Digitalization and Innovations as an Imperative in Business

Through the merger between OTP Banka Srbija (Societe Generale) and Vojvodjanska Banka, the new OTP Bank was created this May. The integration process took nearly 19 months and was a strategic move of OTP Group with the aim of forming a leading banking institution in Serbia, which, among other things, will lead the changes in digitalization and innovations. It is innovations that the Bank finds the most inspiration in, whereas clients’ needs are what guides the everyday activities. OTP Bank is now the biggest corporate and retail creditor, with a total of EUR 3.9 billion in loans issued, assets of EUR 5.3 billion and a net profit of EUR 54 million at the end of the third quarter of 2021, which is a growth of 100% compared to the same period last year.

In order to support their clients where they expect it to, the bank was among the first ones to implement the possibility of using a mobile phone as a payment card in the form of the mCard service, which entails payments through the digital Mastercard card within the mBank app. This is a simple process that is done by putting the mobile phone against the POS device, wherever it is located.

Also, users of iOS, that is, iPhone, Apple Watch, iPad or Mac devices, can use the Apple Pay service – where they can register their Mastercard payment card on an iPhone and use all the advantages of this service which enables a safe and simple contactless payment.

OTP Bank’s clients also have at their disposal online cash credits (eCash/mCash), through which they can apply for loans in the amount of up to RSD 600,000 quickly and simply through the mBank and eBank apps, and, in the near future, the limit of online cash credits will be considerably higher.

To the end of facilitating everyday operations, OTP Bank offers to its clients a digital signing of contracts and the accompanying documentation, in line with the regulatory frameworks (excluding contracts of credit products).

In the key moments of the pandemic last year, the bank offered the possibility of accepting payment cards on the client’s web site, an e-commerce service. So far, this year, over 4 million transactions have been carried out. E-commerce enables online sale of products and services through the accepting of payments with payment cards on the client’s web site, and the service is automated and available 24 hours a day to purchasers from the whole world. The bank’s offer represents the registration of the company and the activation of the E-commerce service, as well as the integration of the app on the side of the bank.

When it comes to payments with payment cards on a website, 3D Secure technology is implemented, which is harmonized with the highest standards that are currently valid and which enables security for card owners. Additionally, the Pay-by-Link option is also available, which enables traders to offer their purchasers online payment independent of the site and the online store, because everything is done through text messages or emails, that is, through a link that is sent by traders to purchasers in a text message or an email.

For those who don’t want to deal with paper and who want to create and send invoices electronically, the Hal E-Banking service is available. The entire process of the preparation, issuing, sending and receptions, as well as payment, is carried out in an electronic format exclusively through the standard security channel. This is a very useful functionality within cash management, and we have over 20,000 e-invoices on a monthly level.

OTP Bank currently has over 250,000 active digital users, of which the majority are the mobile app users. The circumstances of the Covid-19 pandemic have considerably accelerated the needs for digitization in the world of banking and shown its necessity, but they also show in which direction the industries are transform on the global level. Through a partnership approach, the bank will continue developing innovative banking products and creating unique solutions in line with the needs of each client.

AI supercomputer

The parent OTP Group, the leading banking group in Central and East Europe, is keeping up with all the technical achievements. It has recently agreed a strategic partnership for the construction of the fastest AI supercomputer in Europe with SambaNova Systems, a company which develops the most advanced software, hardware and solutions for running AI apps in this industry.

OTP banka Srbija a.d. Novi Sad

Vojvođanska banka a.d. Novi Sad

OTP banka Srbija

Societe Generale

Vojvođanska banka

OTP group

digitalization

mCard service

payment by digital Mastercard card

mBank app

Apple pay service

online cash loan

eCash

mCash

mBank

eBank

online cash credit

AI supercomputer

SambaNova Systems

digital signing of agreements

E commerce

online sale

3D Secure technology

Pay by Link

Hal E Banking

e invoices

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