Over the past decade, the way citizens in Greece conduct their everyday banking transactions has changed radically. From endless queues at branches for cash transactions, we’ve now moved into a new reality where almost all transactions take place outside of physical bank locations—via mobile apps, digital wallets, internet banking, and the online environment in general. Today, only a small portion of customers carry out transactions at traditional bank counters, as the average Greek citizen has become well-acquainted with digital banking.

A prime example of this digital transformation in the banking sector is Alpha Bank, which now completes 98% of its customer transactions outside of branches. As stated by the bank’s Chief Digital Officer, Michalis Tsarbopoulos, at the 10th Delphi Economic Forum, this figure was just 80% a few years ago. Now, sales through digital channels have reached 32% in the first quarter of 2025—surpassing the southern European average of 26%. “By the end of the year, Alpha Bank will have fully digitalized all of its customers’ daily transactions. With very few exceptions, customers will no longer need to visit a branch for their banking needs,” noted Mr. Tsarbopoulos.

The Invisible Partner

“The bank is striving to become an invisible partner in every digital experience of the customer. To offer commerce that is not just easy, but smart and human,” said Yiannos Ioannidis, Chief of Retail Banking Products at Alpha Bank, also speaking at the same forum. The trend is clear: digitalization isn’t just for the young or the ‘technologically mature.’ As Mr. Ioannidis emphasized, “E-commerce is a multigenerational habit. The digital customer has no age—only expectations.” With this in mind, Alpha Bank is designing digital journeys that prioritize security, speed, and user experience.

At the heart of this strategy lies the prevention of digital fraud, which Mr. Ioannidis describes as a top priority: “The keyword is prevention. We are continuously investing in systems and partnerships—such as with Visa—to ensure security without sacrificing customer experience.”

Digital transformation doesn’t stop at transactions: it also extends to how banks are internally organized and how they develop partner ecosystems. As Mr. Tsarbopoulos mentioned, Alpha Bank is collaborating with a U.S. tech giant that, due to its relationship with the bank, has established permanent offices in Greece. It also partnered with the startup Moveo.ai to launch a digital assistant. According to Alpha Bank, Greece has the potential to become a regional hub of expertise, capitalizing on innovation, the strength of its education system, and its progress in digital maturity.