Introduction
OTP Group, a prominent financial services provider in Central Europe, embarked on a comprehensive digital transformation journey with FlowX.AI. The partnership began with a pilot project aimed at transforming the cash loan experience in Hungary, which quickly expanded to a broader initiative now live in two countries.
This case study highlights the strategic partnership, the challenges faced, the innovative solutions implemented, and the impressive results achieved.
The Challenge
OTP Group faced several critical challenges that necessitated a comprehensive transformation of their business processes, applications and technology:
- Fragmented customer experience: OTP needed to streamline the cash loan application process to enhance customer satisfaction.
- Scalability issues: Expansion plans required a solution that could be rapidly deployed across multiple countries.
- Legacy systems: Outdated technology hindered the integration of modern applications and slowed down development cycles.
- Resource constraints: A large number of developers were occupied with maintaining legacy systems, limiting their ability to innovate.
- Operational inefficiencies: Complex workflows and multiple integration points slowed down operations and increased costs.
The Solution
OTP Group chose FlowX.AI to drive its digital transformation, focusing on accelerating development, modernizing technology, and streamlining processes. Key aspects of the solution included:
Omnichannel experiences:
- Web & mobile integration: Pre-approved cash loans went live in Croatia on both web and mobile platforms, with plans to extend the solution to Serbia by the end of 2024.
Faster development:
- FlowX.AI Center of Excellence (CoE): Established to enable developers to quickly learn and get certified on the FlowX.AI platform.
- Pilot-to-project expansion: A 16-week pilot to transform the cash loan experience evolved into a larger project, now LIVE in Croatia and soon in Serbia. The web & mobile cash loan project became the first business application in the cloud in Croatia, with green light from the National Bank.
Process optimization:
- Seamless integration: FlowX.AI’s platform allowed OTP to integrate new and existing systems efficiently, reducing operational complexity.
- Enhanced customer journey: Simplified processes and a unified customer experience led to faster and more efficient service delivery.
Results
The partnership with FlowX.AI delivered significant results:
Integration complexity
The pre-approved cash loan solution involved integrating:
- 60+ integration points
- 29 Azure managed services
- 40+ APIs
- 500+ data points
- 200+ business rules
- 100+ decision logic elements
- 14,000 rows in the longest payload
Business impact:
- Enhanced customer experience: The streamlined cash loan application process significantly improved customer satisfaction. The customer’s online journey now takes up to 8-10 minutes and 13 clicks to complete.
- Scalability: The solution is now LIVE in two countries, with plans to extend to six more.
- New customer channel: With PPI getting sold entirely online and 100 loans already disbursed in the first 2 months, the new business application became a new channel for addressing specific customer needs.
Technology advancements:
- Rapid deployment: The FlowX.AI platform enabled faster development cycles and reduced time to market.
- Integration with legacy systems: Seamless integration allowed OTP to modernize without a complete overhaul.
Process improvements:
- Operational efficiency: Reduced complexity and streamlined processes led to lower operational costs and faster service delivery.
- Developer enablement: The establishment of the FlowX.AI CoE facilitated rapid learning and certification of OTP’s developers, driving continuous innovation.
Conclusion
OTP Group’s partnership with FlowX.AI has been a catalyst for comprehensive digital transformation, driving faster development, modernizing technology, and optimizing processes. This multi-layered approach has not only addressed immediate challenges but also positioned OTP Group for future growth and innovation.
By leveraging FlowX.AI's cutting-edge platform, OTP Group has enhanced customer experiences, improved operational efficiency, and set a new standard in digital banking.
Introduction
OTP Group, a prominent financial services provider in Central Europe, embarked on a comprehensive digital transformation journey with FlowX.AI. The partnership began with a pilot project aimed at transforming the cash loan experience in Hungary, which quickly expanded to a broader initiative now live in two countries.
This case study highlights the strategic partnership, the challenges faced, the innovative solutions implemented, and the impressive results achieved.
The Challenge
OTP Group faced several critical challenges that necessitated a comprehensive transformation of their business processes, applications and technology:
- Fragmented customer experience: OTP needed to streamline the cash loan application process to enhance customer satisfaction.
- Scalability issues: Expansion plans required a solution that could be rapidly deployed across multiple countries.
- Legacy systems: Outdated technology hindered the integration of modern applications and slowed down development cycles.
- Resource constraints: A large number of developers were occupied with maintaining legacy systems, limiting their ability to innovate.
- Operational inefficiencies: Complex workflows and multiple integration points slowed down operations and increased costs.
The Solution
OTP Group chose FlowX.AI to drive its digital transformation, focusing on accelerating development, modernizing technology, and streamlining processes. Key aspects of the solution included:
Omnichannel experiences:
- Web & mobile integration: Pre-approved cash loans went live in Croatia on both web and mobile platforms, with plans to extend the solution to Serbia by the end of 2024.
Faster development:
- FlowX.AI Center of Excellence (CoE): Established to enable developers to quickly learn and get certified on the FlowX.AI platform.
- Pilot-to-project expansion: A 16-week pilot to transform the cash loan experience evolved into a larger project, now LIVE in Croatia and soon in Serbia. The web & mobile cash loan project became the first business application in the cloud in Croatia, with green light from the National Bank.
Process optimization:
- Seamless integration: FlowX.AI’s platform allowed OTP to integrate new and existing systems efficiently, reducing operational complexity.
- Enhanced customer journey: Simplified processes and a unified customer experience led to faster and more efficient service delivery.
Results
The partnership with FlowX.AI delivered significant results:
Integration complexity
The pre-approved cash loan solution involved integrating:
- 60+ integration points
- 29 Azure managed services
- 40+ APIs
- 500+ data points
- 200+ business rules
- 100+ decision logic elements
- 14,000 rows in the longest payload
Business impact:
- Enhanced customer experience: The streamlined cash loan application process significantly improved customer satisfaction. The customer’s online journey now takes up to 8-10 minutes and 13 clicks to complete.
- Scalability: The solution is now LIVE in two countries, with plans to extend to six more.
- New customer channel: With PPI getting sold entirely online and 100 loans already disbursed in the first 2 months, the new business application became a new channel for addressing specific customer needs.
Technology advancements:
- Rapid deployment: The FlowX.AI platform enabled faster development cycles and reduced time to market.
- Integration with legacy systems: Seamless integration allowed OTP to modernize without a complete overhaul.
Process improvements:
- Operational efficiency: Reduced complexity and streamlined processes led to lower operational costs and faster service delivery.
- Developer enablement: The establishment of the FlowX.AI CoE facilitated rapid learning and certification of OTP’s developers, driving continuous innovation.
Conclusion
OTP Group’s partnership with FlowX.AI has been a catalyst for comprehensive digital transformation, driving faster development, modernizing technology, and optimizing processes. This multi-layered approach has not only addressed immediate challenges but also positioned OTP Group for future growth and innovation.
By leveraging FlowX.AI's cutting-edge platform, OTP Group has enhanced customer experiences, improved operational efficiency, and set a new standard in digital banking.
