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July 18, 2018

Hungary’s MKB Bank migrate to Oracle Flexcube core banking system

Hungary-based MKB Bank has transformed its entire technology system by migrating to the Oracle Flexcube core banking system.

As part of a broader restructuring project, the bank replaced its legacy core banking system, changed and combined nearly 10 additional systems and overhauled its entire IT architecture completely.

The deployment will modernise the bank’s internal and customer-facing operations and provide customers with more customised services, the technology vendor said.

The complete technical modification is also expected to slash go-to-market time for new services such as corporate and retail lending, as well as digital only services.

MKB Bank CEO Ádám Balog said: “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.

“It is through the reliability of partners like Oracle and the management of our stakeholders that we were able to make this move in such short a time.”

MKB chief digital, retail and strategy officer Mark Hetényi said: “Banks still have some catching up to do when it comes to serving customers. It’s time to stop resisting change and develop a model based on the way people want to interact with banking services.

“This starts with a robust digital offering. We replaced our core banking platform with Oracle FLEXCUBE because it supports fully digital customer experiences.”

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