NBU launches pilot project on promoting FinTech solutions

"The National Bank of Ukraine has launched a pilot project to stimulate the development of FinTech solutions in Ukraine and created the Expert Council for Communications with Innovative Companies. The pilot project will last till the end of 2019," reads the report.

The Expert Council will become a platform for communication of the National Bank of Ukraine with innovative companies. Innovative companies can submit an application (in Ukrainian or English) to the National Bank for consideration and discussion of their own new products.

The project will enable the NBU to understand the needs and directions of the innovative financial market development, while innovative companies will be able to understand the peculiarities of current regulation and legislative framework. In addition, if necessary, the National Bank will appeal to the Government with a proposal to amend the Ukrainian legislation to make possible the introduction of truly innovative financial products and services.