Juraj Tlstý: Banks have already become technology-driven organizations

Interview for: www.magazinbiznis.rs

“Do banks become technology companies by introducing digital services” – that was the question for Juraj Tlstý, a Member of the Executive Board of Erste Bank a.d. Novi Sad in an interview for www.magazinbiznis.rs.

“In short – yes. Banks have already become technology-driven organizations, and in many ways they are evolving into technology companies. Areas such as artificial intelligence, cloud solutions, personalization, open banking and mobile applications are now among the main focuses of investment. These technologies not only shape the future of banking, but also open up new important sources of income, enabling clients with high-value digital services,” said Juraj Tlstý, who in an interview for our portal talks about the application of information technology in banking, especially in Erste Bank Novi Sad, where he arrived at the beginning of this year from Slovakia.

Erste Group has been using a digital banking assistant – George – for several years now. I recently read that about 10 million people worldwide use George, including 6 million in Europe. When will this application become available to users in Serbia?

“I am glad you mentioned George – I come from Slovenská sporiteľňa where I have been a satisfied George user for some time, and I am very proud to announce we already rolled it out for a limited set of users at Erste Bank Serbia. Additional groups will be joining our George family in the upcoming months, and the plan is for George to become available to all our customers in the second quarter of 2026. For now, we are focused on making sure everything is working smoothly, as this solution is a significant upgrade compared to our current mBanking solution”.

What are the experiences of users who already use George?

“With ratings between 4.7 and 4.9 in app stores across all Erste countries, George is consistently among the highest-rated banking applications on the market. And for a good reason – it’s much more than just a tool for money transfers. George represents a key part of Erste Bank Serbia’s digital offering for the years ahead, allowing clients to access almost all banking services anytime, anywhere, without the need to visit a branch”.

Which services are used the most within the application?

“The most frequently used features include everyday payments, account overviews, transaction history, and savings management – while users also appreciate the intuitive design and the overall ability to handle their finances quickly and securely on the go”.

How secure are the new IT solutions? To what extent are clients and their data protected from various cyberattacks?

“Security is one of our top priorities, as we handle highly sensitive client data. Cybersecurity is an ongoing and demanding challenge, as attackers constantly look for any vulnerabilities to exploit – and we take every possible measure to prevent this. All our IT solutions are designed from the ground up with the highest levels of security in mind, covering every layer from infrastructure and architecture patterns to application code”.

Who is responsible for ensuring the safety of clients’ accounts?

“We follow rigorous international standards and best practices, including code reviews, penetration testing, and continuous monitoring, to ensure that our applications are secure. Ultimately, safeguarding our clients’ accounts is a shared responsibility across our dedicated cybersecurity teams, who continuously work to protect data and maintain trust”.

How would you assess the level of development of IT solutions that Erste Bank Serbia applies in its operations and for its clients?

“Two years ago, Erste Bank Serbia successfully completed a major and highly demanding core system upgrade, bringing most of our IT systems up to date. As is common with projects of this scale, some features were scheduled for later development, and these are now our focus – digital, automated, user-friendly, and personalized solutions for our clients. The Bank has many highly skilled professionals, and we leverage state-of-the-art technologies in our digital initiatives, always applying the highest security standards, consistent with the rest of the Erste Group”.

Is this your first time in Serbia, or have you had the chance to visit before, either for work or privately? Have you managed to get to know Belgrade and Serbia? What has left the strongest impression on you in our country?

“Unfortunately, I hadn’t had the opportunity to visit Serbia before taking on this position. I moved here with my fiancé and a small child, and from the very beginning, we’ve felt truly welcome and at home. We live in Novi Sad and absolutely love the city and its surroundings. When we arrived, I was really impressed by the pace of development in both Belgrade and Novi Sad, especially in Novi Sad – if it continues like this, the city will look completely different in ten years. In my free time, I enjoy discovering the running trails around Fruška Gora. And, of course, I’m a big fan of the local food!”

How do you assess the competition on the Serbian banking market? It is clear that every bank is striving to advance the application of digital solutions. How do IT solutions offered by banks differ, considering that each bank aims to provide the best services and most of them seem rather similar? Which service makes the real difference?

“The real differentiator lies in the unique value a bank delivers to its customers through technology. It’s about combining several elements – personalization and even hyper-personalization of products, intuitive and responsive user interfaces, and fully digital self-service journeys. Add to that strong fraud detection, privacy controls, and secure digital authentication, and you have the essential building blocks of a modern banking experience.

However, these technologies are widely available and can be acquired by any bank – that’s not the challenging part. What truly matters is how an organization uses these capabilities to create meaningful value for clients. This means involving customers directly in the design and testing of services, understanding their needs, and validating the value each product brings from their perspective. Banks that engage their clients in this co-creation process are the ones that will stand out in the market”.

What are the potential risks of digitalization for banking clients, and what risks do banks themselves face?

“Of course, digitalization brings challenges as well. Expanding digital services naturally increases exposure to potential security threats, which is why cybersecurity remains a top priority. Regulatory requirements are also becoming increasingly complex and represent a significant part of our ongoing system development efforts. Beyond technology, there is also a cultural and skills transformation taking place – IT expertise is now essential across many areas of banking, not just within the IT department itself. Our goal is to build a future-ready bank that combines the best of digital innovation with a human approach to customer relationships”.

What are your impressions of the adoption of digital banking in Serbia, given that you joined Erste Bank earlier this year?

“Having been part of Erste Group for almost 20 years, I can compare the level of digital adoption across different markets. As I mentioned at the beginning, Erste Bank Serbia recently went through a very demanding process of core system renewal – one of the most complex transformations a bank can undertake. This was an essential foundation for the next stage of our digital development. During that period, while other entities in the Group advanced their digitalization, we temporarily focused on building the technical backbone that now allows us to accelerate and catch up quickly”.

“I believe we’re already moving in the right direction, with George as the first major step that clearly reflects what a modern, digital bank should look like. Serbian clients still tend to visit branches more often than customers in some other countries of the Group, but that’s changing fast. Our goal is to make banking simple and accessible from anywhere, giving clients the freedom to manage their finances easily, without the need to visit a branch”.

In which direction do you plan to develop digital banking in Erste Bank? Apart from George, what else can clients expect in the coming period?

“For us, George is more than just a digital product – it’s the main platform and touchpoint through which clients experience the bank. Almost all of our upcoming initiatives are connected to it in some way. We’re focusing on greater personalization, the introduction of AI-driven tools, and advanced data analytics to deliver more relevant and tailored product offers. In parallel, we’re developing fully digital onboarding without the need to visit a branch, instant card issuance even before receiving the physical card, digital loan processing, and many other improvements. All these innovations share one goal – to make banking with Erste simpler, faster, and more intuitive for every client”.