Ukraine is introducing open banking: NBU approves regulation to come into force on August 1
28 July 14:21
On August 1, 2025, open banking will officially start operating in Ukraine – the National Bank has approved the relevant Regulation. This was reported by the regulator, "Komersant Ukrainian" reports.
Open banking is a secure and structured data exchange between payment service providers through specialized APIs. Such an exchange is possible only with the user’s consent, for example, to obtain information from his account or initiate a payment.
The NBU explained that the introduction of open banking will promote the development of financial technologies, expand competition in the payment sector, improve the quality of existing services and create new products. It is also part of Ukraine’s commitments on its way to joining SEPA and the European Union.
The new rules define
- the procedure for granting third-party payment service providers access to user accounts;
- principles of interaction between participants in open banking;
- conditions for the provision of non-financial payment services;
- rules for granting and withdrawing user consent;
- classification and use of APIs.
Payment institutions have five months to adapt their activities to the new requirements.
The NBU has also defined the authorization procedure for legal entities that want to provide non-financial payment services within the framework of open banking. To obtain this status, a company must submit documents and be authorized by being included in the Register of Payment Infrastructure.
Separately, the regulator has established requirements for the reputation of applicants and their managers, conditions for engaging third parties and technology operators, as well as procedures for extending or terminating authorization.
In addition, the Regulation on Registration of Payment Systems was amended: from now on, information about open banking services must be included in the certificates of technological operators.
As previously reported, the launch of open banking completes the implementation of the provisions of the European Payment Services Directive PSD2 (2015/2366) and the relevant section of the Law of Ukraine On Payment Services.
