OTP Group Shifts Gears for Late-Stage Startup Programme

OTP Group Shifts Gears for Late-Stage Startup Programme
14.10.2019 11:18 am

OTP Group Shifts Gears for Late-Stage Startup Programme

Banking

Hungary's OTP Group is inviting late-stage startups to apply for a Group-wide pilot programme aimed at finding fresh applications for long-term commercial deployment at the bank.

Opening its third season, the OTP Startup Partner Programme has been expanded beyond the bank's Hungarian headquarters to five subsidiary operations across Europe. With the aim of transforming as many of the startups as possible into long-term partners, the three-month pilot is also supplemented with a six-month 'rollout' period for top-performing cohort companies.

András Fischer, head of OTP Bank’s Retail Innovation Department, says: “Over the course of our previous two startup programmes, we examined nearly 500 startups for possible collaboration, and conducted pilot projects with 17 of them. Prior to announcing a new programme, we always strive to act upon the learnings of the previous batches, therefore this year, we are completing the 3-month pilot period with a 6-month rollout phase for a further boost towards long-term cooperation."

The deadline for applications is 22 November. Shortlisted applicants will be invited to an online interview with the representatives of the relevant OTP business units, followed by a two-day 'Selection Camp' event in Budapest in January 2020.

The three-month pilot and mentoring period will last from early March until late May 2020, during which collaboration will take place mainly online. Representatives of the cohort companies will be invited to Hungary or to the offices of other participating subsidiary banks for a few days on a monthly basis to review pilot progress and participate at in-person workshops and mentoring sessions.

The pilot results will be presented by the startups at the Demo Day in late May to the management of the banking group, as well as to representatives of leading corporate partners and investors.

Related News

Wolters Kluwer Innovates with New Banking Tech Launch to Facilitate Paycheck Protection Program

Wolters Kluwer Compliance Solutions has launched a dedicated banking technology solution, utilizing its market-... Read more »

More than 90% of UK consumers claim technology offering impacts their choice of bank, fintech finds

 Research conducted by new entrant to the UK fintech market, Modularbank, in partnership with market research specialists, OnePoll, has found that over 90% of... Read more »

Pannovate partners up with Salt Edge to deliver instant PSD2 compliance

Pannovate, UK’s leading payment and digital banking technology company, has partnered up with Salt Edge, leader in offering open banking and secure customer... Read more »

National initiative launched by Fintech Tully aims to help 17 million people in the UK who have been financially impacted by COVID-19

Tully, Nottingham-based Fintech, has today announced the launch of their COVID-19 Relief and Wellbeing Network to help people financially impacted by the COVID crisis get... Read more »

Celent Recognizes Backbase as a Leader in Digital Onboarding and Origination Solutions

Backbase, the leading omni-channel digital banking platform, announced today that it has topped Celent’s Retail Banking Customer Onboarding Platform vendor assessment, winning... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel