September 23 (SeeNews) - Romania's central bank BNR said on Monday it has launched a platform in order to support, advise, and also to better control companies active in FinTech.
Through the FinTech Innovation Hub platform, BNR aims to support the market developments in payment and financial services, as well as to bring innovation monitoring into line with European trends in the area of payment services and payment instruments, in order to ensure their security and safety, it said in a press release.
The FinTech Innovation Hub initiative will focus on encouraging and supporting innovation in payments and payment instruments, in a controlled manner and for the benefit of consumers and businesses, while seeking at the same time to identify the potential risks involved, as well as to propose measures to manage them.
Companies that are directly involved in the development of innovative payment services solutions can start a dialogue with central bank experts with a view to presenting their FinTech innovation projects or to receiving guidance on the compliance of such services and products.
Through the FinTech Innovation Hub, the national bank said it seeks to create a safe environment for the development of innovations in payment services, which will support its mission of maintaining the stability of the banking and financial system and at the same time increasing financial inclusion, by facilitating access for consumers and businesses to payment services and other secure, efficient and convenient financial services, according to their needs.
At the same time, the bank intends to identify the regulatory and/or supervisory measures necessary to mitigate any risk associated with innovative products and/or services in the field of payment services, without hindering the development of such innovative solutions/products.
(1 euro=4.7491 lei)