The National Bank joined the Global Financial Innovation Network

Популярне

Quarantine to extended until mid-May in Ukraine, libraries and museums will open

On Tuesday, April 21, the Cabinet of Ministers of Ukraine held a regular briefing on the situation with counteracting...

Kyiv City Council is promptly considering a comprehensive plan for construction on the lake

A new comprehensive territory plan of Bilychi micro-district was introduced in the Department of urban planning and architecture of...

New Ukraine’s government clarifications: in elevator -with mask, fine up to 34K hryvna without mask

The Cabinet of Ministers of Ukraine has provided clarifications to carry ID cards, where is it necessary to wear...

The National Bank of Ukraine announced that it had joined the Global Financial Innovation Network (GFIN). According to the regulator’s website, this will enable the National Bank of Ukraine to increase the level of penetration of innovations into the financial sector and contribute to achieving the objectives of the FinTech Development Strategy in Ukraine until 2025.

According to the website of the National Bank of Ukraine, the GFIN membership will provide the National Bank with advantages in gaining access to the exchange of experience, information and analytical reports between regulators from around the world; in obtaining expert assistance in building a regulatory “sandbox” in accordance with the best world practices; in exploring innovative solutions for a complete understanding of probable risks, modern approaches and methodology for FinTech market regulation.

“The National Bank is actively working to create a fully-fledged FinTech ecosystem in Ukraine with innovative financial services and accessible digital services. Its creation provides for the sustainable development of innovation, increased competition in the financial market, the transition to a Cashless economy, as well as improved financial literacy of consumers and businesses,” stressed Arsen Makarchuk, Director of the Strategy and Development Department of the National Bank of Ukraine.

The primary missions of the Global Financial Innovation Network are:

– to promote collaboration and exchange of experience on innovation between financial regulators;

– to improve cooperation between regulators and businesses in the field of FinTech.

The Global Financial Innovation Network, which was launched in January 2019 as a network of financial market regulators and private companies working in the field of FinTech, already consists of more than 60 organizations. Their aim is to develop financial innovation to improve customer needs satisfaction.

The National Bank of Ukraine is now at the beginning stage of joining the international FinTech community and interacting with other regulators of this innovative market. “We look forward to further successful steps towards the effective development of FinTech through participation in the Global Financial Innovation Network. After all, this international information hub of regulators and central banks is engaged in the development of FinTech, RegTech, SupTech and other innovations that increase the security, safety and accessibility of financial services, as well as the level of communication between regulators and players in this market,” explained Volodymyr Kuchyn, Head of the Office for European Integration and International Programs of the National Bank of Ukraine.

Read also “The National Bank expects an increase in population incomes and GDP”

Translated by Anna Voronina

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Український бренд одягу

- Advertisement -

Обмен Валют

Найновіше

Two NAU dormitories were transferred to private individuals using forged documents

The press service of the prosecutor's Office of the Kyiv city reported that law enforcement agencies are trying to...

- Advertisement -

Слідуйте за успіхом разом із нами! Кваліфіковані юридичні послуги

Embezzlement of $13 million was revealed during the construction of the Velyka Okruzhna road

The press service of the prosecutor's office of the city of Kyiv reported on the establishment of the fact of violation of state interests...

By forged documents, the entrepreneur took possession of two premises on Hrushevskoho Street​

The press service of the Kyiv Prosecutor's office informs about sending to the court an indictment on the fact of fraudulent seizure of two...

The bank provided a credit for UAH 11 million for a non-existent property

The Prosecutor's Office of Kyiv city sent to the court an indictment against the head of a private enterprise, who is suspected of seizing...

Experts comment on the government’s restriction of support of the Export Credit Agency project

On the 3rd of February in the first reading Verkhovna Rada of Ukraine passed the bill №3793 “On making amends to the Law of...

Думай

Experts comment on the government’s restriction of support of the Export Credit Agency project

On the 3rd of February in the first reading Verkhovna Rada of Ukraine passed the bill №3793 “On making...

Читай

Embezzlement of $13 million was revealed during the construction of the Velyka Okruzhna road

The press service of the prosecutor's office of the city of Kyiv reported on the establishment of the fact...

Теж цікаво

Блоги

Alina DEMCHYK | Protecting the rights of victims of domestic violence

Domestic violence is one of the most urgent social problems affecting Ukrainian society. Statistics show that about 1.8 million Ukrainian women experience domestic violence...

Andriy ZABLOVSKY | Big Data market in Ukraine or how not to miss your chance?

According to IBM Research, 90% of all human data has only appeared in the last 10 years. At this rate of data generation, in...

Andriy HREBONKIN | National Economic Strategy 2030: Future changes coming to the construction sector

At the end of 2020, the Cabinet of Ministers of Ukraine published the National Economic Strategy 2030, which is considered a fundamental roadmap for...

Andrii ZABLOVSKYI | Artificial intelligence technologies serving for “smart cities”: Ukraine and the world

Technologies developed on the basis of artificial intelligence are widely used for the needs of “smart cities”: starting with traffic handling (such as in...

Andrii ZABLOVSKYI | How the Law №466-IX should not be “improved” or why attempts at its “cosmetic” revision do not help

Despite numerous appeals from business and the expert community, the scandalous tax draft №1210, which entrepreneurs called "tax terror", became Law №466-IX and came...
- -