HFO: Issues in Implementing New Information System
January 20, 2026
The Housing Finance Organization (HFO) is facing significant issues with the implementation of a new Information System, costing at least €3.55 million from 2021 to 2025. The delays in project implementation have resulted in limitations on its services, including the loss of credit cards and ATMs for clients. An audit report highlights problems with subcontractor performance and administrative weaknesses within the HFO. The failure to complete the project leaves the HFO dependent on KEDIPES and forces it to upgrade its old system. The Auditor General notes institutional weaknesses and the financial repercussions of the delays.