Open Banking Lab launched in Ukraine

1991 Open Data Incubator, the National Bank of Ukraine and OTP Bank JSC have announced the launch of a joint incubation program for OpenTechnology start-ups called Open Banking Lab. The program is aimed at promoting the open banking standard in Ukraine. As part of the program, Open Data Incubator will support start-ups that develop products based on open banking data.

Open banking is a new standard in banking whereby banks provide third-party developers with access to open (non-confidential) data and their own API. Developers can then use the functional and content of the bank in their own applications and platforms.