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OTP Financial institution Hungary completes card buying software program substitute with Tietoevry Banking

Hungary’s largest financial institution replaces earlier card buying answer with next-generation expertise to assist worldwide growth.

BUDAPEST 11 JANUARY 2023. OTP Financial institution Hungary, the nation’s largest financial institution with operations in additional than ten nations, has accomplished its migration to Tietoevry’s Card Suite, which is now deployed in Hungary. This profitable implementation is already delivering sooner time to marketplace for new buying and service provider administration merchandise in addition to a single unified platform for card providers throughout the financial institution that may assist OTP’s quickly rising transaction volumes in its card enterprise.

The explanation for the event was that OTP Financial institution confronted a number of challenges because of the operation of its earlier methods, that is why the financial institution was searching for a companion that went past technical excellence to exhibit an revolutionary method to buyer wants in each buying and issuing. Following an in depth tender course of, Tietoevry Card Suite answer was chosen for its flexibility and capability to perform in a number of configurations – components that match with OTP Group’s ongoing technique.

To satisfy the wants of OTP Financial institution merchandise and workflows, Tietoevry Card Suite was configured and built-in with a broad spectrum of OTPs different methods, together with settlement automation workflows, reporting automation, enterprise course of automation and others. This was managed seamlessly throughout set up and migration. Tietoevry then delivered an iterative road-map for implementation, together with workers coaching and a structured pathway for roll-out. Following the launch, Tietoevry has retained ongoing accountability for back-office service provider administration and buying platform upkeep, in addition to protecting OTP’s Card Suite answer compliant with the most recent worldwide card schemes regulatory necessities. As well as, the platform offers the likelihood for OTP Financial institution to simpler meet the wants of the nationwide – Hungary’s Central Financial institution – and worldwide – such because the EU – regulatory atmosphere sooner or later too simpler.

Valdis Janovs, Head of Prompt Retail Funds and Playing cards, at Tietoevry Banking stated: “Adopting a structured roll-out to this implementation ensured zero system downtime and enabled extra agile working, together with sooner testing and consumer suggestions, in addition to the capability to vary necessities in the course of the supply course of. Following profitable deployment, OTP Financial institution is witnessing a discount in upkeep and working prices, whereas having fun with the capability to check and launch new buying merchandise sooner than was beforehand attainable. Regulatory updates at the moment are dealt with straight within the system, and finish prospects are getting higher service – which can construct their loyalty to OTP’s model and will enhance revenues throughout the group.”

Commenting on the profitable implementation, Peter CsányiDeputy CEO of OTP Financial institution, stated: “The event of the financial institution card settlement system created a chance for us to offer sooner and extra handy service to our companions. With the brand new system – which has been in operation since September 2022 – we provide extra aggressive, trendy and even custom-made providers to our financial institution card accepting companions.”

For additional info, images or interviews, please contact:

Valdis Janovs, Head of Prompt, Retail Funds and Playing cards,
Tietoevry Banking, Tietoevry
tel. +371 26336780, Valdis.Janovs@tietoevry.com
www.tietoevry.com/funds

About OTP
OTP Group is likely one of the main monetary teams within the CEE area with an distinctive progress observe file, excellent profitability and strong capital and liquidity positions. The banking group offers common monetary providers to almost 16 million prospects with greater than 37,500 staff in 11 nations. It presents innovative digital options and a community of greater than 1,450 branches. OTP Financial institution, a member of OTP Group, is the biggest industrial financial institution in Hungary with 27% market share when it comes to complete belongings. It stays a dominant participant not solely in Hungary, but in addition in Bulgaria, Serbia, and Montenegro.

About Tietoevry
Tietoevry creates purposeful expertise that reinvents the world for good. We’re a number one expertise firm with a robust Nordic heritage and world capabilities. Based mostly on our core values ​​of openness, belief and variety, we work with our prospects to develop digital futures the place companies, societies, and humanity thrive. Our 24,000 consultants globally focus on cloud, information, and software program, serving 1000’s of enterprise and public-sector prospects in additional than 90 nations. Tietoevry’s annual turnover is roughly EUR 3 billion and the corporate’s shares are listed on the NASDAQ trade in Helsinki and Stockholm, in addition to on Oslo Børs. www.tietoevry.com

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