Due to the severe economic effects of coronavirus pandemic, the Hungarian National Bank issued the Hungarian financial institutions to introduce a loan repayment moratorium mechanism for all debtors (corporate and retail) which allowed the delay of the instalments. The loan repayment is aimed at helping to resolve the temporary difficulties of debtors, preventing the possible build-up of a liquidity crisis.
The postponement of the instalments does have an effect on the operation of the banking sector, requiring several changes and new IT developments. As Advocate Business Consulting is one of the leading provider of IT Consulting Services for the Financials Industries in Hungary, our consultants are participating in several projects that are responsible for the following tasks:
With our consultants’ expertise in Core Banking Development (including retail and corporate lending) and in Business Intelligence, our clients will able to handle all the requirements issued by the Hungarian National Bank in order to effortlessly operate with the loan repayment moratorium mechanism.