BUPA - Building Hungary’s leading SME platform Qorus-Infosys Finacle Banking Innovation Awards 2024

Imagine a digital platform where anyone can establish their dream business, and where SMEs can find solutions for all their needs, from invoicing and accounting to even financing tools like EU loans or BNPL services.

Good news, this platform exists!

Introducing BUPA—a digital, beyond banking marketplace and community designed to support micro and small business owners in starting, operating, and expanding their businesses. BUPA provides access to all essential services throughout the entire business lifecycle, from entrepreneurship to daily operations.

Uniquely positioned in the Hungarian market, BUPA integrates clients, market service providers, and banking entities into a single, innovative platform.

The market relevance of this solution is significant: currently, 10% of MBH Bank's (BUPA's parent company) SME clients use BUPA's services, and this number is steadily growing.

One of our strategic goals is to become Hungary's leading SME beyond banking platform by 2027, with 200,000 registered users, including 60,000 active users who regularly utilize features available on BUPA platform.

To achieve this, we are not only dynamically expanding our range of services and the community of users but also plan to offer a value proposition that enhances our parent company's customer base. By ensuring that new businesses handle all their invoicing and banking with us, we multiply market returns.

Consequently, BUPA will function as the bank's main digital acquisition engine.

The platform's vision emerged from a customer need that the Hungarian banking industry has not yet addressed: providing solutions for the challenges faced by micro and small businesses in one place. Our research into the SME sector clearly shows that new (and prospective) entrepreneurs have numerous doubts and questions. While professional forums, chambers of commerce, and trade unions strive to provide answers, there has yet to be a truly breakthrough solution that professionally and holistically supports the initiation, operation, and development of businesses.

A dedicated UX research team, behavior scientists, and agile operation colleagues are responsible for the technological support, ensuring continuous development. By innovatively blending startup culture with a technological environment, our organization operates independently from the parent company but works closely with it, enabling joint business development. This not only ensures product stability but also introduces a new and modern banking and financial culture in our country (platform thinking).

We are proud to say that the innovation BUPA brings to the Hungarian market is already substantial.