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NBS launches innovation hub

A new innovation hub was launched today (1 April 2019) by Národná banka Slovenska (NBS) in cooperation with the Ministry of Finance of the Slovak Republic.

The information hub is intended to support the implementation of modern technologies in the Slovak financial market and to enhance the rules under which the market operates. It is aimed at interested parties that have a viable business plan in the area of fintech. Such parties can use the hub to dialogue with NBS experts who can help them gain a more detailed understanding of the requirements for doing business in the financial market.

Interested parties can contact NBS using the contact form, which will enable our experts to gain a basic overview of the party’s fintech intentions.

Speaking about the new initiative, Ms Júlia Čillíková, Executive Director of the Regulation and Financial Consumer Protection Division, said: “The innovation hub will provide those interested in doing business in this area with information about an ecosystem of innovative business models and will help them get to grips with the relevant regulatory requirements.”

Crowdfunding, virtual assets, and mobile payment applications are just some examples of the innovations that are supporting the establishment of new business models and expanding consumer access to financial services.

New technologies such as blockchain, cloud computing and artificial intelligence are also transforming the way in which established market participants do business. The innovation hub should make it easier for institutions to adopt innovative approaches and thus provide more efficient and cheaper services.

Národná banka Slovenska also hopes this initiative will further improve its understanding of the dynamic developments underway in fintech, so that it can support the cultivation of innovative business practices in the financial market.

The innovation hub will be operated in accordance with NBS’s mandate so as to contribute to the secure and sound functioning of the financial market, with the aim of ensuring financial market credibility and the protection of financial consumers and other financial market customers.

Martina Vráblik Solčányiová
NBS Spokesperson

National Bank of Slovakia
Communications Section
Imricha Karvasa 1, 813 25 Bratislava, Slovak Republic
Tel.: +421-2-5787 2142, +421-2-5865 2142, +421-2-5787 2169, +421-2-5865 2169

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