OTP Bank has announced a significant partnership with Iliad Solutions, marking a pivotal step in its ongoing commitment to FinTech innovation.
OTP Bank is celebrated for its extensive operations across 12 countries within the Central and Eastern Europe (CEE) and Middle Asia regions, including Albania, Bulgaria, Croatia, Hungary, Moldova, Montenegro, Romania, Russia, Serbia, Slovenia, Ukraine, and Uzbekistan, with OTP Bank Hungary serving as the parent company. On the other hand, Iliad Solutions stands out as a leader in payment testing solutions, offering its flagship enterprise-grade, browser-based digital payments testing platform, t3.
The partnership’s core objective revolves around OTP Bank licensing Iliad Solutions’ t3, a cutting-edge platform designed to elevate the bank’s payment capabilities and solidify its position as a leading financial institution. This collaboration underscores a mutual dedication to driving digital payment innovation and efficiency.
OTP Bank’s operations span a vast network, serving clients across the CEE and Middle Asia regions. The bank’s strategic focus on leveraging advanced technology for payment testing is a testament to its forward-thinking approach to banking and financial services. Similarly, Iliad Solutions’ expertise in providing sophisticated payment testing solutions enables financial institutions worldwide to minimize risk, reduce testing costs, and accelerate the launch of new payment systems.
This partnership promises to remove friction from the complex process of bringing new payment initiatives to market by offering automated, efficient, and cost-effective testing solutions. Iliad’s t3 platform facilitates a dynamic adoption of digital payments through simplified and automated testing processes, benefiting both parties and their clientele.
Additional details about the partnership include the emphasis on using t3 for its advanced payment testing capabilities, capable of executing up to 15,000 transactions per second, and the application of sophisticated controls and real-time data monitoring via intuitive dashboard views.
“Effective payment testing is key to our future success and expansion. Using cutting-edge testing technology helps us achieve this. t3 is one of the most advanced payment testing platforms in the world, we value the opportunity to access its capabilities through this new partnership,” OTP Bank Director of Card Payments, Ábel Bagaméry, said.
Iliad Solutions CEO Anthony Walton also expressed enthusiasm, stating, “We are delighted that OTP Bank has chosen Iliad’s t3 solution as its strategic testing platform to support its next phase of modernisation and digital development. We look forward to working with OTP in a fruitful relationship across the bank’s markets. It’s great to be doing new business in the CEE region.”
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