FSDK Delegation Completes Successful Visit to NDIF in Budapest

Budapest, Hungary, October 2, 2024 – The Deposit Insurance Fund of Kosovo (DIFK) delegation has successfully concluded a productive visit to the National Deposit Insurance Fund of Hungary (NDIF) in Budapest. The study visit was characterized by insightful presentations and engaging discussions on critical deposit insurance topics, with a particular focus on the latest trends in the compensation process.

The day began with a warm welcome from the Managing Director of NDIF and their staff at the NDIF premises. The DIFK delegation received an introductory presentation from the NDIF Managing Director, which provided an overview of the financial safety net, NDIF’s mandate, governance and organizational structure, the banking sector, deposit insurance system, and current areas of operations and strategic objectives.

Following this, the DIFK delegation presented an introduction to their deposit insurance system, highlighting DIFK’s mandate, financial safety architecture, compensation process, funding mechanisms, key deposit insurance indicators, and strategic goals.

The primary focus of this study visit was the exchange of experiences with NDIF on their new compensation process and advancements in the digitalization of payment methods for depositor compensation, which is also one of DIFK’s strategic objectives for the coming year.

NDIF delivered a detailed presentation on their new compensation process, followed by an in-depth discussion on SCV file quality improvement as a prerequisite for fast and prompt payouts. The session also included a demonstration of NDIF’s new compensation system.

The DIFK delegation expressed their gratitude to NDIF for their warm hospitality and the valuable insights shared throughout the day. This visit marks a significant step in strengthening the collaboration between DIFK and NDIF, paving the way for future cooperation and knowledge exchange.