Key take‑aways
| What changes? | Why it matters | Who must act? | Deadline |
|---|---|---|---|
| Secure API access to customers’ accounts (“open banking”) becomes mandatory. | Boosts competition, spurs new FinTech products, aligns Ukraine with EU/SEPA standards. | Banks, payment institutions, FinTechs, third‑party providers. | 1 Aug 2025 (five‑month adaptation window). |
What the NBU just approved
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Regulation on open‑banking APIs – sets a single technical standard for sharing account data or initiating payments, but only with a customer’s explicit consent.
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Rules for third‑party providers (TPPs) – defines authorisation, onboarding to the NBU’s Payment‑Infrastructure Register, reputation and outsourcing requirements.
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Updates to payment‑system registration – operators must list any open‑banking services in their official certificates.
How Ukraine’s open banking will work
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User consent first. Customers choose which apps can view balances, transaction history or send payment orders.
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Two core services (mirroring EU PSD2):
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AIS – Account‑Information Service (read‑only access).
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PIS – Payment‑Initiation Service (push payments directly from the account).
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Standardised APIs. All market participants must support the same interface, ensuring security, uptime, dispute‑handling and revocation of consent.
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Five‑month migration window. Existing players must upgrade systems, test sandboxes and file compliance reports by 1 August 2025.
Business impact
| Segment | Opportunity | Immediate tasks |
|---|---|---|
| Banks & PSPs | New revenue via premium APIs, embedded‑finance partnerships. | Build PSD2‑compliant gateways, update T&C, educate customers. |
| FinTech & retail apps | Faster onboarding, real‑time payments, personalised finance tools. | Apply for TPP status, pass NBU authorisation, integrate API sandbox. |
| Merchants & e‑commerce | Lower card fees, instant pay‑by‑bank checkout. | Integrate PIS options at checkout. |
What’s next?
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Sandbox testing: NBU to publish a reference API spec and launch interoperability tests.
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Consumer campaign: Banks must inform customers how to grant or revoke consent.
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EU alignment: Full PSD2 compliance accelerates Ukraine’s road toward SEPA participation and future EU membership.
Bottom line
From 1 August 2025, Ukraine joins the open‑banking club. Financial institutions have five months to retrofit their tech stacks, while FinTechs gain a clear legal pathway to launch AIS/PIS services. Early movers stand to capture new market share—and help pull Ukraine’s payments landscape up to European standards.
