Apps Run The World

MKB Bank Digital Transformation Initiatives

Apps Run The World

About the Customer

MKB Bank is a leading digital bank in Hungary, which has put open banking as one of the pillars of its strategy and believes in partnering with its customers, corporate and private banking clients, as well as the Fintech world through innovations such as its new core system and IT architecture, an innovative MKB Fintechlab ecosystem it has built, as well as its network. The bank is considering an IPO in 2019.

Scope and Challenges

The bank decided on the switch in February 2016. It had been using Globus, a precursor to Temenos’ T24 platform, since 2004. Instead of choosing an upgrade from its incumbent supplier, though, it opted for Oracle and its Flexcube system. “An upgrade would have been more difficult than a new system implementation,” -said Mark Hetenyi, Chief of Digital, Retail and Strategy at MKB Bank.

“We started with bad economics and a very bad system.” End of day processes were “a disaster”, the system had a “highly fragmented IT architecture” and “high licence fees and maintenance costs.”  – continue Mark Hetenyi, Chief of Digital, Retail and Strategy at MKB Bank

Outcome and Implications

MKB was intent on fast-tracking its technology program. Despite having comparatively fewer resources than major global banks operating in Hungary, MKB achieved its digital transformation in just two and a half years. The average deployment for projects of this scope typically takes between four and five years.

Using Oracle Flexcube's universal banking system, MKB Bank improves the efficiency of banking workflow while reducing its operational risks, also account opening times will be reduced alongside loan and mortgage acceptance. The bank also plans to use Flexcube as a base for a digital revamp.


“It is not every day that a historically conservative medium-sized player commits its resources to modernize its systems, changing its culture and taking a leap towards digitalization.” -said Ádám Balog, Chief Executive Officer at MKB

“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,” -said Mark Hetényi, Chief Digital, Retail and Strategy officer at MKB. “This starts with a robust digital offering. We replaced our core banking platform with Oracle FLEXCUBE because it supports fully digital customer experiences.”

“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,” -said Sonny Singh, Senior Vice President and General Manager at Oracle Financial Services.

1056 Budapest, Váci u.38.
Budapest, H-1821 , x
36 1 373 3333
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Enterprise Software & Cloud Applications Purchased by MKB Bank

Vendor Old Product New Product Function Market Users VAR/SI When Live
Oracle Legacy Applications Oracle Flexcube Core Banking Solutions TRM n/a n/a 2017 2018

IT Decision Makers and Key Stakeholders at MKB Bank

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