Hungary’s Fintech Evolution: Employment tripled between 2015-2022 

In 2021, Hungary's fintech landscape experienced significant transformation, marked by robust growth, evolving business focuses, and changing employment trends.


In 2021, Hungary’s fintech sector, utilizing innovative technologies, underwent marked expansion. Of the 175 active firms, 85% operated in the B2B domain, although this is decreasing as the market evolves. Micro and small enterprises dominated, accounting for 80%. Typically, larger firms are older start-ups transitioning to fintech, whereas smaller ones have a foundational fintech focus. 

 These firms, in 2021, excelled in developing financial software and systems, often collaborating with industry giants. They achieved a turnover of HUF 220 billion (EUR 568.8 million), up by HUF 50 billion (EUR 129.2 million) year-on-year. Employment nearly tripled between 2015 and 2022, with a 20% rise from 2021 to 2022. While data analytics and business intelligence led in hiring, blockchain saw a 20% reduction in 2022. Employment in the areas of investment, finance, and insurance rose by 23% from 2021. In essence, Hungary’s fintech trends echo global financial shifts. 

Source: hungarytoday.hu

Jakub Warzecha

Creative copywriter, archaeologist. Interested in history, technology and military matters. Specializes in marketing communications and application architecture design.

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