KELER Modifies the Date of Certification for BaNCS

UniCredit Bank Hungary Zrt.
KELER modifies the date of certification (which must be obtained by market participants before introducing the new system, BaNCS) from the planned 4-8 July to 15-26 August 2016.
Tue, 28/06/2016

KELER is in the process of implementing its new system, BaNCS. Before the go-live date all market participants will have to obtain a certification proving they are ready to use the new system. Originally the certification period was supposed to be held between 4 and 8 July 2016. Considering that;

  • most of KELER’s clients have been actively testing, however some did not join the testing yet, KELER would like to provide an opportunity to test the new system for these entities as well;
  •  during the testing, many issues were identified that require additional changes, KELER will carry out the changes  as soon as possible;

  •  based on the feedbacks from clients, KELER plans to change some functions to improve its services;
  •  some functions related to statements have not been completed yet,

KELER has decided to delay the certification period from the planned beginning of July to 15-26 August 2016.

The market test environment will be open until the certification, therefore KELER’s clients will be able to test the new system and the developments made in their own systems.

With this decision, KELER’s aim is that once the repairs and modifications will have been completed the certification takes place in an environment which is as close to the future production system as possible.

The closure of the market test will happen according to the earlier plans.

KELER plans to hold a meeting before the certification with the members of the Beta Working Group, a voluntary professional forum of market participants, including UniCredit Bank Hungary.

Information source: KELER’s announcement

Impact on investors: Period to obtain certification of BaNCS’ readiness by market participants has been further delayed by KELER to grant KELER and the Hungarian market participants more time to adjust the system and to ensure a smooth and „non visible” migration process when introduced to the market. The planned go-live date of BaNCS is still 3 October 2016.