OTP Bank welcomes “later-stage” start-ups to its partnership programme
Central and Eastern Europe-serving (CEE) OTP Bank is launching its third international start-up partnership program, which is open to “later-stage start-ups with validated, market-ready products” and scale-ups.
The ‘OTP Start-up Partner Programme’ is now open for applications, which need to be made by 22 November 2019. The programme will be launched next Spring.
For the first time, five of OTP’s subsidiaries will be joining the program, which means the pilot project will take place in other CEE countries besides the Hungary-based bank.
After the 3-month pilot period, the aim is to convert as many start-ups as possible into long-term partners. This is why the programme is supplemented with a 6-month “rollout” period targeted at “top-performing cohort companies”.
As well as including results-driven incentives, the programme also offers a mentor network. Current partners offering mentors include Microsoft, Mastercard, digital consulting company Sprintform, VR company EIT Digital, co-working space provider HubHub and strategic partner for start-ups Block5 Ventures.
The bank is looking for applicants in five categories: advanced data & analytics tools, customer experience and customer servicing, internal efficiency, product innovations, small and medium enterprise (SME) banking and “entirely innovative and disruptive solutions” related to the banking sector.
After completing an online application, selected candidates will be invited to an online interview and those few who make it to the final round will complete a two-day ‘Selection Camp’ next year in Budapest.
“Over the course of our previous two start-up programmes, we examined nearly 500 startups for possible collaboration, and conducted pilot projects with 17 of them,” says OTP Bank’s retail innovation department head András Fischer.
The upcoming three-month pilot and mentoring period will last from early March until late May 2020.