Harry Margaritis is Group COO at Piraeus Bank and a key figure in the bank’s impressive digital transformation. Interviewed for Business Partners by Dr. Venetia Koussia, Chair of the AmCham Greece Employment Committee, he shares his thoughts on creating innovation-driven workplaces, prioritizing employee empowerment, and striking the right balance between productivity and employee wellbeing.
Piraeus Bank has a strong track record of embracing digital transformation and introducing innovations in customer service, technology, and across operations. Tell us a bit about the challenges and opportunities you’ve encountered along the way.
Digital transformation at Piraeus has been an ongoing journey of balancing heritage with innovation, addressing challenges and opportunities in a rapidly evolving financial landscape. One of the most significant challenges has been managing the accelerating pace of technological change while meeting the rising expectations of customers who demand services that are immediate, personalized, and seamless. Customers continue to value the safety and tradition associated with Piraeus Bank, but they also seek the convenience of modern, technology-driven banking solutions. Striking this balance has been a delicate yet rewarding process.
A critical part of this journey has been investing in robust technological foundations. Implementing modern infrastructure and security systems requires meticulous planning and resources, ensuring that innovation doesn’t compromise stability. Another challenge has been upskilling our workforce to adapt to advanced tools and technologies, ensuring that employees feel confident and are equipped to thrive in this new environment.
Meanwhile, the opportunities are vast. Greece’s shifting economic climate and the ongoing brain gain, with talented professionals returning to the country, present a unique chance to tap into fresh ideas and expertise. These factors, combined with investments in digital tools such as advanced analytics and cloud platforms, allow us to provide customers with more efficient and tailored services. Innovations such as digital onboarding and mobile transactions have already exceeded market benchmarks, creating significant value for our customers.
Looking ahead, Piraeus is poised to continue leveraging technological advances to enhance operational efficiency, modernize processes, and support sustainable growth. By staying rooted in our core values while embracing change, we are shaping the future of banking in Greece and beyond.
How can businesses effectively integrate technology and innovation to enhance workplace efficiency while also ensuring that employees feel supported rather than intimidated by technological change?
Integrating technology and innovation into the workplace requires a thoughtful, people-centric approach. At Piraeus, we have seen how technology can not only streamline processes but also foster connection and collaboration. Tools such as Microsoft Copilot have helped reduce repetitive tasks, allowing employees to focus on more creative and strategic responsibilities. This shift doesn’t just improve efficiency, it empowers people to do their best work.
A successful integration begins with continuous learning. Providing employees with regular training and development opportunities ensures they feel confident using new tools. This process also fosters a sense of empowerment, as employees realize they are gaining valuable skills that will support their personal and professional growth. Equally important is involving employees early in the adoption process, so they feel part of the journey rather than simply adapting to decisions made for them.
Humanizing technology is critical. By emphasizing how it enhances rather than replaces roles, employees begin to see innovation as a tool for unlocking their potential. This helps alleviate fears and builds excitement for what technology can enable them to achieve.
Finally, fostering a culture of collaboration and open communication is essential. Technology should act as a connector, bringing teams together to share ideas, solve problems, and innovate. When implemented with care and empathy, technological advances create an environment where employees feel supported, valued, and ready to embrace change.
Building on the importance of empowering employees to embrace innovation and fulfil their potential, how can businesses enhance the interplay between teams and technology and achieve the kind of motivation and synergism that drives progress?
Strong collaboration between teams and technology begins with a clear vision that places people at the center of innovation. At Piraeus, we’ve learned that progress isn’t about choosing between people and technology, it’s about finding ways for them to complement one another. Employees are the driving force behind innovation, and technology should serve to amplify their potential, not replace it.
Investing in digital platforms that foster seamless collaboration is a crucial first step. In today’s hybrid work environment, these tools enable employees to stay connected, share insights, and work efficiently regardless of location. This not only enhances productivity but also strengthens the bonds between team members, fostering a sense of unity and shared purpose.
Recognizing and celebrating contributions is another vital component. When employees see their ideas and efforts acknowledged, it motivates them to stay engaged and continue contributing to the organization’s success. This culture of recognition reinforces the idea that everyone has a role to play in shaping the future.
Finally, empathy and emotional intelligence should guide how businesses approach innovation. Technology can streamline workflows and improve efficiency, but it is the human connection—listening to employees, valuing their input, and creating supportive environments—that ensures innovation is both meaningful and sustainable. By maintaining this balance, businesses can create a culture where motivated employees and effective technology work together to drive progress.
In your opinion, what can Greece do to boost productivity across sectors while maintaining a balance between efficiency and employee wellbeing?
Improving productivity in Greece requires a balanced approach that integrates advanced tools, sustainable practices, and a commitment to supporting people. At Piraeus, we see productivity as an outcome of creating environments where employees can thrive both professionally and personally.
A cornerstone of our strategy is investing in modern infrastructure. Our physical spaces, many of which are LEED and WELL certified, are designed to promote both functionality and employee wellbeing. These certifications demonstrate our commitment to sustainability and health-conscious work environments, ensuring that our teams feel supported both digitally and physically.
Continuous training and development also play a vital role. By equipping employees with the skills they need to adapt to change, we empower them to contribute meaningfully to the organization’s success. This investment in people is complemented by fostering a collaborative culture in which teamwork and open communication drive innovation and efficiency.
At a national level, Greece’s inclusion among the seven EU countries hosting the first AI factories is a transformative development. This initiative positions the country as a hub for innovation and creates opportunities for businesses to thrive. Combined with the return of skilled professionals through the brain gain, these developments provide fertile ground for sustainable growth.
Ultimately, productivity must go hand in hand with wellbeing. By aligning advanced technologies, modern workspaces, and a supportive culture, Piraeus demonstrates that efficiency and employee satisfaction are not only compatible but mutually reinforcing. Together, these elements form the foundation for longterm success in Greece’s evolving economy.
