News from the Wire

OTP Bank selects Iliad Solutions for payment testing

Friday, March 01, 2024 — 07:00:35 (EST)

West Yorkshire, UK and Budapest, Hungary -- March 1st 2024 -- OTP Bank, a listed retail and corporate bank based in Budapest, Hungary, has selected Iliad Solutions as its payment testing provider in a new multi-year deal.

OTP Group currently operates in 12 countries located in the Central and Eastern Europe (CEE) region, namely Albania, Bulgaria, Croatia, Hungary, Moldova, Montenegro, Romania, Russia, Serbia, Slovenia, Ukraine, and in the Middle Asia region Uzbekistan, OTP Bank Hungary being the parent company. OTP Bank will licence t3, Iliad’s flagship enterprise-grade, browser-based digital payments testing platform providing cutting-edge, automated testing options helping drive OTP’s payment capabilities and its position as a leading financial institution.

Ábel Bagaméry, Director, Card payments, OTP Bank said: “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.”

Anthony Walton, Iliad Solutions CEO commented “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.”

Removing friction from the complex process of getting new payment initiatives to market quickly, efficiently and at a reasonable cost has never been more important. t3 helps facilitate a dynamic adoption of digital payments through a simplified and automated testing process to the benefit of all. Iliad’s products and services are used by leading financial institutions around the globe helping to minimise risk when deploying new payments technology, reducing the costs associated with testing and improving the speed of launching new systems.

Sophisticated controls can be applied to projects at every level, with real time data available via intuitive dashboard views. t3 allows the testing of complex transactions simply and effectively - tests are fully automated and can run at up to 15,000 transactions per second. For more information, please visit: www.iliad-solutions.com and www.otpgroup.info/home

About Iliad Solutions

For over 25 years, Iliad Solutions has been at the forefront of building, implementing and supporting major payment solutions. Our experience has led us to develop the most comprehensive and resilient test solutions available in the world today, and our global customer base trusts us to take the risk out of payment testing.

With Iliad Solutions, you can:

 automate payment testing, which significantly reduces your project costs.

 simulate a real-world transaction path with multiple legs, interfaces and keys (including tokenisation).

 test the business flow as opposed to simulating individual pieces of the transaction.

 enable your teams to work rapidly, with more control and greater visibility of results.

 forensically analyse test results, which saves time and increases the effectiveness of test teams.

 decrease risk through end-to-end testing in new deployments, which helps to protect your brand from high profile failures.

People using Iliad save time and money, and increase the confidence in their core systems.

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 more than 41,000 employees in 12 countries of the CEE and Central Asian region, the Group provides universal financial services 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 23 banks since the early 2000s. Currently, the Bank is a market leader in Hungary, Bulgaria, Serbia, Montenegro, and in Slovenia*. OTP Group is headquartered in Hungary and has a diversified and transparent ownership structure. The Banking Group has been listed on the Budapest Stock Exchange since 1995.

*Hungary, total assets, 31 Dec 2022; Montenegro, total assets, 30 June 2023; Bulgaria, loan, 30 June 2023; Serbia, loan, 30 September 2022; Slovenia, loan, 30 June 2023

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Source: Company press release.