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THE BIG INTERVIEW Dealing with data
Balazs Gati, Head of Server and Storage, K&H Bank, tells IBS Journal about the Hungarian FI’s approach to Big Data
Interview by Scott Thompson
“THE FS SECTOR IS UNDERGOING HUGE DISRUPTION. OF COURSE NEW TECHNOLOGY IS ALWAYS EXCITING, BUT WITH ANY NEW TECHNOLOGY THERE COMES NEW CHALLENGES”
I BS Journal: Tell us about KBC.
Balazs Gati: KBC is an integrated bank-insurance group, catering to retail, private banking, SME and midcap clients. The group has organisations in Belgium, the Czech Republic, Slovakia, Hungary, Bulgaria and Ireland. Part of KBC, K&H Bank is one of the largest commercial banks in Hungary, with more than 200 branches nationwide, 1.6 million clients and a EUR 4.5 billion loan portfolio. As well as conventional retail and corporate banking products, it provides premium banking services, investment fund management, leasing, life insurance, property and liability insurance and securities trading.
IBS Journal: What were the main challenges that lead you to work with Hitachi Data Systems?
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BG: Let’s first start with the opportunity. The FS sector is undergoing huge disruption. We’ve seen the rise of Big Data, peer-to-peer lending, Bitcoin and blockchain, automated trading, faster payments, robo-advisors, digitalisation, IoT, in the last few years. Of course new technology is always exciting, but with any new technology there comes new challenges. Security and data integrity are critical to the global financial sector, and that applies at KBC as well.
In terms of challenges, the first is the increased possibility of cybercrime. Financial services businesses are consistently targeted by highly sophisticated cyber criminals and the resulting reputational and financial damage can be irreparable; just think of the collapse of Bitcoin business MtGox, the disruption at Bitstamp, and the hacks on Tesco Bank and Russia Central Bank last year.
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