OTP Romania Private Banking boosts its wealth management game

Founded in 1949, OTP Bank is the prominent leader of the CEE region with a powerful presence in 12 countries. For over 15 years it has been developing a special service for its elite customers on the international banking market – OTP Private Banking currently manages wealth of €6,1bn for their more than 60k clients in the region.

Forward-looking solutions for current issues

OTP has a clear vision of providing an exceptional and up-to-date service to the more sophisticated needs of their affluent clients. To achieve this desired level of service, the work of their Relationship Managers (RMs) had first to be streamlined. Just like many other banks in recent years, they have been struggling with an inadequate technological footing for their wealth management service and have been providing manual portfolio reporting and presentation solutions created with spreadsheets. These workflows were time consuming and extremely inefficient. With the implementation of MiFID2 around the corner, OTP Romania had to explore solutions granting regulatory compliance and took the opportunity to handle their multiple challenges simultaneously and look for a solution supplemented with portfolio reporting tools.

“In line with OTP’s values, we sought to enable our RMs to focus on what is truly important – our clients and all their various needs. Partnering with Dorsum allowed us to provide the perfect system for our demands.” – said Corina Elena Stoica Director, OTP Romania, Private Banking.



An efficient way to look at portfolios

OTP Romania front office client advisors are now equipped with a toolset that allows them to see a truly 360-degree portfolio overview. This holistic picture provides the client advisors with details about client income statements, balance sheets, investment and non-investment portfolio overviews.

Spread wealth management know-how to RMs

The implemented platform provides a proper tool to distribute the bank’s central wealth management knowledge supplemented with Dorsum’s experience and know-how to their client advisors’ network. With 500+ front office client advisors using the solution during their everyday tasks, OTP achieved a way to channel their investment expertise and ideal client meeting structures to their sales network.
Increase network efficiency with simple solutions Dorsum’s solution enabled OTP to rethink and streamline their mutual funds distribution business system and provided simplified solutions even for the most complicated workflows. This empowered OTP managers to focus more on business development and enabled their RMs to spend significantly more time with their clients, based on a platform that works as a CRM system, as well.

Tackling data issues together

The lack of a data warehouse and data quality issues induced several challenges during the implementation of the new platform. With Dorsum’s expertise, the joint OTP-Dorsum team managed to consolidate the data from different sources to enable the smooth operation and value added services of WMP. This data cleansing and standardizing prepared OTP’s systems for facilitating the import of a 5.000+ investment portfolio. By Dorsum’s experts tackling data issues, the implemented platform now contains structured data which can be used by all branches of the bank for analysis and the utilizing of cross-sell opportunities.

“Dorsum not only provided a system that streamlines our workflows, but also stepped up as consultants during the project and helped us with their comprehensive know-how.” -summarized Corina Elena Stoica Director, OTP Romania, Private Banking.

Interested in to learn more? Download the whole case study.

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