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Scan the code with your mobile phone, depending on your phone system.

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Scan the code with your mobile phone, depending on your phone system.

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Terms and conditions

Disclaimer

AI Search is a pilot project - in beta - that uses GPT4 technology to simplify the process of finding and understanding banking products.

AI Search is trained to answer questions that relate exclusively to the banking products offered by BT, but in certain situations and depending on the questions asked, it may also answer general questions. The answers provided are automatically generated and are to be used for information purposes only. The service may sometimes provide inaccurate or potentially offensive content, which does not represent the views of Banca Transilvania. You are solely responsible for your use of the content generated by this service in any way. Do not rely on this service for financial, legal or other professional advice and do not enter personal data or other confidential information into this service.

Use of AI Search implies acceptance of the Terms and Conditions.

Access to and use of the service implies your unreserved acceptance of these terms and conditions. If you do not agree to them, please do not use this service. By accepting the terms and conditions to use this service provided algorithmically by an artificial intelligence model, you assume the entire risk as to the quality, safety and performance of this service.

Banca Transilvania does not provide any guarantee in relation to the answers provided by this service.

AI Search provides responses algorithmically and these may sometimes contain inaccurate information or potentially offensive language. This information does not express the position of Banca Transilvania and cannot engage the responsibility of the Bank for the content provided.

AI Search does not provide answers to personalized questions, so by using it you are obligated not to provide or enter any personal data or other confidential information in your messages/questions. In case you do not comply with this obligation, by inserting personal data/confidential information in AI Search, you consent to their processing for the purpose of providing the service (answers to the questions you ask), as well as for the improvement of the algorithmic model of the robot by its developer.

Any information provided by users during their interaction with AI Search will be treated confidentially and will only be disclosed to recipients who have a right and need to know.

The content provided by AI Search is for information purposes only.

Users are responsible for the questions and messages asked when using AI Search. Any abuse or inappropriate language may result in the interruption of the interaction.

AI Search does not provide financial, legal or professional advice and is not a substitute for consulting human experts or professionals specialising in the field. Users should not rely on the information provided by AI Search in making decisions.

The Bank reserves the right to discontinue the AI Search service at any time without prior notice.

Terms and conditions may be revised/updated at any time.

What is "inflation"?

We talk and hear more and more about inflation. Or the price of goods. Or the minimum consumption basket. What is the connection between them and what do they mean for us? 🤔

Let's start at the beginning: the price of goods and services can change at any time because that's the way it is in a market economy. When the increase is generalised, we speak of inflation. 📈

The evolution of consumer prices is a benchmark in the economy because it is linked to the welfare of the population. With the same income, the more prices rise, the less you can buy. For example, if the inflation rate is 7%, then your shopping basket is smaller than the previous year. Inflation also causes companies to pay more attention to managing production, operational and financing costs. 🕵

Price stability is a key ingredient for balanced economic growth that generates development. In November 2022, prices in Romania rose by almost 17%, the highest level since 2003. The low was in May 2016, when we had a fall of 3.46%.

Price stability = growth at annual rates of around 2%.

Price stability means consumer prices rising at annual rates of around 2%, the inflation target level of the central banks of the United States and the Eurozone. 

This allows companies to allocate resources more efficiently during periods of slow consumer price growth and enables the population to make better informed consumption decisions. In this context, we are witnessing increased productivity in the economy, with a positive impact on the welfare of the population.

You can find more details on all of the above in our Blog article:"Inflation now, a spike". 🙂

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