Average level of digitalization in finance still 'medium'
Shutterstock.com
In addition to further developments at credit institutions at the forefront of digitalization, less well-performing banks also managed to catch up in 2021, but the average level of digitalization in the finance sector is still medium, the National Bank of Hungary (MNB) said in a report published on its website this week.
Digitalization efforts are most advanced regarding the preparedness of bank management and employees, reflecting that digitalization is becoming ever more critical for the culture of companies.
For banking products, client and partner relations digitalization showed a wider spread, even after strong recent progress, and the digitalization of internal banking processes improved only marginally.
By last year, due to earlier efforts bearing fruit and changes from the coronavirus pandemic, it was possible to open current accounts online at all credit institutions involved in the MNB's data gathering.
More than 90% of banks also offered the chance to apply for personal loans. Savings accounts could be opened online at more than 40% of banks, up from less than 20% in 2020.
Erste Bank Hungary Q1 Earnings Close to HUF 29 bln
Hungary Welcomes Extension of China's Visa Exemption Policy
Living's Kassák Terrace and Park West 3 Classified as Brownf...
Aldi Opening Biggest Store in Budapest
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
