1. CREATING
A DIFFERENT BANK
Marlon van der Goes
Chief Marketing Officer
ZUNO BANK
Living on the Edge
19 April 2011
Bratislava

2. CREATING A DIFFERENT BANK | 19 March 2012 | BRATISLAVA ZUNO.SK
Is there a space for another bank?
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3. CREATING A DIFFERENT BANK | 19 March 2012 | BRATISLAVA ZUNO.SK
Yes, there is.
Usage of internet banking (EOY 2010) European TOP 3 Development (Slovakia)
36% 83%
33%
77% 76%
25%
23%
19%
NO NL FI 2004 2009 2010
EU SK PL CZ HU
When comparing to 2009, Slovakia was
ranked 2nd among EU countries (after
CEE region has a great growth potential, France) with the most increasing percentage
thus being target market for ZUNO of internet banking usage
Source: Eurostat 2010 3

4. CREATING A DIFFERENT BANK | 19 March 2012 | BRATISLAVA ZUNO.SK
Reasons for selecting a direct bank (current vs. potential users
in Hungary, Poland, Slovakia and Slovenia)
current users
24/7 telephone hotline prospective
Easy to use internet banking users
Positive assessment in the media
Recommended friend/relative
I find the info I need on website
Not restricted to opening hours
Security of transactions is ensured
Guaranteed higher deposit protection
Better fees than banks with branches
It’s a modern/dynamic bank
Consultancy is offered as well
Transparent/fair with customer/easy to understand
Products and services meet needs/tailored
Provides fast/comfortable service
Better rates than banks with branches
I would never cooperate with direct banks
0% 20% 40% 60% 80%
Source: The Brand Union 2009 4

5. CREATING A DIFFERENT BANK | 19 March 2012 | BRATISLAVA ZUNO.SK
Additional reasons of Raiffeisen Bank International
1. Collect primary deposits at low cost
2. Capture/retain emerging self-driven, technology
savvy customer segment with new value
proposition (self-service and price sensitive)
3. Seize profitable business opportunity
(long-term growth)
4. It is better to have in-house competition
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6. CREATING A DIFFERENT BANK | 19 March 2012 | BRATISLAVA ZUNO.SK
The model already exists in many markets
Branch based banking Direct bank
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7. CREATING A DIFFERENT BANK | 19 March 2012 | BRATISLAVA ZUNO.SK
Slovak market analysis
 Population
(all aged 16-74)
 Internet users
(use internet at least once a week)
 Internet banking users
(used internet banking in the last 3
months)
 Online shoppers
(ordered over internet in the last 3
months)
1.3 mil
advanced internet users
(minimum)
Source: Eurostat EOY 2009 7

8. CREATING A DIFFERENT BANK | 19 March 2012 | BRATISLAVA ZUNO.SK
Target group selection process...
According to
factor analysis
(Slovakia),
Group 3 is:
able to save
rely on money
safety above all PRIMARY
they care about TARGET
money
700 ths people, 567 ths people, 751 ths people, 743 ths people, 1015 ths people,
333 ths use 196 ths use 406 ths use 194 ths use 439 ths use
internet at least internet at least internet at least internet at least internet at least
once a week once a week once a week once a week once a week
(48%) (35%) (54%) (26%) (43%)
Source: MML-TGI SR 2009 8

9. CREATING A DIFFERENT BANK | 19 March 2012 | BRATISLAVA ZUNO.SK
… and outcome:
Size 406.000
Gender slightly more males (55% of TG vs. 49% in population)
Age 20-39 (53% of TG vs. 39% in population)
Education highly educated (70% of TG high school with GCE or university vs. 42%
in population)
Global socio- level 1+2 (73% of TG vs. 30% in population)
economic levels
Slovak socio-economic ABC1 (51% of TG vs. 39% in population)
classification
Activity and racionality very active with emphasis on emotions
Bank SLSP (42% of TG vs. 39% in population), VÚB (31% of TG vs. 24% in
population), Tatra (21% of TG vs. 12% in population)
Lifestyle  Kristína & Róbert (23% of TG vs. 11% in population) – the successful
 Kata & Peťo (23% of TG vs. 11% in population) – young, active couple
 Vlado (14% of TG vs. 12% in population) – handy man
 Jana (12% of TG vs. 11% in population) – a perfect housewife
They:
are able to save
are not afraid and not easy going regarding money = money consciousness
do rely on money
have safety above all
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10. CREATING A DIFFERENT BANK | 19 March 2012 | BRATISLAVA ZUNO.SK
Customer preferences
Outcomes from qualitative research
 Everything is clear and easy to understand and use
Functional
1  They use technology to make banking better and simpler for their customers
attributes
 Money-saving ideas whether you’re a businessman or a mother looking after
your family
 This is the bank that helps you make the best decisions about your finances
Benefit
2  Where managing money puts you in control of your life
statements
 Banking online can be different
Attitudinal
3  The bank that doesn’t look or feel like a bank
statements
 This bank listened and acted on what people want from their banks
 This bank encourages dialogue
 In touch with customer needs
 Less is more
 This bank is focused on function and clarity, not pretending to be anything else
Source: The Brand Union 2009 10

11. CREATING A DIFFERENT BANK | 19 March 2012 | BRATISLAVA ZUNO.SK
So we created a concept…
VIDEO about “Less bank, more life”
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12. CREATING A DIFFERENT BANK | 19 March 2012 | BRATISLAVA ZUNO.SK
… with an inspiring brand model:
We’re an intelligent bank. Smart and full of ideas, we
use our unconventional wisdom to solve problems
creatively. Our customers can expect us to provide
clever and better ways of banking.
Bright
We’re always there for our We’re straightforward and know
customers. We fulfill their how to take the complexity out
Warm Clear
needs by making banking of banking. We are user-friendly
friendly, respectful and and speak our customer's
accessible. This is human language. We make banking
banking - always within reach. simpler and clearer.
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13. CREATING A DIFFERENT BANK | 19 March 2012 | BRATISLAVA ZUNO.SK
… when it comes to tools we use:
Urchin Secure and very exact way of web analytics used for
tracking
Remarketing Adaptation of messages communicated to audience
A/B testing Does “Become a client” work better than “Try ZUNO”?
Social listening Has someone written something about ZUNO?
Creative pretesting  Using neuroscience, we pretest creatives and website
designs before they go out
 We use automated image recognition in combination of
predictive models
 We know where the attention will be drawn in first
seconds of perception of our banners
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14. CREATING A DIFFERENT BANK | 19 March 2012 | BRATISLAVA ZUNO.SK
… when it comes to our internal culture:
data centre
core system
call center
PL
Poland
Warsaw
Katowice
call center
ZUNO SK & CZ & HU
Head Prague
Office Czech Rep.
Nitra Slovakia
Vienna Bratislava SWIFT payments
Austria Budapest
Hungary
Slovenia Romania
Ljubljana Bucharest
 ZUNO is a truly international
and multicultural company
card processing
 More than ten nationalities are
working for us
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15. CREATING A DIFFERENT BANK | 19 March 2012 | BRATISLAVA ZUNO.SK
According to us banks do not have to be boring
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16. CREATING A DIFFERENT BANK | 19 March 2012 | BRATISLAVA ZUNO.SK
What are main benefits?
Reasons for accepting pure internet bank
Comfort, don’t have to leave home 53
Vey low fees / no fees 36
It saves time / it’s fast 24
I don’t have to go to bank, stand
21
in waiting line
Time flexibility 12
It’s simple 11
Advantageous interest rate 4
Other 8
Don’t know 5
Source: GfK Slovakia survey, March 2011 16

17. s
CREATING A DIFFERENT BANK | 19 March 2012 | BRATISLAVA ZUNO.SK
And people have started to realise that:
I am the client
of internet bank
already and that Absolutely
is my main bank not acceptable
I am the client of internet 5.2 5.4
bank already, but I do
also have other banks 11.2
More unacceptable than
acceptable. I would prefer
32.0 to have a brick and
mortar bank
It is acceptable for 46.2
me and I am already
thinking of becoming a
client of an internet bank
Source: GfK Slovakia survey, March 2011 17

18. CREATING A DIFFERENT BANK | 19 March 2012 | BRATISLAVA ZUNO.SK
Why should people believe ZUNO?
We are open all hours
We have intelligent internet technology
We offer finances at your fingertips
We feel user friendly
We are easy to understand
We use simple, yet human language
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19. TH
YO A
U NK