Even rivals recognize that OTP Bank has advanced strongly in digital banking recently, ensuring that its technology wins and retains customers in Hungary and across central and eastern Europe.
“OTP was sometimes overlooked as a digital bank in the past, but should not be underestimated in this area,” warns one regional rival.
That message is certainly apparent in OTP’s achievements in digital banking, an area overseen by deputy chief executive Péter Csányi. In early 2022, OTP added more than 15 features to its mobile banking portal when it introduced the new MobilBank app. The new functions included tools for personal finance management, open banking, savings and term deposits, currency transfers, payments using QR codes and by instalments.
In open banking, for example, it extended its multi-bank functionality to provide external balances and account history, and extended the list of supported banks.