Components:
- enhancing digital financial services efficiency and accessibility (remote identification and paperless)
- improving infrastructure for NPL resolution
- strengthening the protection of creditors’ rights
- implementing a digital resilience standard and developing a regulatory platform
- facilitating the use of cutting-edge IT technologies
- developing financial/capital market infrastructure.
Products implemented for the NBU, and key events:
- A guideline has been prepared to promote a tax discount for using a mortgage. An analytical note has been drafted on NPL disclosure to market participants based on European approaches. Proposals for legislative change in the field of NPL resolution have been included in the NBU’s Legislative Amendment Plan within the framework of the Ukraine Facility (EU financial support program for Ukraine).
- A technical specification has been prepared to finalize the software and hardware complex Cash Circulation Automation System in terms of identifying the placement of valuables in storage facilities.
- A plan to train NBU staff in AI competencies was drawn up (a four-component 100-hour program was introduced, and training of a 100-strong implementation team was conducted). An AI knowledge base was created on the NBU’s internal website. An assessment of potential AI applications at the NBU was conducted. Pilot experiments were conducted with multifunctional generative AI (ChatGPT, Copilot for Microsoft 365, DeepSeek) and AI to transcribe and summarize (Zoom AI, Notta.AI, Fireflies.ai) meetings. A plan for further implementation of AI at the NBU was prepared for consideration by collective-decision-making bodies.
- Work was organized to implement a technological solution to automate data exchanges with the Unified Judicial Information and Telecommunications System known as Electronic Court in the NBU’s processes related to document flow, claims and litigation work, and enforcement proceedings support.
- Proposals were developed to improve tax laws governing the restructuring of NPLs, and amendments were drafted to the Bankruptcy Code of Ukraine within a Ministry of Justice working group. Proposals were developed to facilitate lending to military personnel, veterans, and businesses in Ukraine. Draft Law No. 9363 On Amendments to Certain Laws of Ukraine Regarding the Digitalization of Enforcement Proceedings, which is part of the NBU’s Legislative Amendments Plan within the Ukraine Facility, was finalized for a second reading.
- A Roadmap to Implement the Target Model of Ukraine’s Capital Markets Infrastructure was developed and approved by the Financial Stability Council.
- An official assessment was initiated of the NBU Depository’s compliance with international oversight standards (Principles for Financial Market Infrastructures, PFMI).
- Proposals were prepared to make changes to the NBU’s regulatory framework in terms of cashless payments.
- Automatic generation of incidents in ITSM (Information Technology Service Management) was implemented.