OTP Bank Moldova Leads with Innovative Mobile-First Authentication

OTP Bank's logo and a mobile phone with OTP banking app on the screen, blue background.

Wultra has helped one of Moldova’s leading banks achieve PSD2 compliance through delivering a modern mobile authentication solution.

OTP Bank, a member of the OTP Group, is a distinguished Moldovan bank that has a nationally recognized brand. Over the years, OTP Bank has consistently earned the trust of customers and partners alike by putting an emphasis on mutually beneficial relationships. Today, OTP Bank aims to be a vital advisor to its clients as well as a responsible financial services provider.

Shaping the Future of Moldova’s Banking Landscape

PSD2 compliance in the Moldovan banking sector is now more crucial than ever before.

As part of its commitment to comply with PSD2 requirements, Moldova's banking sector is currently undergoing a significant legislative overhaul. This strategic move involves a diligent adjustment of payment services and electronic money regulations that is carried out in three distinct stages:

  • Phase 1: In August 2022, the first phase focused on the enforcement of rules for the prudential supervision of non-bank payment service providers (PSPs) and outlined specific responsibilities for the National Bank of Moldova.

  • Phase 2: Moving into August 2023, the second phase rolled out additional regulations that were geared towards adapting existing processes to meet PSD2 requirements.

  • Phase 3: Looking ahead to the final phase, which is planned for August 2024, Moldova aims to implement rules pertaining to new PSD2-related requirements, encompassing aspects such as Strong Customer Authentication (SCA), open banking, and the introduction of various innovative services.

This legislative evolution underscores Moldova's proactive efforts to align its banking landscape with contemporary regulatory requirements.

Wultra’s Solution: PSD2-Compliant and User-Friendly Authentication

September 2023 marked the launch of OTP Bank’s revamped mobile banking app. When upgrading the app, OTP Bank sought a PSD2-compliant authentication solution using a mobile token. Wultra delivered just that: To meet the bank’s needs, we embedded our Mobile-First Authentication SDK into its app.

One of OTP Bank’s top priorities has been to achieve PSD2 compliance. Through its powerful authentication solution, Wultra equipped our mobile banking application with the right technology in order to make PSD2 compliance a reality. With our digital transformation well underway and expert partners like Wultra, the future of Moldova’s banking industry looks bright.

Irina Pohilă

Head of Digital Channels & Digital Product Owner, OTP Bank

With Wultra’s solution in place, the app’s authentication and operation authorization processes have become more streamlined and secure. Using SCA-compliant technology for operation approvals, our solution makes it possible for users to use a secure PIN code or biometrics for secure access to the application.

After providing consultations for implementing our SDK, the integration was carried out by our long-time solution partner, GETIK. The revamped version of the app reflects OTP Bank’s commitment to digital transformation while also providing an elevated, simplified user experience. 

We’re proud of everything that we’ve achieved with OTP Bank to date. With Moldova’s digital transformation well underway and our modern, PSD2-compliant authentication solution in place, we see a bright future for Moldova’s banking landscape. 




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Consider partnering with Wultra to meet compliance standards, deliver a secure and seamless user experience, and deliver additional value to your customers while improving your bottom line.

Ondřej kupka
Picture of Account Executive Ondrej Kupka
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