Source: National Bank of Georgia
The National Bank of Georgia has approved the Regulation on Inclusion in Open Banking.
The regulation describes the enrollment procedure and ensures the correctness, reliability and security of the services of the entities enrolled.
Non-banking institutions, provided that they meet the requirements stipulated by the regulation, are given the opportunity to engage in Open Banking as providers of both access to account information and payment initiation services. Any entity regulated by the National Bank of Georgia may be included in Open Banking.
It is important to note that on May 1, 2023, the National Bank of Georgia approved the Regulation on Registration and Regulation of Payment Service Providers. The Regulation allows any entity, including those previously unregulated by NBG, to register as service providers for new business activities, access to account information and payment initiation.
The Innovations Office of the National Bank of Georgia expresses full readiness to assist any entity in the joining Open Banking, as well as to answer the questions of interested parties through the Innovations Office’s email address: firstname.lastname@example.org.