Hungary’s MKB bank takes digital leap with Oracle FSS’ Flexcube
Hungarian bank MKB has completed the transformation of its entire technology system, including a full replacement of its core banking system, the retirement and consolidation of roughly ten additional systems, and the modernisation of its entire IT architecture.
MKB is the fourth biggest commercial bank in Hungary, and claims to be the first one in the country completing a transformation oriented towards open banking.
MKB implemented Oracle Flexcube, with the aim to streamline operations and increase personalisation for customers across channels, and to manage customer requests “more quickly and easily”.
The bank signed for Flexcube in 2015, to replace Temenos’ T24 platform that had been running at MKB for nearly a decade.
“It is not every day that a historically conservative medium-sized player commits its resources to modernising its systems, changing its culture and taking a leap towards digitalisation,” says Ádám Balog, CEO, MKB.
Mark Hetenyi, chief digital, retail and strategy officer, MKB, believes a robust and complete digital offering encourages customers to interact with banking services.
MKB was intent on fast-tracking its technology programme. Although comparatively it has “limited resources”, MKB completed the transformation in two and a half years.