No improvement without digitalization - Part Four

2018.08.23. 08:00 | Hírek

A cikk magyar verziója itt olvasható.

This is the fourth part of the article. Previous part

There are many publications nowadays about the need to change to digitalization. But how does it change financial administration and how prepared are the Hungarian banks and society for such changes? We investigated this question with Bancard Ltd. experts.

We cannot complain about Internet banking, although it is a basic service nowadays. The services, however, offered by Internet banking differ between banks.

The clients of the National Paying Service, that started in 2012, cannot be satisfied with its services. As the service provider here is not a bank, it does not collect deposits or offer loans, its online service only enables following balances, history, statements and transfers. There is no option for credit card transactions (except for canceling), setting text messages or modifying data.

Most people don’t know that text messaging on transactions is a Hungarian invention, that first appeared in October 1998 at Budapest Bank. There is no lack in text message services and a new option called iSMS is gaining popularity. This free message appears as a pop-up notification through the Internet bank application of the card holder’s mobile phone. Text message is sent only if online message receipt fails.

Although there are only a few banks that have a mobile application, the biggest ones got this service covered. Thus, banks such as Budapest Bank, CIB Bank, Erste Bank, GRÁNIT Bank, K&H Bank, MagNet Bank, MKB Bank, Oberbank, OTP Bank, Raiffeisen Bank, Sberbank, Takarékbank and UniCredit Bank have a mobile application. Among these, Sberbank is the only one lacking a wider range of opportunities, although, they obviously made some effort to offer more information on their mobile app, as they show exchange rates, nearby ATMs and news.

Five out of the above-mentioned applications enables payment via NFC too (Budapest Bank, GRÁNIT Bank, K&H Bank, MKB Bank, OTP Simple.) All of these are modern solutions with tokens independent of SIM cards, so there is no need to ask for an NFC-enabled SIM cards anymore, which used to be a significant barrier in the beginning.

There is an option for opening an account online at GRÁNIT Bank, MKB Bank, OTP Bank and Takarékbank. Though this option is available at almost every bank, these four uses full client authentication supported by the regulatory environment entered into force at 20th July, 2017. Thus, the client’s presence at the bank is not required for opening the account, which is completed online and result in a fully and immediately (or in a few hours’ time) usable account.

Videobank service, which is also inevitable for this, is also available at these four banks, from which GRÁNIT Bank has provided this service for a very long time. Through the videobank clients can show their credentials and provide their signature. Since the functions of videobanks are replaceable by helpdesk phone support, improvement of videobank services is expected along with the spread of opening accounts online.

Here we’ve got to the end of our four-part article series written with the help of Bancard experts. We are looking forward to your feedbacks on the article series at the following page: http://www.bankkartya.hu/kapcsolat

Thank you for your attention!

(End of article)