The National Bank of Serbia published statistics showing a sharp increase in financial contracts concluded at a distance in 2024, with 323,899 contracts signed without visiting a bank. This was 83.9% higher than in 2023 (176,090) and 352.9% higher than in 2020 (71,519). Contracts were concluded either via video identification or other electronic means. Video identification, used when a customer contracts with a bank for the first time, rose by 142.2% year on year, and accounted for 28% of distance contracts in 2024 (up from 8.4% in 2020). Other electronic contracting represented 72% of distance contracts in 2024 (down from 91.6% in 2020) and increased by 68.2% versus 2023; this category covers cases where the customer already has an existing relationship and contracts additional services. By product type, remote contracting increased across all listed services, including payment account openings (+214.5% to 77,334), overdrafts (+94.8% to 65,977), demand savings or time deposits (+81.7% to 34,111), other services such as cards, credit insurance and payment orders (+55.4% to 25,759), and cash loans (+46.7% to 120,718).
National Bank of Serbia 2025-04-04
National Bank of Serbia reports 83.9% year on year rise to 323,899 remotely concluded financial contracts in 2024
The National Bank of Serbia reported a significant rise in financial contracts concluded remotely in 2024, totaling 323,899, an 83.9% increase from 2023. Video identification for first-time bank customers surged by 142.2%, comprising 28% of these contracts, while other electronic means accounted for 72%. Remote contracting grew across all services, notably in payment account openings (+214.5%) and overdrafts (+94.8%).