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Digital banking in Ukraine today can be used by individuals, but banks should set themselves the goal of developing convenient, fast and affordable digital banking specifically for businesses.<\/p>\n
This was stated by CEO of OTP Bank, chairman of the Independent Association of Banks of Ukraine Board Volodymyr Mudryi<\/strong> during the SUP IT Day forum organized by the Union of Ukrainian Entrepreneurs.<\/p>\n “There have been several attempts to create digital banking exclusively for entrepreneurs, but none of them have passed the reality test of such a business model. At the same time, banks are currently investing a lot in cloud technologies, security solutions, developing instant payment systems, payment in stores without terminals, and the use of cards itself, via QR or other technologies. All this is aimed at reducing business costs for servicing its customers. We have also started the process of joining the SEPA European payment system. The banks together with the NBU have already created a working group. Access to SEPA will speed up settlements by up to 20 minutes, reduce business costs for settlements in euros and generally simplify the currency control procedure,”<\/em> the banker noted.<\/p>\n Also, according to him, investment banking, which is successfully operating in many countries of the world today, should appear in Ukraine. “When people talk about banks in the world now, they mean primarily investment banking, not traditional banking. Accordingly, there are practically no limits for the banking development,” emphasized V. Mudry.<\/p>\n In addition, he said that businesses should take a closer look at the financial state support for business entities under factoring contracts “Affordable factoring” program, which will be launched by the Entrepreneurship Development Fund and has the scaling prospect on the market.<\/p>\n “Not all Ukrainian businesses are ready for accounts receivable to be sold on the free market. But my deep conviction is that it will be beneficial for everyone, because it will be much faster to receive funds at the expense of a fairly simple tool,”<\/em> V. Mudryi believes.<\/p>\n He noted that Ukraine’s international partners also have big plans for the next year regarding the development of this area. “For example, OTP Bank has signed an agreement with USAID regarding preferential factoring financing for UAH 100 million, and this is only the first grant,”<\/em> said the banker.<\/p>\n <\/p>","protected":false},"excerpt":{"rendered":" Digital banking in Ukraine today can be used by individuals, but banks should set themselves the goal of developing convenient, fast and affordable digital banking specifically for businesses. This was stated by CEO of OTP Bank, chairman of the Independent Association of Banks of Ukraine Board Volodymyr Mudryi during the SUP IT Day forum organized […]<\/p>\n","protected":false},"author":4489,"featured_media":518596,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false},"categories":[24,23],"tags":[],"yoast_head":"\n