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OTP Banka Srbija Star Trek Improvement Program 2023

Jun 5, 2024 | Project Management News

The Serbian OTP Bank continued to strengthen in 2023, with the help of the Star Trek Improvement Program

In 2021, after two successful banking integration projects and serving more customers than ever before, OTP banka Srbija became the market-leading bank with the largest branch network in the field of lending in the Serbian banking market.

However, the work did not stop there, as further transformation, development and modernization were necessary in connection with business operations after the four-year integration period, in order for OBSr to truly become the largest market-leading bank in Serbia.

OTP Bank Serbia Novi-Sad building

In the fall of 2021 under this aegis, based on the previous successful Sirius and Rising Star Integration Projects, an initiative called the Star Trek Program was launched, which led the bank on the way to development along four main strategic goals. These were enhance customer experience, data-driven management, digitize and improve operations, and build digital culture and expand offer. Our company, MINDSPIRE Consulting, could support the OTP Group again during this entire banking transformation process, providing project management services for the Serbian team.

With its 26 initiatives, the Program significantly contributed to the implementation of OBSr’s strategy during its 21 months of operation. In the framework of 20 strategic projects and 40 strategic activities, the initiative delivered its result products: the more than 500 IT developments, optimization of more than 60 banking processes and 85 OTP Group related harmonization activities.

The management of OTP Bank confidently guided the organization through the challenging tasks, which the local teams carried out using their professional knowledge and outstanding commitment, beside the support of the parent company of the OTP Group. The Star Trek program was managed efficiently and smoothly by a PMO team consisting of Serbian and Hungarian colleagues trained and accustomed during the previous banking integration projects.

The more than 500 smaller and larger IT developments contributed significantly to the improvement of banking functionalities, positively influencing the bank’s offers to customers, the quality of the service, and thus the customer experience, both in the retail and corporate segments. Thanks to this, even after the first year of the program, the bank was able to successfully increase its brand awareness and the number of new customers both through its partners and its private banking service. In addition, more than 60 banking processes were reviewed, simplified, and improved, optimizing the daily operational processes.

OTP Bank Serbia Belgrade building

All of this was accomplished even though the market conditions significantly affected the bank’s activities and opportunities, as the economic effects of the neighboring war situation constantly hovered over the financial institution’s head like a sword of Damocles.

In addition, the ever-changing market regulatory requirements had to be met during the day-to-day maintenance of the bank’s business as usual operation.

However, the sponsors and project management of the Star Trek Program ensured smooth operation by continuously monitoring and analyzing market and internal risks, defining, and implementing the necessary and appropriate mitigation actions. The management continuously evaluated the situation, kept in mind the lessons learned and experiences gained throughout the handling of the challenges, and made decisions with sufficient flexibility during the entire course of the program.

In addition to the introduction of the JIRA task- and project management system, the local prioritization model developed with the intensive contribution of MINDSPIRE also provided a great support for this journey, which showed a sufficiently objective direction during the necessary redesigns. As a result, the enthusiastic Serbian team was able to master the current challenges with a hard but effective work, which of course also required smooth communication between the local team members and the employees of the parent company, as well as the appropriate knowledge sharing between the subsidiaries.

Overall, it can be said that during the implementation of the Star Trek Program of OTP banka Srbija, we witnessed a real teamwork, as a result of which the initiative, originally planned for three years, progressed so successfully that after almost two years a significant part of all its deliverables could be realized.

Thus, the program could be closed at the end of the summer of 2023, a year and a half earlier than planned, but despite this, it still fulfilled its most important goals in terms of business innovations and product services, which were positively received by customers. In addition, the remaining tasks can be carried out by the OTP employees during their normal work schedule, thus saving the extra administrative and cost burdens associated with program management.

Highlight: We were very pleased that our company, MINDSIRE Consulting, using its previous cooperation experience in integration projects, was again able to support the Serbian OTP bank with a smaller team during the implementation of this interesting transformation program, focusing on the parent company’s operational and senior management relations, prioritization of the various program elements, and risk management.

Hereby, we would like to congratulate the entire OBSr team and wish them success and dedication in their further activities!

Our Clients Said

Mihajlović - EN
Predrag Mihajlovic

Predrag Mihajlović

OTP bank Srbija
President of the Executive Board

“Together with MINDSPIRE, we found the right course in all challenges during two successfully completed integrations in three years. Through the exchange of ideas and knowledge, we achieved our goals and we can say that it was great to work with the professional MINDSPIREteam.”

Hadnadjev - EN
Srdjan Hadnadjev

Srdjan Hadnadjev

OTP bank Srbija
Director of PMO and Efficiency Directorate

“MINDSPIRE is unlike any other consulting groups I have worked with. Their experts are highly competent, knowledgeable and trustworthy. Through utilization of MINDSPIRE services, we much improved our own project management practices. Latest engagement was participation in PMO of the Strategic Improvement Program of OBSr which helped place the Bank on the right track in achieving its Strategic Goals. I highly recommend booking their best experts before any of our competitors do!”

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