The NBU has published for discussion the draft Regulation on requirements for the risk management system of a non-financial payment service provider
The National Bank of Ukraine submitted for public discussion project Regulations on requirements for the risk management system for non-financial payment service providers. About this informs NBU press office.
The document is aimed at preparing for the implementation of open banking in accordance with the provisions of the Law of Ukraine “On Payment Services”. Its norms will apply to non-bank institutions that provide account information and initiate payment transactions, with the exception of banks.
At the same time, payment institutions, electronic money institutions, as well as branches of foreign payment and electronic money institutions will continue to act in accordance with the Regulation on requirements for the risk management system of providers of financial payment services in cases where they combine this activity with the provision of non-financial payment services.
The proposed document defines the requirements for the organization of the risk management system of such non-bank providers, foresees the need to develop internal documents on the management of operational risks, cyber risks and security risks. Approaches to the development of a methodology for ensuring the continuity of service provision and requirements for periodic updating of relevant internal documents are also defined.
Proposals and comments on the project are accepted in the established form until June 26, 2025 inclusive.
