Axe Finance Partners with OTP Group in Central & Eastern Europe
The Netherlands, October 31 2024 - Axe Finance, the global market leader in digital lending solutions, has entered into a partnership with OTP Group to deliver innovative lending solutions, to fully digitalize its corporate lending
OTP Group, following a thorough international selection process, has chosen Axe Finance to enhance and automate its end-to-end corporate lending process. The cooperation with Axe Credit Portal (ACP)will entail cutting-edge automation features from the Axe Credit Portal (ACP), including loan origination and decisioning, through to disbursement.
OTP Group is one of the fastest growing banking groups in the Central and Eastern European region. It is now present in 11 countries of the CEE and Central Asian region, provides universal financial services close to 17 million customers, including corporate clients. The Group aims to further improve the efficiency of its well-established corporate lending activities by standardizing financing journey to its corporate clients’ group-wide, including the tools of digitalization.
György Gáldi, Group Corporate Risk Managing Director, and Zoltán Tóthmátyás, Group Corporate Managing Director, Commercial Bank Division at OTP Group, said:
This collaboration with Axe Finance is an important milestone in our journey to standardize our corporate lending and credit portfolio monitoring capabilities group wide. Their consistent investment in R&D, reflected in their innovative ACP software suite, has convinced us that this collaboration could deliver benefits in terms of financing efficiency for our corporate client groups even at regional level.
Dhafer Berrachid, CEO at Axe Finance, said:
Axe Finance continues its expansion in Europe and our recent partnership with OTP Group is a major leap forward in the corporate lending automation arena. Whilst leveraging ACP on the cloud, OTP Group will be able to offer a standardized financing journey to their corporate clients group wide, while mitigating risks and enhancing credit portfolio quality. Axe Finance will be a technology catalyst of this credit transformation, and we look forward to a successful collaboration. We aim to bring excellence and measurable added value to OTP Group. A sound achievement of this project will be the standardization of corporate lending practices while leveraging country specificities by creating a more streamlined, multi-entity solution.
About Axe Finance
Founded in 2004, a global market-leading software provider focused on credit risk automation for lenders looking to provide an efficient, competitive, and seamless omnichannel journey.
Axe Finance developed Axe Credit Portal – ACP – a future-proof AI-driven solution to automate the entire credit lifecycle from KYC to servicing including origination, credit scoring, servicing, and automatic decision-making. ACP is a multi-segment digital lending solution covering not only Retail, Commercial, Corporate, FIs, and Sovereign segments, but also other specific types of lending such as Microfinance, BNPL, embedded financing, and Islamic finance.
About OTP Group
OTP Group is one of the fastest growing and one of the leading banking groups in the Central and Eastern European region, with outstanding profitability and a stable capital and liquidity position. With nearly 40,000 employees in now 11 countries of the CEE and Central Asian region, the Group provides universal financial services close to 17 million customers. As the most active consolidator in the banking sector of the Central and Eastern European region, the Group has successfully acquired and integrated 25 banks since the early 2000s. Currently, the Bank is a market leader in Hungary, Bulgaria, Serbia, Montenegro, and Slovenia*. OTP Group is based in Hungary and has a diversified and transparent ownership structure. The Banking Group has been listed in the Budapest Stock Exchange since 1995.
* In terms of total assets: Hungary (31/12/2023), Montenegro (31/12/2023), in terms of total loans: Bulgaria (31/12/2023), Serbia (30/09/2023), and Slovenia (30/09/2023)
