OTP Group Adopts FICO Originations Solution as Standard Across Europe

Leading Central and Eastern European banking group will improve go to market, risk control and reduce costs with FICO Originations Solution, Powered by FICO Platform

Highlights:

• FICO Originations Solution will allow OTP Group to respond quicker to changing market needs and regulations

• FICO’s experience with cloud solutions is helping OTP Group to innovate

• Cloud-based solution gives OTP Group future-proof efficiencies

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As part of a digital transformation project across its European operations, OTP Group is adopting FICO Originations Solution, Powered by FICO Platform as its standard system for approving retail credit applicants. By standardizing on this solution, OTP Group — one of the largest independent financial services providers in Central and Eastern Europe — aims to improve cost efficiency while increasing its control over risk management for new customers.

FICO’s superior low-code/no-code solution was a key driver for OTP Group in its selection of FICO Originations Solution.

“We conducted a thorough review of the market for originations solutions, and FICO’s platform vision and cloud-first strategy stood out for us, as we can add new capabilities from FICO Platform as we grow,” said Gyorgy Kiss-Haypal, group chief risk officer at OTP. “Another crucial factor in deciding to partner with FICO was trust. FICO’s regional experience with cloud solutions and the company’s leadership in decision management will help us adopt this solution rapidly.”

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OTP Group has grown for years through mergers and acquisitions. Now it is standardizing much of its IT infrastructure, and the FICO solution offers a blend between centralized and local management of decision rules. This will help OTP balance pan-continent standardisation with in-country localisation.

“FICO Originations Solution allows us to standardise workflow whilst still maintaining country-specific rules and processes,” said Kiss-Haypal. “With the solution, we can determine which rules will be managed by the Head Office and which will be managed in the countries.”

“OTP Group has ambitious goals that are perfectly matched to FICO’s solutions,” said Steve Hadaway, regional general manager for FICO in EMEA. “The easy configuration of FICO Originations Solution gives OTP much greater flexibility and speed to adapt to changing market needs and regulations. And because the solution is built on the extensible FICO Platform, the banking group will be able to use the same technology to address other customer needs across the lifecycle, dramatically improving cost efficiency, time to value and customer experience.”

FICO Originations Solution, Powered by FICO Platform is a customer onboarding system for lenders across a multitude of sectors. It enhances origination decisions with flexible strategy and rules creation to maximise profitability and ensure consistently relevant customer experiences. FICO Originations Solution is built on FICO Platform, a cloud-based, AI-powered environment for managing decisions across the enterprise.