Система управління небанківських надавачів фінансових платіжних послуг: запровадження організаційних заходів

With the adoption of the Regulation on Requirements for the Management System of a Financial Payment Service Provider for Non-Bank Payment Service Providers, approved by Resolution of the NBU Board № 123 dated October 10, 2024 (hereinafter – the Regulation), the clock has started ticking for non-bank payment service providers to bring their activities in line with the requirements of the said regulatory act. These requirements are complex and relate to all areas of activity: from organizational structure to development of internal regulations, from setting up internal processes to development or improvement of information systems. This article focuses on analyzing and highlighting the problems that non-bank payment service providers may potentially face when fulfilling the requirements for bringing their organizational structure into compliance with the requirements of the above Regulation. The author emphasizes that in today’s realities, given the difficulties and challenges faced by businesses in times of war and economic crisis, the payment market regulator should set more flexible and longer deadlines for bringing the activities of supervised entities into compliance with the requirements of its regulations. By studying the realities of existence of non-bank payment service providers and the requirements imposed on them by the legislation in force prior to the entry into force of the Regulation, as well as by analyzing the experience of banks, the author identifies a number of difficulties that non-bank payment service providers may face and suggests potential ways to resolve them. The author comes to the conclusion that the process of establishing a proper organizational structure will require significant efforts from non-bank payment service providers, since, firstly, given the somewhat innovative nature of the requirements, there are not enough specialists in risk and compliance management in the non-banking sector on the labor market, and secondly, it will take time to train specialists from the internal reserve, due to the need to improve their skills and master the new specifics of their duties.