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.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

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.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

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.”