OTP Bank customers may prepare for change: details also revealed

Among the many developments at OTP Bank, one of the most significant innovations of the year was the new Internet, mobile banking and the related Digital Services Agreement (DSZ). By the end of November this year, more than 500,000 people had registered for the new service.

The number of regular users of mobile banking has doubled in the last year and a half,

Therefore, the bank has accelerated the development of the new mobile banking application. Thanks to this, all the functions currently available in the retail SmartBank will be available in the new OTP Mobilbank application, which is expected next spring. All this will allow the credit institution to launch the SmartBank service for individuals from March 1 next year, and retail customers will only use the new mobile application.

By the way, the development of new digital services for corporate clients has already begun, and OTPdirekt and the SmartBank application for them will continue to be used in OTP.

You can still log in, but only one feature will be available

After the restrictions on SmartBank for Individuals are removed, retail bank customers will still be able to log into the previous application, but once logged in, the simpler and specific registration for the new InternetBank and MobilBank will be available to them within the application. Those who want to do this can now start their registration from the “legacy” applications – SmartBank, OTPdirekt internetbank – or from the OTP Bank website, or by downloading the new OTP MobilBank application from the App Store or Google Pay.

Once downloaded, customers can create a new digital user account with a few simple steps of signing a digital services agreement. You can then try out the new online banking and mobile banking features.

“Renewing our digital channels means not only writing new software and developing our IT infrastructure, but also a complete functional and surface renewal. In order for our customers to manage their finances as easily as possible with our new digital solutions, we also need to adapt the legal environment, the existing contractual relationship Between the bank and our customers, with new age expectations. This new, changed set of rules is the Digital Services Agreement, which will eventually replace the OTPdirekt contract. Our new online and mobile banking services are only available with this contract,” he told Wallet András Kuhárszki, Head of Digital Channel Development at OTP Bank.

According to the expert, the future goal is for the online world of the bank to be “just as global as currently offline accounts,” so that all products or services are available online in the same way as in branch management.

As we have learned, all the important functions that will be available in SmartBank will be available until the end, and even a number of additional functions that are not available in SmartBank (such as expense monitoring, display of savings portfolio, instant application notifications, donations, Openbank, purchase of government securities, the possibility of filtering many transactions, exact location of transactions using map view, etc.).

A new application usually includes new improvements or minor changes every two weeks.

With the removal of SmartBank, the card transfer function will be canceled, and the instant transfer function can be used in the new application. Once Smart Bank is phased out, it will only be possible to approve online purchase transactions in the new MobilBank, so those who may not register in the new application by March 1, 2022 will only be able to approve these transactions via SMS and token until download The new application and registration in it.

Instead of SMS MobilBank’s new, instant, so-called OTP user can be notified of card transactions and cash movements on their accounts in payment messages (application messages).

In addition, they will receive a push message to confirm online banking login/transactions. In the case of registration with the Mobile Bank, users will also be notified of the approval of online purchases in a push message. As planned, the Bank will make its communications with its customers more “live”, encouraging them to enter the mobile phone or the Internet more frequently, where they can be more effectively notified about their personal offers.

The bank can also communicate more effectively with the customer

András Kuhárszki also said that in the case of the new Internet and Mobile Bank, one of the important changes lies in the method of identification: all you need to log in is an email address instead of our Internet Bank ID (HAZ) and our account number. In the future, OTP clients will be required to authenticate based on the email address of all digital interfaces that require login, with unified password management. This will provide easier and more convenient access to Internet interfaces, but will also make it easier for the bank to keep in touch with customers through their usual email address.

“Today, it is a fundamental expectation, in addition to comprehensive functionality, that customer service will be continuous and stable, which means that version changes can be resolved without interruption of service. This also applies to brand new interfaces and newly introduced features. The new Internet bank and mobile bank are designed and developed , as well as back-end systems serving it directly, based on the latest and best professionally recognized technology trends. In this way, we can ensure continuous availability.” Digitization header has been added.

The new Online and Mobile Banking is designed to be a solution that better suits customers’ needs, so there has never been a unit that hasn’t been thought or re-engineered. The most important and most demanding business improvements are related to the core functions of the system, such as identification and authentication, financial planning, transaction management, and the creation of log data saved by the application.

Creating a savings portfolio or applying for a personal loan was also a very dangerous task.

New features are constantly being tested, and the bank is also involved in the planning process, so that their feedback can be taken into account when designing final solutions.

The costs will change as well, but mobile banking will remain free for now

OTP Bank currently provides its online services to retail customers under two types of contracts, OTPdirekt contract (including existing OTPdirekt internet bank, smart bank, telephone agent services, SMS control services) and the symbiosis of the new Digital Services Agreement (DSZ), for At the moment, the presence of an OTPdirekt retail contract is a condition of using the DSZ.

During the period of promotion during the parallel process and the development of new services, the Bank will not charge a separate monthly fee for using the Internet and mobile banking services available under the new DSZ,

Depending on the current tariff plan, customers will still pay only the current tariffs of the OTPdirekt contract. Currently, the announced promotion period runs until April 30, 2022, so after SmartBank’s withdrawal, the new digital services can still be used for free for a while.

The monthly fee currently stated, but released during the promotion period, applies to all services provided under the DSZ (not only for use of the new application), including fees for application messages and other add-ons, regardless of the number of items. The transaction fee on DSZ is the same as the fee for the same type of transaction on OTPdirekt. There will also be a free package planned, similar to OTPdirekt.

Customers will be able to choose among the offerings according to their needs and usage habits. Depending on the tariff plan, you will not have to pay a separate per-message fee for payment messages in the new mobile bank, which may mean a cost savings for many compared to the current Control SMS costs. OTP Bank will send a notification to its customers about the end of the promotion period and the introduction of DSZ fee packages.

Publish the article is OTP . Bank supported. The information is not complete, so please refer to the business regulations and announcements posted on OTP Bank branches and website (www.otpbank.hu) for more details.

Cover photo: OTP Bank