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FinTechs belonging to this category provide identification services, which are required for most banking services.
Introduction
Attitude of the country towards identification services
The social and political climate towards identification services is neutral.
Legal affairs
Obligations and requirements to provide identification services
eIDAS applies directly in Hungary. According to eIDAS, authentication may be provided by Qualified Trust Service Providers (QTSP) (as defined under eIDAS). The rules of Outsourcing may further apply.
Additional comments regarding the legal situation for identification services or what FinTech’s must be aware of in this business area
N/A.
Economic conditions
Market size for identification services and biggest companies in this business area
There are currently three (3) QTSPs in Hungary: Microsec, Netlock and the National Infocommunications Services Company Ltd. The first two (2) are private companies and the third is a governmental company.
Additional comments regarding the economic situation for identification services or what FinTech’s must be aware of in this business area
N/A.