Hungarian fintech company BinX Ltd is launching a new generation financial software platform as part of a 3.6 billion forint research and development investment, Foreign Minister Péter Szijjártó announced on Thursday in Budapest.
According to a statement from the Ministry of Foreign Affairs and Trade, the government will provide 725 million forints in support of the project.
Speaking at the company’s project announcement, Szijjártó said the domestically owned fintech firm plans to create a modern financial software platform designed to offer faster, more user-friendly and cheaper mobile banking access. The development is also expected to help the company expand into international markets. The minister noted that BinX, described as the first and only Hungarian-owned online financial service provider, employs around 150 highly skilled software engineers and developers working on the project. During the development, specialists will rely on the most advanced technologies, including cloud-based systems supported by artificial intelligence.
Szijjártó added that the company’s financial services are aimed primarily at small and medium-sized enterprises, offering innovative payment solutions that reduce administrative burdens and allow businesses to focus more on improving their competitiveness. The minister said the investment demonstrates that an increasing number of Hungarian companies are now strong enough to undertake projects that in the past were typically carried out only by foreign corporations operating in the country. He welcomed the fact that the government has already supported the investments of more than 1,100 Hungarian businesses with a total of 620 billion forints in subsidies, helping generate approximately 2,500 billion forints in overall investment.
Szijjártó also referred to the economic challenges of the past decade and a half, noting that global uncertainty has accompanied the emergence of a new geopolitical order. Despite these pressures, he said Hungary has achieved significant economic progress. The minister warned that growing geopolitical tensions and armed conflicts are creating instability, particularly in international energy markets, which he said affects Europe more severely than other regions. He stressed that the Hungarian government’s policy continues to focus on keeping the country out of wars while protecting the economy and energy supply from the consequences of international conflicts.
According to Szijjártó, maintaining stability is essential to safeguarding achievements such as the creation of one million new jobs, Europe’s lowest taxes and controlled energy costs. At the same time, he described it as encouraging that Hungary’s economy is moving toward a new phase of development, with research and development-based sectors playing an increasingly important role. He noted that a record was set last year when agreements were signed for 14 R&D-related investments worth a combined 227 billion forints, which will result in the creation of more than 600 new research positions.
Szijjártó said the government has also adjusted regulations to make it easier for Hungarian-owned companies to access support for research and development activities, adding that the BinX project is a strong example of this policy in action.
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