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 internal and customer-facing operations and provide customers with more personalized services across multiple channels.
MKB reported its aim is to reduce its go-to-market time for new services such as corporate and retail lending, as well as digital-only services, and to manage customer requests more quickly and easily. While sharing details about the implementation, Ádám Balog, CEO of MKB, stated:
“It is not every day that a historically conservative medium-sized player commits its resources to modernizing its systems, changing its culture and taking a leap towards digitalization. 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.”
Mark Hetenyi, Chief Digital, Retail and Strategy Officer of MKB, also commented:
“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.”
Sonny Singh, Senior Vice President and General Manager of Oracle Financial Services, then added:
“MKB recognized that digital services are a key differentiator. As a bank with its eyes firmly planted on the future of customer service, MKB’s bullish implementation of our flexible Oracle FLEXCUBE technology has put it in a position to pull ahead in a competitive Hungarian market.”