Starting in May 2022 two Orchestras and seven Bands formed in maib began functioning in Agile WoW, WoW stands for "way of working".

After a month, during which around 70 employees trained with international experts and consultants, maib employees will put into practice the agile techniques in their areas of responsibility. They already have the roadmap to work on the first products and services which are meant to make customers' lives simpler, better and more mobile.

The first Agile WoW teams will work differently than the usual hierarchical structure:

• Retail Orchestra, consisting of Orchestra Leader, Technical Orchestra Leader, Agile Coach and Bands dedicated to the development of the Retail range of products. The key focus of the first Agile teams in Retail will be on lending in the segment across different categories.
• Business Banking Orchestra, consisting of Orchestra Leader, Technical Orchestra Leader, Agile Coach and Bands dedicated to the development of SME products.
• 7 Bands in total make part of these orchestras.

The bands are made up of cross-functional experts: product managers, IT specialists, risk managers, marketing managers, lawyers, etc. each of whom brings her or his area of expertise to the team. They will work on a particular banking product or service development in 2 week Sprints, and after the launch they will take over new projects and challenges.

Giorgi Shagidze, CEO of maib, spoke at the agile WoW launch event:

"I would like to congratulate the first wave of agile teams reaching this stage of the project. It is both an honour and a responsibility to be the pioneer of a brand new style of banking in Moldova and in our region. I am certain that your enthusiasm, professionalism and commitment to excellence will help you develop terrific products long awaited by maib customers",

Agile vision

Maib’s Agile Transformation is envisioned to result in a long-term lasting organizational and cultural change, and deliver tangible operating improvements. An agile model of operations is based on a flatter organization structure, as opposed to a traditional hierarchical one. Organizational transformation will create new structure and processes, around which smaller, more agile teams would be able to achieve their goals underpinned by bank’s “big picture” strategy. Cultural change will place decision making authority and ownership for end result firmly with the people closer to customers. The desired results from the transformation will be the increase of the change execution speed through a simplified operating model, the ability to better respond and adapt to customer needs, to increase productivity, increase employee engagement, to become employer of choice for talent and, ultimately, the capability to deliver higher returns to shareholders.

About maib

Maib is the largest bank in Moldova, with a 34% share of loans and 31% share of deposits of the entire banking system. The bank serves nearly 30% of the country's population and is one of the largest employers in the country. Maib’s medium term targets include 40% market share in loans, 55% share in payments, under 45% cost-to-income ratio and 20%+ return on equity to be achieved by 2024. Since 2018, the bank's largest shareholder is a consortium which includes European Bank for Reconstruction and Development (EBRD), Invalda INVL, a leading asset management group in the Baltics, and Horizon Capital, a private investment fund focused on emerging markets in Europe.

Upcoming investor events

8-10 June - Wood & Co Prague Spring EME Conference

Contact investor relations

For further enquiries, please contact: IR@maib.md or by phone at +373 22 303 237 or visit our website ir.maib.md