Polish bank mBank won bronze in the Operational Efficiency category at the Qorus Reinvention Awards – Europe 2024 for ‘Conversion-Boosting Mechanisms in Paynow’. Dariusz Nalepa and Jarosław Stefański, the two leaders behind this winning project, present it to us and talk about how proud they are to have brought this trophy home.
Can you introduce yourselves and tell us more about your roles at mBank?
Dariusz: I’m the Director of the Transaction Banking Department at mBank. I am responsible for several business units that provide cash management solutions to clients, including efficient e-commerce payments through Paynow Gateway.
Jarosław: I'm the CEO at mElements, a fintech venture powered by mBank, dedicated to revolutionizing e-commerce payments. My role orbits around strategic leadership, driving innovation and pushing our team to excel in delivering top-notch, secure and efficient payment solutions in a highly competitive Polish market.
What made you most proud of the ‘Conversion-Boosting Mechanisms in Paynow’ project? What was your greatest achievement in making it happen?
Jarosław: What truly makes me proud is how we've dialed up the user experience, directly translating into higher conversion rates for our clients. We're on a mission to shift financial services from being an afterthought to a strategic advantage for our merchants. This means providing insights and tools that directly impact their bottom line, streamline operations and open new revenue streams. It's about understanding and acting on the broader challenges and opportunities our merchants face, ensuring financial services become a pillar of their growth strategy.
What is the most important thing you would tell someone considering embarking on a similar project?
Jarosław: Diving deep into understanding the end-user's needs and challenges AND attracting the right talent are pivotal to success. We're cultivating an environment where innovation thrives, ideas are valued, and everyone's contribution moves the needle.
What's coming next for the ‘Conversion-Boosting Mechanisms in Paynow’ project?
Jarosław: We're setting our sights on incorporating AI and machine learning to offer even more personalized and predictive checkout experiences. Also, we're keen on embracing new payment methods made possible under upcoming regulatory standards. Our vision is to continuously adapt and pioneer solutions that meet the evolving demands of merchants and consumers alike.
What would you say to companies that might consider entering the 2024 Banking Innovation Awards?
Dariusz: In my opinion it was a great opportunity to be part of this event. I met a lot of inspiring people and business models from around the world. A place on the podium at the Qorus Gala is a reward for our daily commitment to innovation and striving for excellence.
What does this award mean to you and your innovation team?
Dariusz: Our work on mechanisms to increase conversion at Paynow was recognized as one of the three best initiatives in the Operational Efficiency category. The distinction confirms that we have an impact on the European banking sector and our initiatives have global significance. More innovations lie ahead. Keep your fingers crossed for further successes!
Submit until 21 June 2024 for the next Awards edition
