OTP BANK
“ Our plan was to develop strategic partnerships with smaller fintechs that bring the best technological advancements ,” explains Mareș . “ The partnership with FlowX is in exactly the same area . We use topnotch technology providing a low code , no code platform for our employees , which means that we can roll out changes and products to the market very fast , before they become obsolete . So we ’ ve invested in partnerships to avoid this problem .”
And there are more partnerships in the pipeline for OTP , according to Mareș .
Expanding OTP Bank ’ s physical and digital footprint As established , the franchise area in which OTP Bank currently operates is oversaturated with banking solutions . To compete effectively , the bank needed to expand both its digital and physical presence – in short , it needed to stand up and make itself heard .
As well as constructing digital platforms , OTP sought to expand its physical locations for the more traditional customers .
“ We looked – and continue to look – at potential targets for acquisition ,” says Mares simply . “ OTP is a very strong group in Central and Eastern Europe , with a very strong capital position . In the last two years , we have acquired more than seven banks in this region and have integrated these acquired banks successfully – which is an unparalleled performance , considering the complexity of such integration and merging banks .”
Accompanying customers through each stage of life
OTP Bank ’ s evolution doesn ’ t just consist of digitising and acquisitions ; it also involves a thorough consideration of core customer profiles , to ensure that the products and services offered by the bank match the needs of the population .
“ Our plan was to develop strategic partnerships with smaller fintechs that bring the best technological advancements ”
CONSTANTIN MAREȘ CHIEF DIGITAL OFFICER , OTP BANK
174 May 2022