Tagged: hungary

Hungary’s Reserve Bank Says Fintech Adoption Is Relatively Slow, as Most Consumers Still Using Cash

Magyar Nemzeti Bank (MNB), the reserve bank of Hungary, has released its very first Fintech and Digitalization Report, which looks into the state of financial technology adoption and the level of digitalization across the nation’s banking ecosystem. The report revealed that there are at least… Read More

Hungary: Online Invoice Firm Billingo Partners with Open Banking Provider Salt Edge

Billingo, a billing platform operating in Hungary, has partnered with Salt Edge a firm developing Open Banking solutions. The combination of the two services have created the first online biller in the country to offer a range of opportunities fuelled by bank data aggregation, according… Read More

Hungary’s Central Bank Issues Warning stating that Traditional Lenders Might Be Forced Out of Market Due to Competitive Fintech Firms

Some of Hungary’s financial institutions might be forced to exit the market as they may not be adequately prepared to continue to compete with challengers from the Fintech industry. Traditional institutions are also facing increasing pressure due to declining revenues from a consistently low-yield environment,… Read More

Hungary Is “Behind Everyone” When It Comes to Adopting Latest Digital Banking Technology, Says Senior Law Firm Executive

A senior executive at CMS, a law firm working with the National Bank of Hungary (MNB) on its Fintech strategy, says Hungary is “behind everyone” when it comes to adopting the latest digital banking technology. The CMS executive stated: “Hungarians do not use sophisticated Fintech… Read More

Hungarian Commercial Bank MKB Bank Goes Fully Digital With Oracle FLEXCUBE Implementation

On Tuesday, Hungarian commercial bank MKB Bank announced implemented Oracle FLEXCUBE to become fully digital. According to MKB Bank, the core banking solution has been adopted by more than 600 financial institutions around the world, as part of a broader restructuring project to streamline its… Read More

WorldRemit Adds Hungary to List of Countries Users May Transfer Money

Mobile first digital money transfer service WorldRemit has launched instant money transfers to Hungary. The new service lets anyone in over 50 countries send remittances directly to bank accounts in Hungary in a safe, quick and convenient way, using the WorldRemit app or website. WorldRemit’s digital model allows migrants… Read More

Want 5% of MySecureZone Encryption Company? Just Hack the Company’s System

Crowdfunding on Indiegogo, Hungarian company MySecureZone is launching a hacker challenge in conjunction with their fundraising campaign.  The company is inviting people to hack their system to read an encrypted email.  If successful the grand prize is 5% of their startup company. MySecureZone has created… Read More

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