Posted by & filed under Accelerator, Banking, Fintech, Innovation, Startups.

It’s clear that for startups, having a big bank as a partner is crucial. And that OTP Bank is such a partner. It can make it or break it. It makes your startup bank-validated. But collaboration is not a one-way street. Tweet this. You also need to understand your partner and their motives; why they want to collaborate with you. After all, those are the things that will shape how the future collaboration will really be in practice.

We had a chat with key people in OTP Bank to find out and share with you. And let me tell you, startups are in for a treat.

“When we find something exciting for our customers, we devote to developing it here”, says Tamás Schenk, Head of Digital Transformation Program Management Office.

Here are some of the core ideas that stood out. Let’s dive into them:


New ways in banking

It’s no surprise that banking is being transformed. Digitalization has a great impact on the way that banks operate. This affects both their internal process and their interaction with customers.

And whenever there’s big change, you need to explore many options, to make the best out of the change. “It’s not likely that all the best ideas are the ones that we have”, says Schenk. “Startups can provide us with innovative business opportunities”, adds Peter Csányi, Head of Digital Sales and Development Directorate.

OTP Bank themselves are innovative, but they recognize that the world is full of great ideas. And that’s why working with others like startups just makes a lot of sense. Tweet this.


New partners

But ideas are… only that, ideas. In the startup world, we know that it’s all about the execution. Tweet this. And in the case of fintech and banks, a good execution requires knowing with whom to collaborate. “Banking will be different. That’s the reason why we need external input also”, says Ferenc Böle, Head of IT Project Management and Methodology Directorate.

In this sense, OTP Bank is taking a step towards that future. They’re looking for startups that can make a difference. “Solutions that can shake the whole market”, clarifies Peter Benyó, CEO of OTP Mobile. Tweet this.

They have a will to work together with startups, to transform banking for the better. “Many banks see startups as competitors, but we don’t”, states András Fischer, Head of Retail Innovation Department.

Instead of competing, they’re looking for the right startups to be working with.


New ways of working

The third big reason why OTP Bank wants to collaborate with startups is to learn. “To transform our way of work and our thinking”, adds Schenk. “Startups can accelerate our learning”, adds Fischer. They even put learning as one of the program themes!

Corporate-startup collaboration is not easy. One of the biggest barriers is rigidness or bureaucracy on the corporation’s side. That’s why startups need to pick big banks who are willing to learn and adapt during the process. And OTP Bank is such a partner. They are ready to really work with the startups instead of just expecting results with no work from their side.

All in all, OTP is looking for startups who think outside of the box. Startups who are looking to enter a fruitful partnership. Tweet this. And startups who will help them become better themselves.