OTP Bank, the Largest Bank in Hungary, Chooses Intellect Digital Core Banking Platform to Provide a Contextual Banking Experience for Their Customers

  • Core Banking
  • 23.05.2023 01:45 pm

Intellect Global Consumer Banking (iGCB), ranked #1 in the world for  Retail Banking by IBS Intelligence, announced that the OTP Bank, one of the leading commercial banking groups of Central and Eastern Europe (CEE) has chosen iGCB’s acclaimed, Intellect Digital Core (IDC) for  final exclusive contracting period with expectation to fulfil their vision of providing a complete range of highest quality financial services to their customers in CEE. 

Established in 1949, OTP Bank Group is one of the largest independent financial service providers in the CEE region with banking services for private individuals and corporate clients. The bank has more than  36,000 employees, 16 million clients and is present in 11 countries, namely Albania, Bulgaria, Croatia,  Hungary, Moldova, Montenegro, Romania, Russia, Serbia, Slovenia and Ukraine, and OTP Bank soon enters the Uzbekistan market. 

The bank selected iGCB’s core banking platform as preferred solution with the confidence to enable  launching curated solutions rapidly in the market ensuring a superlative customer experience. Recently  named as a leader in Digital Banking Processing Platforms for Retail Banking by Forrester, Intellect is  committed to enable OTP Bank to strengthen its leadership position in the CEE banking industry by  leveraging the following:  

1. Intellect’s comprehensive digital portfolio of packaged business components for core operations of the bank including Current and Savings Accounts, Lending for Retail, SME and Corporate customers. 2. Composable API-first Microservices architecture with 100+ Packaged business components (PBCs)  ensuring lowered TCO, increased personalisation, and faster time-to-market 

3. Real-time contextual end-customer experiences by bringing together AI, data analytics, agile  architecture and core-agnostic integration  

4. Europe-ready Marketplace enabling the bank to drive value creation 

5. Cloud native platform enabling scalability on demand.

Commenting on the partnership, Peter Csányi, member of the Board of Directors,  Deputy CEO, Chief Digital Officer of OTP Bank said, “At OTP Bank, we pride ourselves in building meaningful relationships with our clients by helping them achieve their goals and supporting those who are at the forefront of creating and building sustainable financial growth. In order to achieve that, we were looking for a technology partner who  

could support us to launch personalised services and tailored products for our various client segments.  Intellect’s market-leading range of solutions, combined with a MACH-enabled technology architecture and a  customer-centric user experience made them a promising partner for our digital transformation journey. We  are looking forward to start building this new partnership.” 

Commenting about the important step to win prestigious deal, Rajesh Saxena, Chief  Executive Officer, Intellect Global Consumer Banking said “We believe in technology enabling the fabric of life for our customers and the experience they, in turn, offer to their clients. Intellect’s state-of-the-art core banking platform will provide OTP Bank the twin advantage of world-class technology & rich functionality. The solution’s composable architecture could allow the bank to create highly tailored solutions and be proactive in gauging their customers’ needs as a part of their lifestyle. We look forward to seeing OTP  Bank continue to grow and position themselves at the forefront of the European banking industry.

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