K&H Bank: the use of mobile banking is growing dynamically

By: Trademagazin Date: 2023. 07. 13. 11:00

The use of mobile banking at K&H Bank is growing dynamically, 560,000 people already use the service, and their number has doubled since 2020 – explained Balázs Németh, head of innovation at K&H, at a press conference in Budapest on Thursday.

According to their calculations, the number of mobile bank users will continue to increase in the near future, as will the rate of daily use. In response to growing needs, K&H Bank is renewing its mobile banking application, which will be expanded with new functions, it announced. He added: the IT system operating the application will be fundamentally renewed. In response to a question, he indicated: the necessary investment required an expenditure of several billions, a significant part of which was covered by the bank’s innovation framework.

Balázs Németh emphasized: the world-class technology and IT background will enable more and more complex services to be added to the mobile bank in the future. He called it unique that K&H bank cards can be digitized into the electronic wallets of all five global financial service providers.

According to him, customers who have been using mobile banking until now have nothing to do, the application will be updated automatically. Zsolt Vadócz, head of digitization at K&H, explained at the press conference: the application used until now was introduced in 2013, it was expanded with instant transfers, or various loans, investment services, and insurances. The previous application had sixty different functions, the functions of the new app introduced in mid-July will be significantly expanded in 3-4 years.