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The new service will make Fibank's consumer lending faster, easier and more convenient for customers

SOFIA, Bulgaria, March 17, 2022 – First Investment Bank (Fibank), one of the largest banks in Bulgaria, announced that it has entrusted Kyndryl (NYSE: KD), the world's largest IT infrastructure services provider, with the design and implementation of its latest service: a modern automated fully online system for processing consumer loans.

The service, already fully functional, is now used by employees in all branches of the bank. Kyndryl has developed the solution using business process automation technology and carries out its ongoing operational management. Consumer loans up to BGN 80,000 (EUR 41,000) with term up to 10 years are provided fully online, without compromise in security. The borrower is identified by an ID card and a selfie sent online. This allows employees to focus on direct customer service and saves time on processing repetitive transaction requests.

"We chose to partner with Kyndryl Bulgaria because this is a global company whose technology solutions meet Fibank's high standards for implementing digital innovations for the benefit of customers," said Nikola Bakalov, CEO and Chairman of the Board of Fibank. "It helped us optimize our lending service by digitizing work processes, eliminating manual operations involving paper documents, and achieving a higher level of security in the storage of customer data. This significantly shortens the duration of the application and approval stages for consumer lending."

"Fibank, as one of the leading banks in Bulgaria, has been automating and digitizing its processes, thus significantly improving its customer service," said Aleksandar Nikolov, Managing Director of Kyndryl Bulgaria. "We are glad to be a trusted partner of Fibank in this digital endeavor. Our experts work side by side with the bank's team and we will continue to implement digital innovations and services. Financial companies that actively implement highly innovative solutions will be much more competitive in the future."

Business process optimization is part of Fibank's strategy to establish a fast, convenient, and fully digitized consumer lending process, thus attracting more borrowers and increasing customer satisfaction.

The Kyndryl team helps companies transform their business and IT platforms by offering infrastructure management and application services, while at the same time implementing modern programming languages and APIs; carrying out hybrid data integration; providing preliminary analysis, DevOps, automation and containers; and consolidating Linux workloads.

About Fibank

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About Kyndryl

Kyndryl (NYSE: KD) is the world’s largest IT infrastructure services provider. The company designs, builds, manages and modernizes the complex, mission-critical information systems that the world depends on every day. Kyndryl’s nearly 90,000 employees serve over 4,000 customers in more than 60 countries around the world, including 75 percent of the Fortune 100. For more information, visit

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