The OTP Startup Partner Program supports and collaborates with late-stage startups and scaleups to implement product and operational innovations at OTP Group’s Hungarian headquarters and across its wide network of subsidiaries in CEE.
OTP Group sees outstanding value in collaboration with innovative enterprises, which is proven by the fact that over the recent years, it reviewed the possibility of working with nearly 900 startups, conducted 30 pilots, and had post-pilot collaborations with 12 companies. At the same time, the number of OTP subsidiaries participating in the program has also significantly increased, with 32 different business units taking part in the last edition, and more than 70 business units joining for the upcoming Program.
OTP Group Seeking Innovation
The fourth OTP Startup Partner Program is the Group’s most comprehensive innovation program to date as besides the Group’s Hungarian headquarters, all its CEE-based subsidiaries are also looking for startup partners supporting their business objectives. This year, the following local banks are taking part in the initiative:
- Albania – OTP Bank Albania
- Bulgaria – DSK
- Croatia – OTP banka
- Hungary – OTP Bank Hungary
- Moldova – Mobiasbanca
- Montenegro – CKB
- Romania – OTP Bank Romania
- Russia – OTP Bank Russia
- Serbia – OTP banka Serbia & Vojvođanska banka
- Slovenia – SKB
- Ukraine – OTP Bank Ukraine
The OTP Startup Partner Program is looking for later-stage startups and scaleups in the following 5+1 categories:
- Advanced Data Analytics
- Customer Experience & Customer Servicing
- Internal Efficiency
- Product Innovations in Retail Banking
- Product Innovations in SME and Corporate Banking
- OTP is also looking for entirely innovative and disruptive solutions which do not fall under any of the above-listed categories but are related to the banking sector
Why Your Startup Should Apply
Banking managers, professional mentors, and renowned external experts support participating startups to test the applicability of their developments in the Central and Eastern European banking sector. The cohort companies will also have the opportunity to attend multiple events supporting international networking and can introduce themselves to renowned national and international partner corporations, thus expanding their business development opportunities.
The OTP Startup Partner Program is seeking late-stage startups and scaleups with market-ready innovation from all over the world, with the chance to build goal-oriented, business-focused, and mutually beneficial partnerships. OTP especially encourages women-led companies and startups with gender-diverse founding teams to apply.
Some benefits of applying to the program include:
- Opportunity to perform a results-oriented pilot based on real business needs
- Dedicated support from piloting to live collaboration
- Connection to key decision-makers within OTP
- Business development acceleration & potential customer base of 19+ million within the CEE region
- Customized mentorship from dedicated experts
- Opportunity for product innovation and development
- Possibility to receive funding
Companies applying for the program will take part in a three-stage, online selection process: after completing the online application form, candidates demonstrating a good business fit will be invited to an online interview and finally, the best applicants can attend the two-day online Selection Days in early December.
The three-month pilot period – supported by business development mentoring – will take place between March and May 2021, mainly through online channels. The pilot period will conclude with an in-person Demo Day, where the cohort companies can present the results of the pilot projects to the management of the Group, as well as the representatives of several Hungarian and international corporate partners and investors. Afterward, the companies with the most promising pilot results will be admitted to the 6-month rollout phase of the program, in which they can instantly commence the live implementation of their solution within the Group.
Join 30 Startups From Previous Editions Which Already Worked With OTP
In the previous editions of the OTP Startup Partner Program, applications were received spanning various topics including advanced data & analytics tools, customer experience & servicing, internal efficiency, product innovations, SME banking, open banking & security, family banking, big data, automation, and collaboration platforms. Over three editions, 30 companies have been admitted to the startup program:
In the 2019-20 edition, EdgeTier was one of 13 winners, developing a virtual assistant for guiding customer service agents during client conversations. The virtual assistant utilizes machine learning and provides round-the-clock assistance to enable agents to improve customer service.
In the 2018-19 edition, Bluecode was one of 9 cohort companies, offering a mobile payment solution that combines contactless payment using a smartphone with digital value-added services and also enabling payment from merchant and banking apps.
In the 2017-18 edition, AdviceRobo was one of 8 batch members, offering innovative solutions for better risk prediction during onboarding. Among others, they analyze psychometric financial behavioral and biometric data, scores, and profiles for deep insights into the way consumers behave financially.
Click here to apply now and validate your solution with a leading banking partner & hurry up – applications close on 23 October 2020!
Sharing is caring!