From retail to
corporate banking, from loans to deposits, our consultants have
in-depth knowledge of core banking systems and related operations.
With centuries of overall experience with core banking
systems and operations, Advocate consultants have in-depth
knowledge of several Core Banking Systems, e.g. Finastra
Bankfusion Equation, Bankfusion MIDAS, Oracle Flexcube, Symbols.
The level of integration of a Core Banking System differs
from bank to bank, sometimes the as-is provided functionality is
enough, but sometimes additional developments, integrated
satellite systems are developed in order to be able to provide
more nuanced services or operations.
Advocate Organization Development
has a leading role in supporting Hungarian Financial Institutions
in Core Banking development and related services. Our professional
consultants use their expertise and experience in different
business and development activities that are related to the
following fields and activities:
Business workflow and
process optimization: evaluate and review business processes,
identify bottlenecks and future-oriented solutions to existing
problems.
Support and lead product
development and supervise sales channels: design and introduce
new solutions: instant payments, SEPA-integration, e.g.
Core Banking System
upgrades: consulting and development services for mission
critical Core Banking System upgrade projects.
IT Consulting, Business Analysis, Test
Management
We were helping
our partners in different projects, ranging from implementation
of customer access management systems, integration to limit
management, to loan origination and deposit product systems.
Our professional consultants use their expertise and
experience in different business and development activities that
are related to:
Providing end-user support
and consulting services for well-known systems and processes
provided by: Finastra Bankfusion Equation, Bankfusion MIDAS,
Oracle Flexcube, Symbols, etc.
Providing IT Business
Analysis, Development and Testing services: IT consulting
services for integrated satellite systems, middleware and
distributed interfaces/applications.
Latest Core Banking Projects
Featured
Case Study
Loan Repayment Moratorium
projects
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. Advocate consultants are
participating in projects at nearly all Hungarian banks, being
responsible for both the project management, business and
technical analysis and Core Banking development tasks.
Bankfusion Equation upgrade
projects
Our consultants were key participants in several Equation
upgrade projects in many of the CEE region's market-leading
Financial Institutions. Finastra (formerly known as Misys)
Equation is one of the most resilient and popular core banking
systems available in many enterprise-grade platforms, from
mainframes to mid-frames as well, being well-known for its
flexible APIs and built-in functions that makes very easy to
integrate it with may smaller satellite systems that are
responsible for the tailor-made processes not supported by the
Core Banking System.
Because of the above mentioned, most of our clients had a
diverse and populous set of satellite systems that were needed to
be tested to be sure they are compatible with the new versions.
Therefore, these projects' scope was not just only the upgrade to
the new Equation version but making sure and client will be able
to run its day-to-day operations with the currently available
software repository - for many of our clients it meant a huge
challenge, but Advocate consultants are known throughout the CEE
region as professional Equation and Core Banking consultants, the
end results were more than satisfactory- all upgrade projects
lead by our project managers ended perfectly on-time and
on-budget.
Automatic loan eligibility
calculator
A new generation of tech-savvy customers are more engaged
with mobile-based digital solutions which mandates Financial
Institutions to put a stronger focus on overall e-channel
developments. One of the most popular features of the new mobile
banking applications are the self-service automatic loan
eligibility calculator with automatic disbursement, but
implementing these features require careful planning and cutting
edge back-end solutions. Advocate Consultants with many years of
experience in Core Banking and Digital Channels helped many
Hungarian Financial Institutions to design and introduce the
right solution which is able to calculate loan eligibility based
on the Bank's scoring model while being compliant with regulatory
restrictions regarding customer loans, and takes care of the
automatic disbursement of the uncollateralized loan.
During these projects, our consultants were able to gather
and analyze the requirements, assess the already available
architecture and software elements and conducted an RFI for
choosing the right vendor with the right solution. After the RFI,
our consultants were actively working with the vendor during the
integration development and testing phases which resulted in a
seamless roll-out with several dozens of disbursed loans in even
in the first week after the transition into production
environment.
Outstanding debt collection
system
The Hungarian loan and bond market experienced a major
growth in the past five years which resulted in record-high
outstanding loan amounts both in the Corporate and in the
Household sector, which makes it necessary for every Financial
Institution in Hungary to have a reliable Outstanding Debt
Management System and the corresponding business processes
available.
Introducing a new Debt Management System is a rather big
challenge, because debt management is highly sensitive to the
available underlying data, several soft data (e.g. demographics
and social environment) is needed for building an effective early
warning system. Because of the data-sensivity, introduction of a
debt-management system mostly relies in Datawarehouse / Business
Intelligence teams where sometimes the required specialized
knowledge is missing regarding loans and debt management, this is
way many of our clients chose Advocate consultants who have
multiple years of experience in Business Intelligence and in
Retail/Corporate Lending. Our consultants provided the necessary
plus knowledge that made sure all the necessary data became
available, all the necessary business processes were designed and
all the staff received thorough training for working with the new
software.
New Collateral Management System
An expanding Retail and Corporate loan market couldn't
operate prudently without putting a strong emphasis on collateral
management and valuation - this is a fact the Financial
Institutions had the learn on their own during the Great
Recession of '08. In the past few years the Hungarian loan market
has nearly doubled in size having an outstanding amount of debt
greater than in the times of the ill-fated Swiss Franc loans.
Fortunately, because of the Hungarian National Bank's regulations
the biggest part of the loans (housing loans) were secured in a
prudent manner based on the maximum Loan-To-Value ratio of 80%.
However, the obliged LTV ration could easily move above the
treshold in case of a housing market turmoil, therefore it is
extremely crucial to have a proper collateral management system
responsible for maintaining the valuation information, provide
early warnings and be able to support the soft collection
procedures.
Advocate consultants were participating in a project with
the scope of the introduction of a new Collateral Management
System which would replace the old, hard-to-develop legacy
solution. Our consultants were gathering then analyzing the
business requirements, designed a new Collateral Management
System from scratch, designed the developed the integration layer
with the Datawarehouse and participated in an intensive testing
phase.
