OTP Bank chooses Intellect's award-winning Intellect Digital Core Banking platform

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 Uzbekhistan 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."

Shares of Intellect Design Arena Limited was last trading in BSE at Rs. 546.20 as compared to the previous close of Rs. 550.35. The total number of shares traded during the day was 39575 in over 1922 trades.

The stock hit an intraday high of Rs. 553.95 and intraday low of 540.00. The net turnover during the day was Rs. 21640289.00.

Source : Equity Bulls

Keywords

IntellectDesignArena INE306R01017 IntellectDigitalCoreBankingPlatform OTPBank