KBC sets two-year timeframe for core replacement strategy in Central Europe

Source: Deloitte

KBC, one of the largest bank-insurers in Europe, implements an upgrade of the core banking systems in Slovakia and Hungary.

KBC group invests in digital transformation in Central Europe
KBC group chooses Deloitte as System Integrator for their T24 core banking system implementation at the Slovak CSOB and the Hungarian K&H banks

Warsaw, 2 April 2019 - This is a key element of the 5-year digital strategy adopted by the bank's leadership. On the operational side, the team of experts from Deloitte’s Temenos Center of Excellence together with local teams will be responsible for the end-to-end system integration. An agreement, concluded by KBC and Deloitte, was signed in the last days of March.

KBC Group is an integrated bank-insurance group primarily serving retail, private banking, SME and midcap clients. The group serves over 11 million customers and employs 42,000 people in its strategic markets, which include Belgium, Czech Republic, Slovakia, Hungary, Bulgaria and Ireland. The wide range of Deloitte’s capabilities allows the team to execute complex and multilevel end-to-end projects. Deloitte is an official partner of Temenos and has a distinctive record of T24 implementations around the globe.

- To enable future business transformation and keep compliance with all regulations, we are implementing T24 core banking system at both K&H and CSOB. This change goes along with our 5-year Digital Transformation plan, to assure that our clients get the best out of their banking experience. Deloitte’s team will lead this journey, having proven their professionalism whilst executing the analysis stage for this project for the past 6 months - says Willem Hueting, Senior General Manager International Markets, KBC.

The first phase of KBC’s Digital Transformation includes the core banking system replacement and will last two years. - One of the initiative’s key goals is full digitization of the CSOB, which will provide our clients with access to modern, innovative banking services enabled by digital technologies - says Daniel Kollar, CEO at CSOB.

The complex project aims to modernize the core of the bank’s business. - Big challenges lead to bigger improvements. Implementation of a modern, integrated, open-core banking platform like T24 will allow K&H to offer further innovative products and smooth, easy and convenient services to its customers with quickly changing needs on the Hungarian market. To implement Temenos T24 we rely on Deloitte and its Center of Excellence, whose team has strong core banking capabilities - points out David Moucheron, CEO at K&H

The banks recognize the need to change their current operating ecosystem in order to cope with demands of the market and customer base regarding increased commercial agility and a good go-to-market strategy. Thus, simplification and efficiency of operating models and optimization of digital channels is a must. - KBC is a leading financial services institution that prides itself with attentive customer focus. They aspire to be more than just a Bank or Insurance company by enabling and protecting their client’s dreams. This makes us even more honored to be entrusted as the system integrator for this endeavor. Now, Deloitte’s main focus is to deliver this deep-to-the-core transformation smoothly and with the smallest possible distortion to KBC’s clients - says Warren Hatton-Jones, Lead Engagement Partner, Deloitte.

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