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OTP Bank Launches OTP Startup Partner Program Seeking Later-Stage Startups

Operating in 12 countries and with over 19 million clients, OTP Bank is one of the largest financial providers in Central and Eastern Europe. The bank sees innovation as one of its strategic pillars and its novel initiatives are supported by its innovation hub, OTP LAB. OTP LAB brings together industry and vertical experts, startups, businesses, and educational institutions to develop the banking products and services of the future.

The OTP Startup Partner Program coordinated by OTP LAB supports and collaborates with later-stage startups globally to implement product and operational innovations at the Group’s Hungarian headquarters and across its wide network of subsidiaries in CEE.

Why Your Startup Should Apply

OTP Bank is seeking post-product or -market fit startups and scaleups from all over the world to build goal-oriented, business-focused, and mutually beneficial partnerships. Some benefits of applying to the program include:

  • Opportunity to perform a results-oriented pilot based on real business needs
  • Dedicated support from piloting to live collaboration
  • Connection to key decision-makers within OTP
  • Business development acceleration & potential customer base of 19+ million within the CEE region
  • Customized mentorship from dedicated experts
  • Opportunity for product innovation and development
  • Possibility to receive funding

OPT Bank will validate the best submissions in a 3-month pilot focused on collaboration with OTP Group’s business units. In the case of a successful pilot, OTP Bank fosters the launch and live adoption of the tested solution over a 6-month rollout.

“The pilot period of our previous program coincided with the European outbreak of the coronavirus. OTP Group’s commitment to innovation is clearly proven by the fact that despite this situation, we were able to complete all previously commenced pilots successfully. There was enormous interest in the program: for example, our online Demo Day was followed by over 1100 viewers. I am proud to see that the OTP Startup Partner Program has grown into an innovation initiative that mobilizes the entire Group. Besides this, year after year, we are able to convert an increasing number of cohort companies into long-term partners,” said András Fischer, head of OTP LAB.

Key Innovation Opportunities With OTP Bank

Announced for the fourth time, OTP Group is looking for innovative startup partners as part of the OTP Startup Partner Program. The program is a superb acceleration track for later-stage innovative companies that wish to test the applicability of their developments in the Central and Eastern European banking sector.

Applications for the OTP Startup Partner Program can be submitted by later-stage startups and scaleups from any location until 23 October 2020. OTP especially encourages women-led companies and startups with gender-diverse founding teams to apply.

Specifically, OTP is looking for applicants in the following 5+1 categories:

  • Advanced Data Analytics: including solutions such as customer profiling, Artificial Intelligence-supported trading models, big data-based HR analytics, real-time monitoring tools for the real estate market, and more
  • Customer Experience & Customer Servicing: from visual remote assistance and voice-based banking to gamified investment & money management training and advanced anti-fraud solutions
  • Internal Efficiency: wanted solutions range from on-the-job training solutions, self-service digital HR platforms, performance marketing optimization tools, and intelligence sales support assistants to meeting optimization tools
  • Product Innovations in Retail Banking: including white label lending-as-a-service solutions, non-financial, value-added services for real estate agents, utility payment aggregator solutions for digital banking, family banking solutions
  • Product Innovations in SME and Corporate Banking: covers solutions including non-financial, value-added services for agricultural clients, online wholesale marketplaces for agricultural production, e-invoicing, accounting, and financial management services for SMEs
  • OTP is also looking for entirely innovative and disruptive solutions which do not fall under any of the above-listed categories but are related to the banking sector

Building On A Successful Track Record

Over the last four years, the OTP Startup Partner Program has witnessed a growing number of participants, with the last edition receiving 370 applications. At the same time, the number of OTP subsidiaries participating in the program has also significantly increased, with 32 different business units taking part in the last edition. Some collaborating partners arising from the previous batches include:

  • Batch 2018-19: Alyne is working closely with OTP Bank Hungary to provide cutting-edge solutions to strengthen their cybersecurity measures, especially with reference to the ISO and NIST frameworks, and local and European banking regulations.
  • Batch 2019-20: Neticle collaborated with OTP Bank Albania to localize its online media monitoring and sentiment analysis platform in Albanian, thus introducing the first such service available in the Albanian market.
  • Batch 2019-20: After a successful pilot, Scolvo is developing a corporate sales support application for Vojvođanska banka to streamline client meetings and deliver significant efficiency gains in the overall sales process.

To learn more about the OTP Startup Partner Program, sign up for online information sessions on 25 September and 13 October and to apply, visit the OTP Startup Partner Program website today!

 

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