- OTP Group’s transformation vision is based on delivering at speed and serving its customers and employees with great user experiences.
- OTP Group chose the FLOWX.AI platform to be its digital orchestration engine to quickly roll-out multi-market digital services.
- The choice also supports the Group’s acceleration to a modern, cloud-based infrastructure.
Bucharest, April 6 - OTP Group, one of the largest independent financial services companies in Central Europe, announced today that it partnered with FLOWX. AI, the low-code/no-code provider in the enterprise space, to accelerate and reshape its digital experiences for customers and employees. OTP Group is active in 11 countries, serving more than 16 million customers, through its network of more than 1,500 branches and 40,000 employees.
As part of its growth program, the OTP Group is focused on delivering innovation and market share growth through speed, great customer experience and, through attracting and retaining the best talent on the CEE market.
FLOWX.AI, the low-code/no-code experience development platform - helps Financial Services institutions build mission-critical and omnichannel employee and customer experiences in mere weeks such as: onboarding for both Retail & Corporate operations, secured lending (mortgage) or unsecured lending.
The platform plays a key role in the Financial Services ecosystem transformation - given that 7 in 10 don’t plan to replace their core systems as part of their digital transformation1. FLOWX.AI integrates with legacy systems, including core banking, to quickly extend their capabilities in terms of front-end user experience, data, integration and cloud migration.
1The End of Digital Transformation in Banking by Ron Shevlin, Forbes, Jan 2022
“In ten years, everything about financial services experience might look fundamentally different. So, as a group, we shifted our approach to looking at how we can enable capabilities inside our company and how we can serve our customers, now. Speed, pace of change, and a great user experience are key for us. Choosing FLOWX.AI helps us achieve these objects and turn technology from a constraint to a business asset. We are thrilled to partner with them” - said Zoltán Kaszás, MD and Group IT Strategy, OTP Group.
“I’m excited to partner with FLOWX.AI - as a key digital orchestrator. This partnership will enable us to serve our multiple markets rapidly, yet with a local touch, as well as to align the digital delivery to the business needs. Using such advanced platforms coupled with our migration to a modern, cloud-based architecture also help us attract the right talent and continue building an innovation-focused culture. This is a winning proposition for us” - said Constantin Mareș, Deputy CEO, Digital Division, OTP Bank Romania.
FLOWX.AI platform delivers speed of development and fast time-to-market - under 10 weeks, as well as hyper-scalability and reliability, making it the platform of choice for high-volume, multi-country rollouts. It is engineered to power digital delivery in a very short time, ultimately increasing margins, digital-driven revenues, and accelerated innovation. These capabilities are fueled by a new software development paradigm employing AI, and by a new architectural vision that helps tech talent to focus on really complex tasks by eliminating the repetitive or low-value coding work.
“We are excited to partner with OTP Bank - their vision is precisely why we built FLOWX.AI: to empower business and technology teams to work together to deliver easy to use, end-to-end digital experiences and products in weeks - not in years. Our platform solves both for the reliability required in such complex regulatory environments and also for the speed that today’s customers and employees require” - stated Ioan Iacob, CEO, and Co-founder at FLOWX.AI.
The implementation of the platform is delivered by a joint venture of two premier technology and consulting services providers - one focusing on customer experience and the other one on technology. The FLOWX.AI platform is cloud-native and will be deployed on an enterprise cloud platform, a choice of infrastructure that further increases OTP Group’s agility and responsiveness to customers needs and requirements.
About OTP Bank
OTP Group has more than 70 years of activity in the financial sector in Central and Eastern Europe, while the Romanian subsidiary has marked 17 years of presence in the local market. Promoting innovation, stable growth and integrated financial services, OTP Group has become a dominant player in the Central and Eastern European market and is considered an important banking group even on a European scale. The community of about 40 thousand employees serves nearly 16,3 million customers daily in 11 countries.
OTP Bank Romania is a subsidiary of OTP Group, a universal bank with a very good presence in Central and Eastern Europe, that provides complete financial solutions, being active in the retail and corporate segment as well. From 2019, OTP Bank is going through an extensive transformation process, through which it aims to grow significantly in the business segments and to create a better customer experience. Having a continuously growing team, that embraces change and harnesses its potential, OTP Bank Romania is building a culture of trust at every level of the organization. The bank ranks 9th in terms of assets in the ranking of banking players in Romania, according to the latest NBR data. In Romania, the OTP Group members are the following: OTP Bank Romania, OTP Consulting, OTP Leasing, OTP Asset Management, OTP Factoring, OTP Advisors and OTP Bank Romania Foundation.
About FLOWX.AI
FLOWX.AI enables financial institutions to consolidate and streamline employee and customer-facing processes into unified, omnichannel digital apps - without having tochange the existing systems, without the need for deep tech skills, and only at a fraction of the typical cost and time.
With the novel ZeroRedeploy™ technology - which enables 10x-100x efficiency versus traditional development or the current generation of low-code-no-code tools - FLOWX.AI is used by large companies in the financial services space - such as the largest bank in Southeastern Europe - Banca Transilvania - and the largest financial services group in Central Europe - OTP Group, as well as multinational enterprise clients in the energy and utility sector - such as OMV. For a demo or for more information, please visit www.flowx.ai
