OTP Russia to launch Touch Bank platform

Food

The Russian unit of Hungarian OTP Bank is launching a branchless banking platform branded Touch Bank in September, according to project manager Andrei Kozliar, Russian business daily Kommersant reported today.

Kozliar said clients would be offered a deposit card with an annual interest rate of 14% initially, and lending products would be launched in the near future.

OTP is spending €40 mln on the launch and has already began test operations in Nizhny Novgorod, Rostov-on-Don, Samara and Volgograd, the paper said, adding that the only lender to offer branchless banking in Russia at present is Tinkoff Bank.

ADVERTISEMENT

EUR 1.4 bln Trade Deficit in November Trade

EUR 1.4 bln Trade Deficit in November

Gov't Guarantees on Liabilities Climb Over 9% of GDP in 2021 Government

Gov't Guarantees on Liabilities Climb Over 9% of GDP in 2021

Egypt Raises Order of Hungarian Rolling Stock to EUR 1.1 bln Transport

Egypt Raises Order of Hungarian Rolling Stock to EUR 1.1 bln

European Capital of Culture Program Set to Boost Economy - N... Art

European Capital of Culture Program Set to Boost Economy - N...

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.