Building on the successes achieved in previous years in the period 2020-2021, the OTP Startup Partner program was launched with the full participation of foreign subsidiaries in addition to the parent bank, so in the application period in the fall of 2020, the banking group covering 11 countries sought to start operation Partners Along Nearly 100 Innovation Needs In the application period from September 15 to October 23 last year, the number of startup registrations broke another record: 469 applications were received from a total of 51 countries, a 27 percent increase over the previous program, according to the press release. For the financial institution.
In the final stage of the multi-round selection process, the two-day selection days, around 200 participants, banking professionals, and startups from 25 countries worked together on proposed testing projects for implementation.
During the program testing period from March 1 to May 26, 15 companies were invited,
Who, in addition to the parent bank, begin to cooperate with Serbian, Ukrainian, Bulgarian, Albanian and Montenegro companies. Teams that complete a successful test project can be included in the software’s 6-month rollout period, which also provides support for direct implementation of tested innovative solutions.
Once again, interested companies have been able to apply for the program in 5 + 1 themes: cutting-edge data analysis solutions, customer experience and customer service, internal efficiencies, product-specific innovations related to retail and corporate banking, and totally innovative and exciting banking. Solutions that do not fall into the above categories.
As you write, the activities of the selected startups fit well with one of the above topics:
- Lending operations are supported by data analysis technology, Cantab PI’s credit rating solution based on analysis of transaction data, and Katabat’s self-service platform to reach out to clients behind. Orgnostic makes HR reporting processes smoother and Amplyfi automates customer due diligence using sophisticated analytical methods.
- Dedicated customer service is supported by Xeerpa’s social media presence-based business intelligence solution, and uses artificial intelligence to deliver customized product offerings for various product types from Abaka and W.UP.
- Also contributing to the customer experience is Feedier, an integrated digital customer feedback management, Spitch, a developer of customer identification and voice chat robots, and Ubanquity, making discount programs easy to use for customers on the go.
- One solution that supports the development of innovative banking products is PiggyBanx’s Virtual Piggy Bank, which promotes children’s financial education with fun elements, and Appraiser.ai, which assists consumers with home buying and related loan making processes.
- Proworx intends to increase internal efficiency by providing digital content management to the marketing interfaces available in the bank’s branch network. The Lumeer team makes it easy for employees to collaborate with a platform that encourages digital collaboration at the group level, while Mentessa makes it easy for employees to collaborate through a digital employee orientation platform.
For the fourth year in a row, the program provides the banking group with access to premium startup solutions internationally, and the upcoming teams are now being assisted by banking professionals from 11 countries in developing and validating their products. Our goal is to maintain the high professional level of the program, and I believe that the ever-increasing professional participation and increased interest in initiation are good metrics for our work. “We are proud that the number of companies that have started collaborating with the banking group after the pilot is increasing year on year,” said Andras Fischer, Head of Retail Innovations at OTP Bank.
The 15 startups from 10 countries (UK, Bulgaria, Hungary, France, USA, Czech Republic, Germany, Ireland, Spain, Switzerland) came to the program. During the three-month collaboration period, company representatives will be given a dedicated opportunity to conduct comprehensive online workshops with their field mentors in a special three-week period. Additionally, trainings specifically designed to mature startups and individual mentoring opportunities also assist teams in business development. The acceleration period ends with a Demo Day event on May 26, where startups will report on lessons learned and results achieved during the pilot period prior to the leadership of the banking group and program partners.
Opening image: MTI / Balogh Zoltán