Some banks advocated a central bank regulation for guaranteeing strict enforcement of a go-live date. With all documents, plans, cost analyses, and detailed specifications ready, the decision on actual start of implementation has been postponed several times.
Amid conflict of interests of individual banks and the reluctance of banking community to make decision on actual start of implementation, the Hungarian central bank has decided to use its regulatory power, as the timely implementation of the project was in the interest of the entire society and the public good through the elimination of the float on banks’ side and improvement in the quality of services provided to customers.