Currency technology provider Integral recently teamed up with Hungary-based OTP Group. In doing so, the firm successfully onboarded another banking client, adding the financial institution to its network.
New Features To Improve OTP Group’s Service
OTP Group is a major bank with over 17 million customers. While it is based in Hungary, it operates throughout Central and Eastern Europe. Thanks to its partnership with Integral, the Budapest-headquartered bank will be able to integrate liquidity aggregation, trading, pricing engine, and risk management solutions.
The new features will further enhance its pricing accuracy, making its services more reliable for the bank’s millions of clients. Additionally, the integration will help the financial institution achieve cost savings regarding its FX operations.
Commenting on the partnership, OTP Global Markets’ Managing Director, Attila Bánfi, stated that the bank is constantly developing its money and capital markets services. It aims to deliver exceptional service and tailored solutions to both its regional and global clients, and the new partnership will be a great help in achieving this goal.
Bánfi stressed that providing an even better service requires the bank to create a solution that could deliver flexible, but still reliable and accurate pricing, as well as advanced risk-management capabilities across its entire operating area. Integral, on its end, offers proven and adaptable technology which stood out to OTP Group, making the company an ideal partner that could allow the bank to achieve its goals.
Integral Continues To Enter Prominent Partnerships
Integral itself has been around for over 30 years, after being established in 1993. The company primarily provides cloud-based AssS FX workflow solutions, and it provides its services to a wide range of forex market participants. That includes brokers, asset managers, hedge funds, as well as other banks.
Earlier in 2024, the firm managed to secure $30 million in growth financing, which came from a Canadian company Vistara Growth, which focuses on enabling business expansions. Before that, in 2023, the firm entered the crypto sector by launching industry-specific technology solutions, many of which were developed in partnership with Mint Exchange.
This includes services such as risk management, aggregation and connectivity to liquidity providers, hot and cold storage custody solutions, as well as desktop and mobile client trading solutions.
Integral also integrated the Bank of Cyprus as another partner last June, allowing it to offer real-time pricing and risk management capabilities as part of its online banking platform. The company’s CEO, Harpal Sandhu, stated that Integral has over three decades worth of experience with advanced technology, allowing it to offer highly configurable and sophisticated trading solutions that can meet the needs of regional banks.
It did it before, and it is doing it now 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 also to enhance their trading workflow capabilities for clients,” he added.