Central financial institution says initiative goals to cut back administrative burden for companies and customers
Central Financial institution of Hungary
The Central Financial institution of Hungary (MNB) on March 3 launched a database for mortgages and residential insurance coverage that leverages distributed ledger expertise.
In an announcement, the MNB stated the expertise would make it simpler to cross-reference properties used as collateral for mortgages and the insurance coverage bought on them.
The MNB expects eight lending establishments and 11 insurers – “overlaying nearly all of the mortgage collateral property insurance coverage market” – to be onboarded into the system through the first half
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