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Укр Vitaliy Romanchukevich: Open banking, cybersecurity, and monetary policy are key vectors for the transformation of Ukraine's financial system
First Vice President of the Association of Ukrainian Banks Vitaliy Romanchukevich commented on key trends in the transformation of Ukraine's financial sector during wartime on the live broadcast of the national telethon “Yedyni Novyny” on the Inter TV channel.
According to the banker, the introduction of open banking is a systemic innovation that will change the approach to financial services in Ukraine.
Vitaliy Romanchukevich First Vice President of the Association of Ukrainian Banks”
“This is a structured model that gives customers complete control over their own data and allows them to independently determine who to share what information with,” he said.
According to Vitaliy Viktorovich, this approach increases transparency, promotes competition, and strengthens customer focus.та.
Commenting on cybersecurity issues, Mr. Romanchukevich assured that all potential risks had been taken into account at the system design stage. The National Bank of Ukraine is actively implementing protection mechanisms, and all market participants are required to adhere to high security standards. Personal data will only be disclosed with the client's consent.
The introduction of open banking will also allow users to create a comprehensive financial picture in a single application — with the ability to view all accounts, loans, and savings in different banks, which, according to the banker, increases the convenience and efficiency of decision-making.
In the context of the macroeconomic situation, Vitaliy Romanchukevich emphasized the positive dynamics of inflationary processes: in June, the inflation rate fell to 14.3% compared to 15.9% in May, and by the end of the year, a further slowdown to 9.7% is expected. According to the expert, the main tool used by the regulator to control inflation is the discount rate, which also affects consumer demand and investment activity.
When asked about savings, Vitaly Viktorovich advised:
Vitaliy Romanchukevich First Vice President of the Association of Ukrainian Banks”
“Diversify. Keep some of your money in hryvnia and some in foreign currency. Pay attention to government securities, which are available through banks or brokers. It's safe and profitable. The important thing is not to keep everything in one basket.”
Separately, the First Vice President of the AUB emphasized that Ukraine's banking system had proven resilient in critical conditions: “Since the start of the full-scale invasion, banks have demonstrated stability and readiness to face challenges. Regulation by the National Bank is clear and balanced, and public confidence in banks remains high,” he said.
In conclusion, the banker noted that Ukraine's financial system continues to adapt to new challenges through digital transformation, open banking, and effective monetary regulation — laying the foundation for long-term economic stability.
