The maib partnerships are an initiative designed to facilitate collaboration between companies supplying goods and services, and the bank, offering common customers - legal entities, flexible financial solutions for the purchase of goods and services on credit or with the possibility of installment payments. In an exclusive interview for AGROEXPERT, we spoke with Vitali Trandafil, maib business partnership manager, to better understand how these partnerships work and their impact on agricultural communities.
Accessing maib partnerships: fast, digital and red tape-free
Vitali Trandafil emphasizes that maib partnerships involve collaboration between companies providing goods and services, and the bank, in order to serve common customers quickly and qualitatively.
"If you are a company that sells goods or services to legal entities, maib offers you the financial solution to sell goods and services on credit, even with the possibility of paying in installments for customers, without any interest or commission fees. Here's how it works. Customers - legal entities - both of the bank and those who are not yet maib customers, choose the goods from the commercial offer of the bank's partners, and at the payment stage for the selected products they have the opportunity to apply for online loan directly from the partners' showroom, from home, in the field or wherever they are. The process is simple. It is enough to have a mobile phone from which you’ll access the page, attaching the offer from the bank's partners", explains the representative.
Once the application is submitted, customers receive a response within hours, without the need for physical visits to the maib branch or a long list of documents.
"Subsequently, there is the stage of loan granting, which can also be done remotely, with a digital signature. And if the client is not yet a maib one, we invite him to become a client of the bank and enjoy the digital services we offer", Vitali Trandafil pointed out.
Diversified range of goods in partnerships
Initially focused on agricultural equipment and machinery, maib's partnerships have expanded and now they include various fields. The choice of goods and services is made according to the needs of the customers.
"The bank promotes the partnership regarding the customers’ financing - legal entities who want to buy any goods or services on credit or pay in installments. Regarding the range of goods and services proposed for procurement on credit through the maib partnership, we started with agricultural machinery - tractor, agricultural combine. As well agricultural machinery - seeder, plough, cultivator, spare parts for agricultural machinery and repair services, agricultural inputs – fertilizers, seeds, chemicals, etc. Along the way, we also supplemented with goods from other fields of activity - photovoltaic panels, cars, telephones, computers, printers", emphasized the bank representative.
Impact on economic development and farmers
"The first and most important impact that maib aims for in the partnerships’ framework is fast and qualitative customer service, eliminating the need for physical visits to the bank's branches. Customers have time to see what the technology they want to buy looks like, but they don't have time to visit bank branches. The Partnership project is customer-oriented, and our slogan is "We unite efforts - we develop business", emphasizes the business partnership manager.
In the case of farmers, the partnerships offer the opportunity to buy agricultural inputs on credit, having flexibility in paying them depending on the future harvest. Thus, farmers benefit from advantageous and flexible conditions for the development of their businesses.
The added value of the partnership project was explained by Vitali Trandafil through an example:
"Let's say I'm 'Trandafil Vitali' Peasant Household and I'm dealing with tillage and grain growing. I need to purchase mineral fertilizers in the amount of 200 thousand MDL. Until now, the fertilizer seller delivered fertilizers to me with payment at harvest, that is, I had the obligation to return the debt in July - the full amount of 200 thousand MDL.
That's how it was until now, but today the fertilizer supplier gave me the opportunity to get it through partnership: remotely I applied for credit, I got a 6-month credit payment holiday. Later, the amount was divided into equal installments for 6 months, 33 thousand MDL/month each (instead of 200 thousand as was the case with the supplier). Additionally, in the offer I got from the fertilizer supplier, I also benefit from 0% interest facilities for 6 months, meaning the loan will be interest-free for the 6-month period. Under these conditions, I decide by myself whether to close the loan after 6 months without additional expenses for banking services. I can close it earlier if I want or depending on the crop, I have the possibility to close the loan in the next 6 months, when the price of production could be higher and I will make more money from selling them.
Customers appreciate a lot that through the partnership they have freedom of action with the sale of the production and payment of the credit, not being constrained by the term and the significant amount, as it was until now with the suppliers of goods".
Expanding partnerships and visions
The maib representative says there are plans to expand partnerships into other areas and continues to actively engage with stakeholders, including customers and partners, to get feedback and implement new development ideas.
"We plan to further develop partnerships in other areas as well. Just the other day I signed a partnership agreement with a company that sells paint for wood, metal, PVC and others. We already have the first satisfied customer who took out a loan for 3 months, 0% interest," says Vitali Trandafil.
"We also have a CSAT indicator - customer experience score, where the bank, once a quarter, calls customers and partners to get opinions about the experience of working in partnership with maib and to discuss new ideas for development and/or promotion. We also have the B2B Partnerships team, which concerns existing and potential partners, collects new ideas for development from existing partners and informs about opportunities for potential new partners. In addition, the bank also promotes the partners on social media, so customers are informed about the partners, and in return the partner gets free promotion on the Facebook page - better business and greater visibility for his business", pointed out the business partnerships manager.
Offers with 0% interest from maib - unique for legal entities customers
The offer with 0% interest is not new for individuals, but it represents a distinctive element that only maib, in collaboration with its partners, offers to its customers, legal entities, from Moldova.
These offers are popular and attract more and more applicants, with an increasing number of applications every year.
"There are several advantages. The 0% interest offer is convenient for customers because there are no other additional expenses related to the loan. It does not have to take a significant amount of money out of the business, because it is possible to pay in smaller amounts and in a few months. The amount of loan payments is fixed and cannot be changed, and you can forecast your cash flow. At the same time, we do not forget the advantages mentioned above, that the loan application is submitted online, remotely, without bureaucracy, the partner's request and offer being sufficient", said Vitali Trandafil.
During the two years since the project exists, maib partnerships had a significant impact, expanding its list of partners and registering over 700 million MDL in loans granted through this collaboration. Requests are constantly growing, representing over 11% of the bank's total SME portfolio.
For legal entities clients, maib has dedicated a special call line, 1314, where businesses can receive advice or direct support. More details about the products and the advantages of banking together with a strong and reliable partner such as maib, customers can also find out on the website, on the maib business pages on social media and, of course, in any maib branch.
