerging in the Andorran banking industry and how they are pushing financial institutions in the country to modernise. In particular, the article examines how digital solutions have enabled banks to deliver better services for their clients.

"Society has welcomed the digital banking revolution because it gives the consumer more freedom: it brings access to services better suited to their needs and lets them choose how and when to acquire and use such products," Àlvarez wrote. "The banking system, both in Andorra and globally, must respond to these new consumer habits."

As a result of Andorra's small internal market – the principality has a population of just over 75,000 – it can be difficult for businesses to gain market share. In the banking industry, this has meant that organisations have had to launch high-value, differentiated and personalised services in order to engage new clients.

In his piece for World Finance, Àlvarez explained that his company has been able to evolve to meet shifting customer demands by making a digital mindset an essential part of the company's culture. In order to achieve this, MoraBanc has implemented a two-fold strategy that has involved streamlining its decision-making process and integrating new methodologies in the design and creation of its products and services.

The process of digital transformation has required significant amounts of time, money and hard work, but it appears to be paying off. Across 2019, MoraBanc invested $5.54m in digital banking, a decision that was vindicated when it was named Best Consumer Digital Bank in Andorra at the World Finance Digital Banking Awards 2019. As part of the same set of awards, the bank's digital credentials were given further endorsement when the MoraBanc App was named Best Mobile Banking App in Andorra.

For more on MoraBanc and the broader developments within the Andorran banking sector, check out the latest edition of World Finance, available in print, on tablet and online now.

www.worldfinance.com

World News Media, the parent company of World Finance, is a leading publisher of quality financial and business magazines, which enjoys a global distribution network that includes subscriber lists of prominent decision-makers around the world.

Contact Information

World News Media
Barclay Ballard
Editorial Department
+44-(0)-20-7553-4177
[email protected]

SOURCE World News Media