The Bank of the future will be accessible, fast and convenient

If you want to be a leader in what you do, you need to be prepared for the change

Jivko Todorov:

The Bank of the future will be accessible, fast and convenient
Автор: Tatyana Yavasheva

Mr. Jivko Todorov joined First Investment Bank AD in June 2014 as a Chief Financial Officer, and at the end of 2015 was elected as a Member of the Managing Board of the Bank. Mr. Todorov holds a Master’s degree in Accounting and Control from the University for National and World Economy in Sofia and an Executive MBA from HULT International Business School, London UK. Prior to joining Fibank, he worked as Chief Financial Officer for Alpha Bank Bulgaria (2012-2014) and for ING Bank NV – Sofia Branch (2004-2012). He was awarded CFO of the Year 2018 in the "Development Strategy of the financial function" category.

In the digital era, money… is money. In whatever form: electronic, virtual or paper, money performs and will continue to perform its basic functions. As the song from the Cabaret musical goes, Money makes the world go round. Our modern society is heavily dependent on money.  

In times of dynamic technological change… if you want to be a leader in what you do, you need to be prepared for that change. Everything develops at an incredibly fast pace and thinking only a step ahead is not enough. You need to be ready for a jump.

Banking stability hinges on… trust built between banks and their customers.

Banking secrecy… is guaranteed under the law, which regulates the terms and conditions of its disclosure to third parties. The confidence in a bank is also dependent on the quality and degree of customer data protection.

The bank of the future… will be accessible, fast and convenient. Customers will be able to carry out transactions at any time and from any point, in a convenient manner.

The current phase of the economic cycle… is just another phase. There are plenty theories and hundreds of analysts are trying to predict what lies ahead. As it turns out, however, we are never ready for the next crisis because each one is different and is caused by different circumstances.

Good CFOs are known by… their reputation in the company and outside of it. It takes years to build and has to do with their ability to create sustainable relationships, to achieve results by bringing together many interests. By being a leader, but also a partner.

My strategy for development of the financial function in a sentence: Precision, responsibility, proactivity and improvement.

New technologies in my work… are advancing slowly but surely, and are of paramount importance for my ability to respond to increasing responsibilities and requirements.

My „golden“ financial rule:… Try to achieve balance in everything.

One of the most important lessons I received over the years:… One is responsible for oneself, for one’s development, success and prosperity. You have to ask! If you wait for someone to notice, appreciate and invite you, the probability of success decreases dramatically.

The pitfalls a financial manager should be aware of… could be anywhere. That is why CFOs must be good listeners and analysts, be able to strike a balance. They need to know the business model and processes of the organization they work for. They must be flexible and adaptable, as they often are the carriers of change in organizations.

The greatest hardship I overcame… was the loss of loved ones.

I chose the financial sphere because… accountants and financiers are the people working “in the kitchen” of a company. As a person who likes to know things in detail, I guess that’s what inspired me.

I started building a career in the banking sector… after having gained a little experience as an accountant in a bank. In 2002 I applied for a Financial Controller position and got approved.

I would always spend money for… knowledge and education. This is the basis for the development of any society.

The false notion of CFOs… is that they only understand numbers and always say „No“.

My professional advice:… To be successful, you need to love what you do so that it brings you pleasure and satisfaction.

Company profile

First Investment Bank AD ( was established in 1993, with a full banking license for operations in Bulgaria and abroad. Currently the largest Bulgarian-owned bank, it has developed and consolidated as a financial group with main business in Bulgaria and a regional presence in Cyprus and Albania. Fibank is an innovative and customer-oriented credit institution offering a diverse range of products and services to both individuals and corporate customers, providing high-tech solutions and modern banking experience. It has traditions and solid presence in corporate banking and is among the leaders in bank cards and international payments. Fibank is also a preferred institution for savings by households as it offers outstanding customer service in line with best banking practices. It is among the pioneers in the business with investment gold and other precious metals, offering unique products and services for the Bulgarian market.

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