A shower of awards for OTP Bank

A shower of awards for OTP Bank

OTP Bank earned recognition from Global Finance magazine in two categories: it was chosen once again Best Bank in Hungary; moreover, the illustrious finance magazine named the Hungarian credit institution Best Foreign Exchange Provider in Hungary for yet another year. In addition to these two titles, after being awarded in 2019, OTP Bank’s innovation hub, OTP LAB received the Best Financial Innovation Labs award from Global Finance Magazine in 2020 again.

Headquartered in New York, Global Finance Magazine ranks the best banks and financial service providers of the world based on strict professional criteria. As usual, the Magazine announced winners in numerous categories this year; among others, for the 20th time, it published a list of the World’s Best Foreign Exchange Providers, and for the 27th time, it named the best banks of the countries comprising the Central and Eastern European region.

The prestigious international finance magazine recognised OTP Bank in both categories; thus the Bank won the Global Finance Best Bank 2020 title, and was named best bank in Hungary once again. Recognition went to banks that put special focus on satisfying customer needs and were able to improve their results, while also laying the foundation for future successes. Award winners were selected based on the opinions of numerous corporate finance executives, bankers, banking consultants and analysts.

OTP Bank facilitates the provision of services in the highest possible quality through its brand new chat platform, the enhancement of its advisory service model for corporate clients and, among others, the educational activity of the Fáy András Foundation. It is a token of OTP Bank’s commitment to innovation that it was the first bank in Hungary to give its customers access to the ApplePay service; in addition, the credit institution also placed great emphasis on the development of its internetbank, call center and mobile banking services.

OTP Bank has won the Global Finance Best Foreign Exchange Providers award in Hungary for the 16th time in a row since 2005. In addition to the opinion of industry analysts, corporate executives and technology experts, in selecting the winner judges considered number of transactions, market share, global coverage, customer service, competitive pricing and innovative technologies.

In its submission OTP Bank emphasised that the Budapest-based credit institution had continued its expansion in the region: it increased its market share in Serbia, Montenegro and Bulgaria, and entered the Slovenian, Albanian and Moldavian markets. Using its high-coverage online platforms, its customers can conduct transactions in more than 40 currencies. The Bank also highlighted the launch of a comprehensive digitalisation project at OTP Bank to simplify and accelerate the internal processes of foreign exchange transactions.

This year, OTP Bank shared the Global Finance Best Foreign Exchange Providers title with such major credit institutions as Societe Generale (France), Intesa Sanpaolo (Italy) and Credit Suisse (Switzerland).

After being awarded in 2019, OTP Bank’s innovation hub, OTP LAB received the Best Financial Innovation Labs award from Global Finance Magazine in 2020 again. With the award, the periodical recognised financial innovation hubs that are constantly exploring new avenues and employing novel approaches in the world of finance. It selected institutions that are the most innovative in developing banking services and products for the future.

The activities of OTP Bank have been recognised in recent years by numerous Hungarian and international awards. The Budapest-based credit institution, which by now has become a leading participant in the Central and Eastern European region, serves more than 19 million customers in 12 countries by offering contemporary banking solutions. The bedrocks of its operation are stability and innovation.