Digitalization has become second nature to many banks around the world, but not all. In the Central European country of Hungary, many banks—and their customers, who are relatively uninformed of the ways going digital can enhance their personal financial management—are in the early stages of the digital banking voyage. The time has arrived for Hungarian banks to jump into the present, or remain behind in the past.

Credit cards have become an essential staple of the financial world within the past century, so a world without them seems inconceivable today. But the marriage of Open Banking with Instant Payments is making that reality look more plausible, and in the not-too-distant future. How can banks not simply survive but excel in the new post-card world, in which the payments process moves in-house, providing a wealth of data?

Lately, there seems to be a frenzy well fed by consulting firms in the enterprise world about digitisation and the necessity to “digitise” companies’ business models and operations.

As the landscape of financial services continues to change, it’s critical to stay ahead of the game. ATMs were groundbreaking achievements once upon a time, while more recently, mobile baking was the logical next step in banking’s maturation.