Sense Bank was the first on the Ukrainian market to launch a subscription bundles service; during a presentation at the FinRetail conference in Kyiv, Inna Tyutyun, a member of the management board and director of the IT, retail and payments and digitalisation divisions, spoke about the launch, the results achieved and development plans.
The subscription model transforms the bank from a payment service provider into the creator of a full-fledged ecosystem: the bank earns regular recurring revenue instead of one-off commissions, retailers significantly reduce customer acquisition costs and extend customer lifecycles, and consumers receive comprehensive long-term savings on services they use every day. A subscription is a regular payment for a service that replaces a one-off purchase.
“The modern consumer seeks convenience and predictable value. A subscription is a tool that breaks down the psychological barrier to repeat purchases and allows you to invest in the customer relationship once while being useful to them for years. Thanks to this business model, a closed loop of loyalty emerges: the bank generates traffic, retailers provide exclusive value, and the customer remains within a comfortable ecosystem,” said Inna Tyutyun.
When developing the subscription package for the Sense SuperApp, the bank rejected the “pig in a poke” approach and offered a three-tier line of packages — Small, Medium and Full. Clients can build their own packages, choosing only the services they need — from transport and streaming services to security tools and entertainment.
The launch made it possible to obtain a set of services at a single price that is significantly more advantageous than buying each subscription separately. Going forward, the bank plans to expand its network of partners, personalise offers and further scale subscription banking.
