OTP Bank switched to centralized electronic document management for pensions and cash aid payment
OTP Bank switched to centralized electronic document management for the payment of pensions and cash aid to the bank's customers from April 1, 2021 within the framework of interaction with the Pension Fund of Ukraine. The transition became possible due to changes in the procedure for pensions and cash benefits payment via client’s current accounts, approved by the Cabinet of Ministers Resolution №1596 of 30.08.99. Valentyna Rozanova, Head of the Retail Business and Lending Department of OTP Bank announced this.
According to V. Rozanova, the transition to the centralized electronic document management has improved the cooperation between the bank and the Pension Fund in the area of pensions payment to the retirees served by the bank, allowed to give up the co-operation with each regional office of the PFC separately and the paper documents exchange. In addition, the usage of automated electronic services and secure communication channels speeds up the pension payment process and better protects data transmission.
OTP Bank has been an authorized bank of the Pension Fund of Ukraine since May 2018 and offers clients the opening of pension cards for pensions and social assistance at 86 branches throughout Ukraine.
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Public Joint Stock Company OTP Bank is a subsidiary of OTP Bank, which is the largest independent Central-Eastern-European banking group. JSC OTP Bank is one of the largest domestic banks, a recognized leader in the financial sector of Ukraine. The Bank provides a full range of financial services to corporate and private customers, as well as to small and medium enterprises. The bank entered the Ukrainian market in 1998, and since then it enjoys a staunch reputation of socially responsible, reliable and stable institution providing its consumers with services of European quality standard.
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