Supervisory Board Portal softXspace.Board for Piraeus Bank

19 October 2021

soft Xpansion successfully completed the implementation of the softXspace Board supervisory board portal for Piraeus Bank, part of the international Piraeus Bank Group. From now on, all 12 corporate boards — including the Supervisory Board, the Management Board, and a number of committees — work exclusively with electronic documents.

The Challenge

Managing 12 corporate governance bodies with paper-based processes created significant operational overhead for Piraeus Bank. Meeting preparation, agenda distribution, voting coordination, and minutes creation all required manual effort and physical document handling — a particular challenge during the pandemic when remote work became essential.

The bank needed a solution that would digitalise the entire lifecycle of collegial body operations while maintaining the highest standards of security and regulatory compliance required in the banking sector.

What Was Implemented

The softXspace Board portal delivered a comprehensive set of features tailored to Piraeus Bank’s corporate governance needs:

Automated application submission — proposed issues with brief explanations and draft solutions submitted electronically
Corporate calendar — planning and visualisation of board schedules, written decisions, and meeting dates
Agenda management — formation, approval, and distribution of meeting agendas with proposal functionality
Configurable approval routes — flexible routing for applications and meeting materials
Smart notifications — automated reminders to board members about upcoming decisions and events
Digital voting subsystem — “For”, “Against”, “Abstained” options with configurable algorithms for determining results and qualified electronic signature support
Minutes generation — automated meeting minutes with decision tracking, task assignment, and implementation monitoring
Adaptive design — full functionality on mobile devices and tablets via web browser

Results and Impact

The project was completed in less than six months — from initial analysis to commercial operation. Key outcomes:

12 corporate boards fully digitalised — zero paper in governance processes
Remote participation — board members can vote and review materials from any location via web browser
Faster decision-making — automated workflows reduce meeting preparation from days to hours
Full compliance — qualified electronic signatures ensure legal validity of all decisions
Complete audit trail — every vote, comment, and decision logged for regulatory review

“The next step is further functional development in accordance with the demands of the times and introduction of new systems!” — Eduard Prodiedovych, soft Xpansion CEO.

Frequently Asked Questions

What is the softXspace Board portal?

softXspace Board is a digital platform for automating the work of supervisory boards, management boards, and corporate committees. It covers the full lifecycle — from agenda preparation and material distribution to digital voting, minutes generation, and decision tracking — all accessible via web browser from any device.

How long did the Piraeus Bank implementation take?

The project was completed in less than six months — from initial analysis to commercial operation — digitalising all 12 corporate governance bodies, including the Supervisory Board, Management Board, and multiple committees.

Does softXspace Board support legally binding digital signatures?

Yes. The platform supports qualified electronic signatures (QES) for all votes and decisions, ensuring full legal validity and compliance with banking regulatory requirements. A complete audit trail is maintained for every action.

Corporate Governance Solutions by soft Xpansion

The softXspace Board product is designed for banks, financial institutions, large enterprises, and government organisations that need to automate the work of supervisory boards, management boards, and committees. The solution is part of the softXspace platform ecosystem and integrates with document management and contract management modules.

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