Open Banking Exchange Ukraine launches

Open Banking international membership programme Open Banking Exchange has launched Open Banking Exchange Ukraine to accelerate the development of Open Banking and Open Finance in the country, with local support from Sigma Software Group.

Open Banking Exchange, which is part of the Konsentus Group, helps regulators, self-regulated organisations (SROs) and national communities implement “interoperable open solutions” and runs national and regional membership programmes.

In Ukraine, the Open Banking Exchange team, which is being supported locally by Swedish-Ukrainian IT consulting company Sigma Software Group, has an established relationship with the Ukrainian Interbank Payment Systems Member Association (EMA) and is a member of the Open API Group.

The team confirmed that it is also working closely with the Ukrainian Association of Fintech and Innovation Companies (UAFIC), and the National Bank of Ukraine, as part of the first phase of rolling out an Open Banking ecosystem in the country.

John Broxis, managing director of Open Banking Exchange, said: “OBE is active in Europe, Asia and Latin America, either running membership programmes or providing consultancy to central banks and regulators.

“We have relationships with key industry groups in Ukraine and, by working with Sigma Software, who have local knowledge and expertise, are well-placed to support the adoption of Open Banking in the country.”

Hanna Khrystianovych, director of OBE Ukraine, and fintech and finance programme manager at Sigma Software, called Ukraine a country with “a rich ecosystem” of banks, fintechs and technology.

“John and the OBE team have unparalleled global Open Banking expertise, bringing different stakeholders together to collaborate and jointly shape the industry,” Khrystianovych added.

“We are sure that Sigma Software’s 20 years’ experience in the market, and deep industry knowledge, will result in a highly tailored and relevant programme being delivered.”

OBE Ukraine will host its first event, a public webinar, on 9 December 2021, followed by a series of educational events and publications throughout 2022, which aim to encourage industry collaboration.