Ukraine has approved a development plan for the Financial Ecosystem and Technologies

Ukraine has approved a development plan for the Financial Ecosystem and Technologies

The National Bank of Ukraine has recently approved a strategic plan for the development of financial technologies in the country until 2025.

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20 Jul 2020 , 10:43 @ Katie Müller

Ukraine has approved a development plan for the Financial Ecosystem and Technologies

The National Bank of Ukraine has recently approved a strategic plan for the development of financial technologies in the country until 2025.

Development plan

Ukraine should that create a financial ecosystem within five years, which will include innovative financial services together with digital payment solutions. On the whole process will be overseen by the regulatory framework from the NBU with the subsequent goal of joining The Global Financial Innovation Network (GFIN).

It is also expected that most financial service providers will soon move to open banking standards using Blockchain and Big Data technologies.

In the near future, the NBU will also focus on increased security and compliance with legislation, through increased oversight of money laundering operations. In this way, Ukraine also wants to shed light on the cyber security of digital transactions.

Read also: Singapore is the country of Blockchain

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