Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

OTP Bank named Hungary's best digital bank

OTP Bank named Hungary's best digital bank

OTP Bank has been awarded Global Finance World's Best Consumer Digital Bank Award 2021 in Hungary by the New York-based Global Finance magazine, according to a press release sent to the Budapest Business Journal.
The magazine evaluates the world's best banks and financial services providers based on strict professional criteria. This year, for the 22nd time, the magazine has published a list of the world's best digital banks, including the best from the countries of the Central and Eastern European region.

The award was given to the banks that have most successfully responded to the challenges posed by the coronavirus pandemic, with a particular focus on reaching and serving customers using digital services. The assessment took into account the candidate banks' strategies for developing and promoting digital services, their success in encouraging the use of digital services, the growth in the number of customers using digital channels, and the steps they have taken to develop attractive offers and a wide range of products to meet their needs. In addition, the design and functionality of the internet and mobile banking interface were also examined. The award was based on the opinions of a number of corporate finance executives, bankers, banking consultants, and analysts.

OTP Bank says that it has always prioritized the migration to digital banking, with almost two million customers already using internet banking and mobile banking applications regularly before the outbreak. With continuous innovation now embedded in the bank's day-to-day operations, accelerating digitalization continued to be a feature of the bank's operations in 2020 and the first half of 2021.

Alongside the strengthening of the mobile channel, the proportion of digitally active customers and the number of digitally conducted transactions has also increased significantly: the number of OTP SmartBank users has doubled in one and a half years to almost 1.5 million, while the proportion of digitally active retail customers has increased by a fifth in one and a half years, with significantly more digital transactions. This represents tens of thousands of new online banking customers and tens of thousands more transactions per day than before.

Digital developments continued during the coronavirus epidemic, with nearly 200,000 people having signed up to the bank's new internet and mobile bank by the end of June this year.

OTP Bank was the first in Hungary to offer its customers the possibility to apply for personal loans and merchandise credit online, and the first to introduce ApplePay.
AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
Satirical Sketch Sparks Political Spouse Feud in South Korea
Indonesia Quarry Collapse Leaves Multiple Dead and Missing
South Korean Election Video Pulled Amid Misogyny Outcry
Asian Economies Shift Away from US Dollar Amid Trade Tensions
Netflix Investigates Allegations of On-Set Mistreatment in K-Drama Production
US Defence Chief Reaffirms Strong Ties with Singapore Amid Regional Tensions
Vietnam Faces Strategic Dilemma Over China's Mekong River Projects
Malaysia's First AI Preacher Sparks Debate on Islamic Principles
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
Russia's Fossil Fuel Revenues Approach €900 Billion Since Ukraine Invasion
Alcohol Industry Faces Increased Scrutiny Amid Health Concerns
U.S. Goods Imports Plunge Nearly 20% Amid Tariff Disruptions
Italy Faces Population Decline Amid Youth Emigration
Trump Accuses China of Violating Trade Agreement
OpenAI Faces Competition from Cheaper AI Rivals
Foreign Tax Provision in U.S. Budget Bill Alarms Investors
Russia Accuses Serbia of Supplying Arms to Ukraine
Gerry Adams Wins Libel Case Against BBC
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
U.S. Health Secretary Ends Select COVID-19 Vaccine Recommendations
Trump Warns Putin Is 'Playing with Fire' Amid Escalating Ukraine Conflict
India and Pakistan Engage Trump-Linked Lobbyists to Influence U.S. Policy
U.S. Halts New Student Visa Interviews Amid Enhanced Security Measures
Trump Administration Cancels $100 Million in Federal Contracts with Harvard
SpaceX Starship Test Flight Ends in Failure, Mars Mission Timeline Uncertain
King Charles Affirms Canadian Sovereignty Amid U.S. Statehood Pressure
EU Majority Demands Hungary Reverse Anti-LGBTQ+ Laws
Top Hotel Picks for 2025 Stays in Budapest Revealed
Iron Maiden Unveils 2025 Tour Setlist in Budapest
Chinese Film Week Opens in Budapest to Promote Cultural Exchange
Budapest Airport Launches Direct Flights to Shymkent
Von der Leyen Denies Urging EU Officials to Skip Budapest Pride
Alcaraz and Sinner Advance with Convincing Wins at Roland Garros
EU Ministers Lack Consensus on Sanctioning Hungary Over Rule of Law
EU Nations Urge Action Against Hungary's Pride Parade Ban
Putin's Helicopter Reportedly Targeted by Ukrainian Drones
U.S. Considers Withdrawing Troops from Europe
Russia Deploys Motorbike Squads in Ukraine Conflict
Critics Accuse European Court of Human Rights of Overreach
Spain Proposes 100% Tax on Non-EU Holiday Home Purchases
German Intelligence Labels AfD as Far-Right Extremist
Geert Wilders Threatens Dutch Coalition Over Migration Policy
Hungary Faces Multiple Challenges Amid EU Tensions and Political Shifts
Denmark Increases Retirement Age to 70, Setting a European Precedent
Any trade deal with US must be based on respect not threats', says EU commissioner
UK Leads in Remote Work Adoption, Averaging 1.8 Days a Week
Thirteen Killed in Russian Attacks Across Ukraine
High-Profile Incidents and Political Developments Dominate Global News
Netanyahu Accuses Western Leaders of 'Emboldening Hamas'
Ukraine and Russia Conduct Largest Prisoner Exchange of the War
×