OTP Private Banking’s approach to digital development and innovation is predicated on a regional approach, helping the firm benefit from its presence across central and eastern Europe.
It is not simply a case of things built in Budapest being rolled out across the region. Rather, it searches for the best digital solutions in any given country in its network – a robo-adviser built in a southeast European country, for example – and then sees where else it might apply this solution, including in the head office in Hungary.
The firm has moved towards more agile ways of working recently, including via the creation of what it calls its Global Markets Tribe, responsible for private-banking developments in IT, products, processes and regulatory adaptation.
For example, it came up with the Single Market platform for use across the group, allowing customers and staff to execute trades and carry out other tasks.
OTP Private Banking searches for the best digital solutions in any given country in its network and then sees where else it might apply it
This platform has already gone live for investments in the equity markets and has followed that with foreign exchange.