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MNB’s staff introduce artificial intelligence into money matters

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5 February 2020

First in the field in Hungary, nearly 100 of the Magyar Nemzeti Bank’s staff completed ‘Entrepreneurship (CFTE) Artificial Intelligence in Financial Matters’, an e-learning course of the London-based Centre for Finance Technology held in cooperation with the Budapest Institute of Banking (BIB Zrt.). Through lectures given by the world’s leading professionals, the course is designed to facilitate a better understanding of the way artificial intelligence is transforming the financial sector while providing profound knowledge of technology and its applicability. It therefore helps staff members in the financial sector gain the knowledge necessary to become part of the artificial intelligence revolution, which in turn is required for digital transition and a competitive banking system at both structural and systemic level.  

Having successfully completed the online course, students were handed their certificates in the Magyar Nemzeti Bank on 5 February 2020. Gergely Fábián, Chief Executive Officer of BIB, said at the ceremony: ‘The Magyar Nemzeti Bank was one of the first central banks in the world where such a large group of colleagues completed the course on artificial intelligence. This reflects that the MNB does not only talk about digitalisation and the importance of related studies, but it also sets an example.’ In his speech, Huy Nguyen Trieu, co-founder and director of CFTE, underlined: ‘Artificial Intelligence is the single most important technology in finance today, and human capital will be the single most important driver of it. I am very impressed by the leadership of BIB and the Central Bank to lead finance professionals on this journey for a positive impact on the Hungarian financial industry.’

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