Levente Sipos‑Tompa, Deputy Governor of Magyar Nemzeti Bank (MNB), presented the central supervisory plans at Portfolio’s Future of Finance 2026 conference on Wednesday. His talk outlined the bank’s current supervisory priorities and the practical expectations it places on financial institutions for the coming period.
Main priorities
Sipos‑Tompa identified four primary focus areas for supervision:
- strengthening the resilience of the economy;
- advancing digital transformation;
- addressing supervisory questions arising from the rapid spread of artificial intelligence (AI) functions;
- integrating sustainability, in particular climate and environmental risks, into supervision.
He said the MNB’s role goes beyond guarding financial stability to include supporting economic policy, reinforcing EU compliance, and maintaining security and consumer confidence.
Banking sector transformation and digitisation
The deputy governor noted that the banking sector is evolving: traditional banks are being replaced by hybrid and then digital banks, moving toward what is described as an "intelligent bank" model. Banking operations are increasingly data‑driven, creating new opportunities and regulatory challenges.
He provided concrete figures: 60–70% of retail customers already use digital channels for banking, which the MNB regards as a good result. Nevertheless, internal digitalisation is progressing more slowly, paper documentation remains significant, and some corporate lending products cannot yet be handled fully electronically.
The MNB aims to accelerate digital transformation to boost the banking sector’s competitiveness. The central bank intends to support innovative and competitive operations through both regulatory and supervisory measures.
AI: strategies and supervisory perspective
The MNB views AI’s spread as rapid and stressed that a "360‑degree view" is needed to ensure the technology spreads safely. For that reason, the bank has required institutions to develop AI sub‑strategies; for the first time the MNB requested these by June 30 this year. The MNB says it possesses the necessary expert and technological experience as well as knowledge of the financial sector’s challenges to play a supportive role in regulation and supervision.
Sustainability and climate risks
The central bank treats the impacts of climate change as both a risk and an opportunity. Sipos‑Tompa highlighted that Hungary’s central region is among Europe’s fastest‑warming areas, and that environmental risks are not merely abstract future issues: they have direct effects on the economy, companies’ operations and therefore the banking sector.
From a supervisory standpoint, identifying and managing sustainability risks and integrating sustainability considerations into institutional governance are priorities. Legal frameworks are being strengthened: from 2026 the Hpt. (the Hungarian act on credit institutions) will mandate certain sustainability expectations, with detailed requirements set out in the MNB’s green banking recommendation, aligning with EBA guidance. The Bit. (the insurance sector law) will expand to include sustainability requirements from 2027, reflecting the outcomes of the Solvency II review.
The MNB is conducting a sector‑level survey of domestic banks and insurers to assess preparedness for these green expectations and to identify good practices.
Conclusions
According to Sipos‑Tompa’s presentation, the MNB is shifting toward a more supportive supervisory stance: using regulatory and supervisory tools to foster digitalisation of the financial sector, responsible use of AI and the handling of sustainability risks. These priorities are intended to protect financial stability while enhancing the economy’s competitiveness.
Dr. Levente Sipos‑Tompa has served as Deputy Governor responsible for supervision of financial organisations and consumer protection at the MNB since October 2, 2025. He earned his law degree from Pázmány Péter Catholic University in 2008.
