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OTP Bank switched to centralized electronic document management for pensions and cash aid payment

09/ 04/ 2021
  OTP Bank switched to centralized electronic document management for the payment of pensions and cash aid to the banks customers from April 1, 2021 within the framework of interaction with the Pension Fund of Ukraine. The transition became possible due to changes in the procedure for pensions and cash benefits payment via client’s current accounts, approved by the Cabinet of Ministers Resolution №1596 of 30.08.99. Valentyna Rozanova, Head of the Retail Business and Lending Department of OTP Bank announced this. According to V. Rozanova, the transition to the centralized electronic document management has improved the cooperation between the bank and the Pension Fund in the area of pensions payment to the retirees served by the bank, allowed to give up the co-operation with each regional office of the PFC separately and the paper documents exchange. In addition, the usage of automated electronic services and secure communication channels speeds up the pension payment process and better protects data transmission. OTP Bank has been an authorized bank of the Pension Fund of Ukraine since May 2018 and offers clients the opening of pension cards for pensions and social assistance at 86 branches throughout Ukraine. Joint Stock Company OTP BANK is one of the biggest Ukrainian banks with foreign capital, which is a recognized leader in the countrys financial sector. The bank provides a full range of financial services for corporate and private clients, as well as small and medium-sized businesses. It has been represented on the Ukrainian market since 1998, has a strong reputation as a socially responsible, reliable and stable structure offering consumers services of European quality. Its 100% owner is the largest Hungarian bank OTP Bank Plc. Since 2019, according to the decision of the NBU, OTP Bank has been included in the list of systemically important banks in Ukraine that have a significant impact on the development of the countrys financial system. In Ukraine, OTP BANK JSC acts as the flagship of the OTP banking group, registered by the National Bank of Ukraine, which also includes AMC OTP Capital LLC and OTP Leasing LLC. Follow OTP Bank news on social networks Facebook, Twitter, Youtube, Instagram, Telegram and Viber.

OTP Bank switched to centralized electronic document management for the payment of pensions and cash aid to the bank’s customers from April 1, 2021 within the framework of interaction with the Pension Fund of Ukraine. The transition became possible due to changes in the procedure for pensions and cash benefits payment via client’s current accounts, approved by the Cabinet of Ministers Resolution №1596 of 30.08.99. Valentyna Rozanova, Head of the Retail Business and Lending Department of OTP Bank announced this.

According to V. Rozanova, the transition to the centralized electronic document management has improved the cooperation between the bank and the Pension Fund in the area of pensions payment to the retirees served by the bank, allowed to give up the co-operation with each regional office of the PFC separately and the paper documents exchange. In addition, the usage of automated electronic services and secure communication channels speeds up the pension payment process and better protects data transmission.

OTP Bank has been an authorized bank of the Pension Fund of Ukraine since May 2018 and offers clients the opening of pension cards for pensions and social assistance at 86 branches throughout Ukraine.

Joint Stock Company “OTP BANK” is one of the biggest Ukrainian banks with foreign capital, which is a recognized leader in the country’s financial sector. The bank provides a full range of financial services for corporate and private clients, as well as small and medium-sized businesses. It has been represented on the Ukrainian market since 1998, has a strong reputation as a socially responsible, reliable and stable structure offering consumers services of European quality. Its 100% owner is the largest Hungarian bank OTP Bank Plc.

Since 2019, according to the decision of the NBU, OTP Bank has been included in the list of systemically important banks in Ukraine that have a significant impact on the development of the country’s financial system.

In Ukraine, OTP BANK JSC acts as the flagship of the OTP banking group, registered by the National Bank of Ukraine, which also includes AMC OTP Capital LLC and OTP Leasing LLC.

Follow OTP Bank news on social networks Facebook, Twitter, Youtube, Instagram, Telegram and Viber.

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