As central banks are easing newly introduced quantitative tightening policies around the world, the Hungarian Central Bank decided that interest rate cuts could be implemented as well. As the government aimed to return to the previously utilized high pressure economy, many new state-subsidized loan products were introduced parallel with the rate cuts. After months of continuous and consistent rate cuts with the help of the subsidized loans, the Hungarian Loan Market started to show revitalizing signs in forms of dynamically increasing volumes of disbursed loans.
Balancing between the sales-oriented growth and the risk-aversion mindset, the Hungarian Financial Institutions were reacting almost universally the same to the new challenges of the current environment:
The market conditions and the volume of customer demand posed great challenges that needed to be taken care of. Being one of the top IT consulting firms, Advocate Business Consulting’s experts were already working with several Financial Institutions and were able to help our clients in a wide range of related projects:
Advocate experts were contributing to these projects in many different roles, starting from requirements analysis, to custom application development through project management - a range of roles and expertise that is highly regarded in the Hungarian Financial Institutions sector. All of our projects ended successfully, with full satisfaction from our clients' end with the end results that helped to both manage risks and grow sales volumes in a resurrecting loan market.