The Budapest Institute of Banking (BIB) entered into an agreement with the leading FinTech training centre in Europe in the middle of June. The agreement between the BIB and the London-based Centre for Finance Technology and Entrepreneurship (CFTE) aims to enable the institutions to offer the most advanced FinTech training programmes in Hungary and Central and Eastern Europe in the future. The BIB will become CFTE’s partner in the region. In addition, the two institutions also plan to pursue joint training development activities.
Upon the announcement of the agreement in London, representatives noted that FinTech solutions are likely to bring about significant changes by exploiting technological innovations, and as a result, financial processes will become faster and more transparent. This is an expectation customers have today. Therefore, if capable of change, participants in the financial sector are likely to profit greatly from innovations. They pointed out that due to growing competition, technological innovations fundamentally change credit institution and insurance company models. Upgrading the digitalisation of processes, the online administration and sales channels contribute greatly to more efficient operation, and the enhancement of customer experience.