Hungary Unveils New Strategy For Lacklustre Fintech Sector

Hungarian regulators have proposed initiatives aimed at boosting financial innovation in a market still dominated by cash, including speedier licensing, digital ID requirements and industry-wide technology standards.

Magyar Nemzeti Bank (MNB), the country’s central bank and payments regulator, unveiled a new-look fintech strategy this month setting out a range of policy actions and legislative reforms that could be taken to boost digitalisation in the financial sector.

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