KELER Strategic Modernisation Program Update

UniCredit Bank Hungary Zrt.
In reference to the implementation of KELER's new system, its Board decided on a two-phase model under which BaNCS will go live before Hungary joins T2S and subsequently the T2S functionalities of BaNCS will go live at the time of T2S joining (in the Third Wave, on 12 September 2016). The go-live date of BaNCS (Phase 1) is expected for Q2 2016.
Fri, 10/07/2015

Today, 10 July, KELER published the decisions of its Board in respect of the implementation of its new system, BaNCS, and the T2S connection. The Board of KELER reviewed the policy and revised the methodology related to this project, as recommended by the new project management. The proposal included a project and work schedule that was prepared on the basis of the new concept.

In addition, the Board was presented with various scheduling options taking into account the possible impacts of each on KELER's joining T2S. Among the various options the Board of KELER chose and accepted a two-phase implementation model, namely: BaNCS will go live before joining T2S (Phase 1) and the T2S functionalities of BaNCS will go live at the time of joining T2S (Phase 2). The go-live date of Phase 1 is expected for Q2 2016.

By the next Board meeting KELER will prepare its plan for the milestones of the project and its exact schedule for the go-live. These will be consulted with the market participants (direct KELER members) prior to presenting them to KELER's Board.

Additionally, the Board of KELER welcomed the initiative that Beta Test Group and Developer Forum will be launched, which the market participants can voluntarily join, as this will provide them (in particular, the developers of the market participant) with the opportunity to be directly involved in the project. The discussion and coordination with respect to this initiative is expected to be started in the second half of July 2015.


Impact on investors: Until the implementation of its new system, KELER will continue providing services to its clientele as today.