Open Banking in Hungary

What is the current status of Open Banking in Hungary?

Here’s a quote from the Magyar Nemzeti Bank (MNB) in their 2021 Payment System Report:

So far, the great innovation of the PSD2, open banking, has been able to spread in Hungary only to a limited degree as the international regulation is not specific enough in terms of the application programming interfaces to be implemented, on the one hand, and banks may hinder new actors in various ways, on the other hand.” 

Interesting stats about OB potential in Hungary

What will the future of Open Banking look like in Hungary?

Hungary, like many other European countries, needs to go through an adjustment period for the implementation of Open Banking initiatives. The country is simply going through the customary hurdles of understanding and implementing a new breed of technology.


 


Banks

Here is a list of major banks providing Open Banking in Hungary