Hungary's OTP Group Upgrades Fx Trading With Integral Technology

Central and Eastern European banking major OTP Group has selected Integral to modernise its foreign exchange trading infrastructure, as regional banks continue to invest in digital transformation of their trading operations.

The Hungarian-headquartered bank will implement Integral's suite of solutions including liquidity aggregation, pricing engine, and risk management tools across its network spanning Central and Eastern Europe and Middle Asia.

"We are constantly developing our money and capital markets services to deliver exceptional service and tailored solutions to our regional and global clients. In order to provide even better service than before, we needed a solution that could deliver accurate, flexible and reliable pricing and risk management capabilities across our entire operating area. Integral's proven and extensible technology stood out as the ideal partner to help us achieve these goals," said Attila Bánfi, managing director of OTP Global Markets.

The cloud-based deployment has already been completed at OTP's Budapest headquarters and regional subsidiaries. The technology upgrade aims to enhance pricing accuracy and operational efficiency.

Harpal Sandhu, CEO of Integral, commented: "As a leading bank within Central and Eastern Europe, we are delighted to support OTP Group in optimizing their FX pricing and risk management workflows. With over 30-years of experience and the most advanced technology, Integral is able to offer highly configurable and sophisticated trading solutions to meet the specific needs of regional banks - as we are doing with OTP Group. Our solution will provide OTP Group with the workflow capabilities and environment they need, not only to significantly improve operational efficiency, but crucially their trading workflow capabilities for clients."

OTP Group operates in 11 countries, with nearly 40,000 employees, across Central and Eastern Europe, serving over 17 million customers. 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 in Slovenia 

California-based Integral has provided FX trading technology to financial institutions since 1993.