Purpose. Supporting the sustainable strengthening of the Ukrainian financial sector by bridging gaps related to financial inclusion, the protection of financial services consumers’ rights, credit infrastructure, and digital finance.
The program is expected to boost lending to households and MSMEs through assistance in introducing a more effective credit information system and pushing up the number of private individuals who have accounts with official financial institutions, while also increasing cashless transactions through the use of electronic means of payment.
Products implemented for the NBU and key events:
- carrying out assessments and providing reports: Assessment of Credit Information Exchange in Ukraine, Assessment of Gaps in the NBU’s Public Credit Register, Assessment of Ukraine’s Legal Framework for Protecting the Rights of Financial Services Consumers, and the report Sources of Alternative Data for Credit Information. Improving information exchange in Ukraine, and preparing a background paper on the activities of the Financial Ombudsperson
- presenting the results of the study entitled “Credit History Market Operation in Ukraine,” which was conducted by surveying some credit history bureaus and Ukrainian financial institutions
- drawing up a policy on the development and regulation of the credit information system
- assisting in drawing up a policy for regulating credit history bureaus
- supporting the NBU’s representative’s participation as a speaker in the annual conference of the Polish Bank Association and Polish Credit Information Bureau (September 2022), as well as in the international conference entitled “The Role of Cross-Border Exchanges of Credit Information in Promoting the Financial Integration of Displaced Persons” (November 2022)
- holding over 20 webinars to teach practical experience in the effective management of credit information systems in European countries
- studying the level of financial inclusion in Ukraine
- holding webinars on open and digital banking, advanced techniques for customer verification, instant payments, the regulatory sandbox, new payment interfaces, AGILE in modern banking, online lending, the IT component of financial services, the protection of the rights of digital financial services consumers, market behavior, and so on
- holding workshops on internal conflict resolution, and on credit bureaus with a focus on protecting the rights of financial services consumers
- launching expert consultations regarding the modern techniques of remote verification used when entering into agreements and identifying customers and analyzing the legislation that governs digital financial services with a view to improving this legislation
- integrating the Financial Inclusion Strategy, which was developed with support from the IFC, into the 2025 Strategy
- making educational series “10 Questions for a Financial Coach” (in cooperation with the Ministry of Digital Transformation of Ukraine): the series covers the issues of lending/deposits, preparing a financial cushion, and managing your own budget
- supporting the #KnowYourRights awareness campaign (12 million messages to teach rights and responsibilities when using financial services were communicated to the target audience of young people and adults)
- supporting the #Cashless awareness campaign (aimed at raising public awareness of cashless payments and their benefits)
- supporting the Financial Defense of the Country awareness campaign (informing people about the rules for providing certain financial services during martial law)
- supporting the #KnowYourRights.Loans awareness campaign (aims to protect the rights of borrowers and improve public awareness about lending services, and their rights and obligations
- establishing the Talent School of Financial Literacy for educators (aimed at boosting the skills of financial literacy teachers)
- developing the Harazd website (a free online platform to improve the financial literacy of Ukrainians)
- drawing up and submitting to the NBU a report on the use of electronic signatures and the electronic customer due diligence process.