OTP Bank to equip its ATM network with the function of cash withdrawal via NFC
OTP Bank plans to equip all of its ATMs with the function of withdrawing cash via mobile phones use with NFC technology, as it was implemented in the first OTP Bank’s digital branch “Mikhailovskoe” in Kiev. Oleg Klymenko, a Board member for Retail Business Development of OTP Bank, stated this during a live broadcast "Transformation of Bank Branches: a Window to the Future" on the financial portal minfin.com.ua Youtube channel.
According to O. Klymenko, the first digital branch launch, which took place in the fall of 2019, was more an image project than a working business model. “Although certain elements of the business model were implemented during the project development, in particular, savings cause of personnel, the paper and cartridges usage, etc., we understood anyway that the main task was to maintain the image of a tech bank,” the banker said.
He also announced that "today, based on customer behavior and experience of certain products and technologies usage in this particular branch, the bank sees definite opportunities to transform the image model into a business one, and, accordingly, gradually scale the experience gained to the entire bank network."
At the same time, OTP Bank, as O. Klymenko stated, will not copy the digital branch and implement it throughout the entire network, but will scale only the technologies that are most in demand and understandable to customers, for example, recycling ATMs and the functionality of withdrawing cash from a card with a mobile phone using NFC technology. “The experience of our pilot digital division has shown that it is exactly the technologies that people understand, use, so that they can and should be scaled up further. Moreover, now customers who have tried the services in the “Mikhailovskoye” branch in Kiev can come to any other our branch and will expect the same level of servicing and technology to be provided there, ” the OTP Bank Board member highlighted.
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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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