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OTP Bank
Optimizing Digital Services for A Seamless Customer Journey
Constantin Mareș was appointed Deputy General Manager in November 2021 within OTP Bank Romania, where he oversees the newly established Digital Division, created as part of the bank's local development strategy.
His management objectives in leading the Digital Division encompass driving performance, fostering an internal innovative environment, while creating an optimal work environment for professional development, and positioning OTP Bank Romania among the elite of the most sought-after employers in the country.
Constantin Mareș boasts 26 years of experience in the banking system, with the past 20 years marked by holding top and senior management positions. Since 2015, he has been a champion of cultural change at OTP Bank Romania, a change that has encompassed both digital transformation and the shift towards an agile, collaborative, and modern work culture. He holds direct responsibility for the success of the organic growth program (Apollo), which places emphasis on enhancing customer experience, process efficiency, and the development of key portfolio products.
He embarked on his career at Bancorex in the Capital Markets department. He then moved to ING, where he spent 9 years leading the IT department and contributing to the launch of technology-exclusive retail services. In 2006, he joined the team that prepared the launch of Millennium Bank in Romania. Six years after his arrival at Millennium Bank, he was promoted within the bank's leadership, initially coordinating the operational area and later assuming responsibility for the corporate client segment.
Could you provide an overview of your role and responsibilities within the company?
Working in the banking industry as the Chief Digital Officer (CDO) and a board member of OTP Bank Romania, my responsibilities involve optimizing digital sales, leading the phone advisory services, and driving technological innovation. In my role, I aim to optimize digital services and ensure a seamless customer journey by leveraging insights from data analytics and collaborating with cross-functional teams.
This means we are constantly on the lookout for innovative advancements and developments, and we use them to make sure that our business remains agile and forward-thinking. At the same time, my team’s work is about bridging the gap between technology and human interaction.
What are some of the key challenges you face?
Working in the Romanian market, a dynamic emerging economy with a thriving IT sector, one of the biggest challenges we face is the scarcity of human capital. As technology continues to advance, the demand for skilled professionals in the data analytics and artificial intelligence has surged, and so has the competition for talent with big tech companies. This makes it important for us to remain a trusted and desired employer that can attract and retain top-tier talent.
The transformation of the banking industry adds another layer of complexity. With the rise of Banking as a Service (BaaS), open banking, and fintechs that encourage the integration of third-party services in banking activities, traditional financial institutions have to adapt, collaborate and introduce new services.
Additionally, the growing interest of big tech companies, such as Apple, Google, and Amazon, in diversifying into financial services that go further than payments introduce a new shift in the industry. This intensifies the need to establish strategic partnerships and develop relevant services.
What would you say are some of the futuristic trends that will have an impact in the next 18-24 months?
One of the most prominent trend is the rapid expansion of artificial intelligence (AI) across industries. A technological revolution similar with the invention of Internet and mobile devices, AI holds a huge transformative potential. Transformative power of AI lies in its ability to augment human abilities to make decisions and perform tasks, enabling significant improvements in efficiency, productivity, and problem-solving across various industries and domains.
The transformative power of AI is still evolving, and its impact will continue to grow as the technology matures and becomes more integrated into various aspects of our lives.
The ability to learn quickly, embrace change, and remain flexible and agile in the face of evolving technologies and market dynamics is crucial
What advice would you give to young professionals who are interested in pursuing a similar career, and what qualities do you think are essential for success in this field?
For young professionals aspiring to a similar career, I would emphasize the importance of adaptability and a continuous learning mindset in navigating the volatile, uncertain, complex, and ambiguous (VUCA) environment we operate in. The ability to learn quickly, embrace change, and remain flexible and agile in the face of evolving technologies and market dynamics is crucial. Moreover, don't be intimidated by working with more experienced people. While experience brings valuable insights, it can be a limitation. Fresh perspectives and innovative ideas are equally valuable, so approach challenges with confidence and a willingness to change the status.
I also believe being a proactive problem-solver is important in this field, striving to identify incoming challenges and actively participating in finding solutions. This approach not only demonstrates your value but also fosters a collaborative and productive work environment.
Lastly, communication skills matter since you have to be able to convey complex technological concepts to non-technical stakeholders. By cultivating these qualities, young professionals should thrive in the dynamic and transformative landscape of a technology-driven career.
