OTP Bank Plc is the largest commercial bank in Hungary with assets totaling US$28 billion. A leader in all financial services sectors, OTP Bank offers more than 1,000 loan, mortgage, saving, credit and debit card, and investment products. It serves 12 million corporate, private, and retail customers in Hungary and eight other countries in central and eastern Europe and has a network of almost 1,500 branches.
OTP Bank wanted to strengthen and simplify asset and liability management and improve modeling capabilities for its portfolio of 1,000 products. It worked with Oracle Partner Loxon Solutions to deploy Oracle Financial Services Asset Liability Management. With Oracle, the bank improved balance sheet forecasting capabilities and incorporated risk management into decision-making at all levels.
OTP Bank chose Oracle Financial Services Asset Liability Management over a competing solution because it offered more comprehensive functionality and ready-to-use features that enabled out-of-the-box operation and ensured faster time to value.
“Oracle’s prepackaged solution offer more functionality for the same price and will enable us to build new capabilities and reports whenever we need them,” said Attila Kovács, department head, Asset and Liability Management Directorate, OTP Bank.
OTP Bank worked with Oracle Partner Loxon Solutions to implement Oracle Financial Services Asset Liability Management in just 12 months. As an early adopter taking part in Oracle’s Strategic Implementation Program, OTP Bank benefited from direct access to Oracle’s development teams and product experts for guidance and advice during the four-month testing period.
“Oracle’s developers and product teams were very responsive to our needs. This helped ensure a smooth go-live and enabled our risk managers to become productive users from day one. We continue to give feedback to Oracle’s development team and suggest enhancements for future releases that could benefit us and other financial institutions,” Kovács said.
OTP Bank chose Oracle Partner Loxon Solutions based on its reputation for implementing risk management solutions in the financial services sector. Awarded “Leader in Technology Innovation 2008” by Oracle Hungary, Loxon has been listed as one of Oracle's top 20 partners for the financial services industry in the Europe, Middle East, and Africa region. Loxon managed the implementation end-to-end and trained OTP Bank’s key users and IT staff.
“Loxon’s business and technology know-how were essential to our successful deployment of Oracle Financial Services Asset Liability Management. We will continue to rely on Loxon’s expertise as we roll out the full functionality in Hungary and replicate our success in other countries,” Kovács said.