Press Release, 4 August 2015

Backbase-powered Touch Bank goes live in Russia

Backbase, the omni-channel digital banking specialist, and Touch Bank, the neobank founded by OTP Bank, announce that they have successfully launched the new digital-only bank in Russia.

Founded in 1949, OTP Bank is one of the largest independent financial service providers in Central and Eastern Europe, serving 9 countries. Recognizing that today’s digital-savvy customers and emerging digital natives are going to be the fastest growing customer segment, OTP Bank decided to launch a new, digital- and mobile-only bank under the label Touch Bank.

Touch Bank offers a full range of banking services and is mostly targeting young professionals in Russia. It is planning to expand internationally.

“It’s time for banks to transform,” said Andrei Kozliar, CEO of Touch Bank. “Banks have to work simpler, faster, and smarter to keep up in today’s digital world. We want to create a bank that delivers ease of access via internet or mobile, and gives you full control over your finances with just one touch. That is Touch Bank. And in Backbase, we found the ideal partner to make our new banking vision reality.”

“OTP Bank is one of Central and Eastern Europe’s fastest growing banks and I’m delighted to be able to work with them as they create a completely new digital-only bank,” said Jouk Pleiter, CEO and co-founder of Backbase. “We believe in creating customer-centric, omni-channel experiences that deliver a seamless customer journey across all digital touchpoints and devices, and OTP with Touch Bank very much shares this vision.”

About Touch Bank

Touch Bank is an online retail bank, an international project of OTP Group, a European financial group and one of the banking market leaders in Central and Eastern Europe, which started servicing Russian clients in spring 2015. Touch Bank does not have offline branches. The main platform for interaction between the Bank and its client is the internet and other interactive communication channels that enable execution of all types of operations around-the-clock, 24/7 with no queues, at any place and at any time. Financial services provided by Touch Bank represent monoline bank card-based products. These include deposits, loans, convenient top-ups, transfers, payments, and other options driving efficient personal finance management in real-time. For more information see: https://www.touchbank.com/