Open Banking is an ecosystem implemented to provide payment service users with more diverse and attractive offers.

With Open Banking, users can manage their everyday financial decisions more effectively by using consolidated information about their cash flows and account balances from multiple financial institutions in a single application. At the same time, the implementation of Open Banking positively impacts the development of the financial sector as a whole by increasing competition among payment market participants, improving the quality of payment services, reducing costs, enhancing convenience, promoting financial inclusion, and fostering innovation.

A key aspect is ensuring user trust in this new ecosystem, which is achieved through the introduction of rules and mechanisms agreed upon by the National Bank of Ukraine (NBU) and participants in the Open Banking system.

From a technical perspective, Open Banking involves the secure exchange of financial data between banks and third-party providers (TPP — Third Party Providers) with the client’s consent, based on API technology.

Within the Open Banking ecosystem, the Bank may act not only as an account servicing payment service provider, but also as a third-party provider of non-financial payment services (TPP), in particular:

• as an Account Information Service Provider (AISP);
• as a Payment Initiation Service Provider (PISP).

The Bank has the relevant authorization from the National Bank of Ukraine and is included in the Register of Payment Infrastructure (RPI).

The Extract from the RPI can be viewed via the link.

As an AISP, the Bank, with the user’s consent, obtains access to information about the user’s accounts opened with other account servicing payment service providers (ASPSPs), for the purpose of displaying such information in the Bank’s interfaces and ensuring convenient financial management.

As a PISP, the Bank, upon the user’s instruction, may initiate payment transactions from the user’s accounts opened with other account servicing payment service providers (ASPSPs), without the need to use the separate interfaces of such providers.

Such services are provided exclusively with the user’s prior consent, which is given through secure interfaces using authentication procedures, including strong customer authentication (SCA), and may be withdrawn by the user at any time.

The Bank ensures the processing and use of the obtained data exclusively within the scope of the user’s consent and in accordance with the requirements of Ukrainian legislation, including in the area of personal data protection.

Detailed information on the terms for providing non-financial payment services is defined in the Bank’s public offer

API (Application Programming Interface) is a set of interfaces that allow third-party services to access banking data and initiate transactions (with the client’s consent) without compromising confidentiality or security.

TPP (Third Party Provider) is a third-party financial service provider that gains access to clients' accounts with their permission.

AISP (Account Information Service Provider) is a provider of account information access services.

PISP (Payment Initiation Service Provider) is a provider of payment initiation services.

Consent Management is a system for managing users’ consents for processing their banking data.

Strong Customer Authentication (SCA) is enhanced customer authentication in accordance with PSD2 standards.

PSD2 (Revised Payment Services Directive) is the updated EU directive on payment services that forms the basis of Open Banking.

Interface — a set of software and hardware tools designed to perform the functions of electronic interaction between various devices and types of software used by payment market participants in the information and telecommunication systems of a payment service provider and/or in a public network, for the purpose of applying authentication procedures and providing financial and/or non-financial payment services.

Bank interface — a remote service interface, such as a mobile application, web interface, or other digital channel, through which the user interacts with the Bank, creates and submits requests, provides consent, and receives the results of the services provided.

Within Open Banking, the Bank provides non-financial payment services as a third-party provider of non-financial payment services in accordance with the requirements of Ukrainian legislation.

The Bank may act in the following roles:

Account Information Services (AISP)

The Bank, as an Account Information Service Provider (AISP), enables the user to receive information about their accounts opened with other account servicing payment service providers (ASPSPs).

Such information may include:

• account information;
• account balance;
• account transaction history, within the scope of the consent provided.

Such information is obtained exclusively on the basis of the user’s consent and within the scope defined by such consent.

Payment Initiation Services (PISP)

The Bank, as a Payment Initiation Service Provider (PISP), enables the user to initiate payment transactions from accounts opened with other account servicing payment service providers (ASPSPs).

Based on the user’s instruction, the Bank creates and submits a payment instruction to the relevant ASPSP.

The execution of the payment transaction, verification of the payment instruction, and debiting of funds are carried out on the ASPSP side after confirmation by the user using authentication procedures, including strong customer authentication (SCA).

The provision of non-financial payment services within Open Banking is carried out in accordance with the following interaction procedure:

1. Through the Bank interface — mobile application, web interface, or other digital channel — the user initiates:
   • the connection of an account to receive account information (AISP), or
   • the initiation of a payment transaction (PISP).
2. Based on the user’s actions, the Bank creates the relevant electronic request and submits it to the account servicing payment service provider (ASPSP) through a dedicated Open Banking interface (API).
3. The user completes authentication on the ASPSP side and provides consent for:
   • access to account information for AISP, or
   • execution of the payment transaction for PISP.
4. After confirmation by the user:
   • the ASPSP provides the Bank with access to account information for AISP, or
   • the ASPSP executes the payment transaction for PISP.
5. The result of the service is displayed to the user in the Bank interface.

Open Banking services are provided exclusively with the user’s consent.

Before consent is provided, the user is shown the key information about access to the account or the payment transaction, including the scope of data or transaction parameters and the validity period of the consent.

Consent and confirmation of transactions are provided on the side of the bank where the user’s account is held, using authentication procedures.

The user has the right to withdraw the provided consent at any time, after which access to the account or the ability to initiate transactions is terminated.

The user independently determines the scope and duration of access to their accounts and provides consent to receive the relevant services exclusively through secure interfaces.

The user has the right to withdraw the provided consent for access to accounts or initiation of a payment transaction at any time, including through the Bank’s interfaces or on the side of the account servicing payment service provider (ASPSP).

Open Banking services are provided in compliance with the requirements of Ukrainian legislation, information security standards, and personal data protection requirements.

Data exchange between Open Banking participants takes place through secure communication channels using dedicated interfaces (APIs), which ensure the confidentiality and integrity of the transmitted information.

The Bank does not access the user’s accounts without the user’s consent and does not carry out transactions without the relevant confirmation from the user.

In case of questions, suspicion of unauthorized access, or the need to submit a request, the user may use the communication channels specified on the Bank’s official website.

Procedure for non-accepted, erroneous, and fraudulent transactions:

Information about scheduled maintenance and emergency situations is posted on the Bank’s page: PUMB maintenance

According to the “Procedure on the organization of Open Banking of JSC “FUIB” as a provider of payment account services for account servicing”, in the event that JSC “FUIB” detects non-accepted, erroneous, improper, or fraudulent payment transactions initiated by a user via a Non-Financial Payment Service Provider (NFPSP) for payment initiation, JSC “FUIB”, if the user is not at fault, shall refund the funds for such transactions to the user. For detected such transactions, JSC “FUIB” may, for the purpose of conducting an investigation, request additional documents from the Non-Financial Payment Service Provider that initiated the transfer. And, if evidence of fault by such a Non-Financial Payment Service Provider is obtained, it has the right to initiate a financial claim against that provider to recover the losses incurred in respect of those payment transactions.

Information about possible user contact channels regarding transactions initiated within the Open Banking service:

• Telephone contact +38 044 290 7 290, +38 096 290 7 290, +38 050 2907 290, +38 093 290 7 290, (line for “Persona” clients, line (0 800 501 495) ), operating hours: around the clock (subject to the client completing the authentication procedure);
• Oral or written inquiry at a branch (subject to verification of the applicant/complainant’s identity);
• Social networks (subject to the client completing the authentication procedure);
• Forums (subject to the client completing the authentication procedure);
• QR code in the branch;
• Email [email protected];
• Bank website;
• PUMB mobile application;
• Internet banking or client-bank for corporate clients;
• Postal mail, written inquiries (which are considered under this procedure) to the Bank’s legal address: 4 Andriivska St., Kyiv, Ukraine, 04070;

Regarding the provision of non-financial payment services (AISP/PISP), the review of user requests and interaction with other Open Banking participants are carried out by the Bank in accordance with the Bank’s internal regulatory documents, including administrative documents governing the handling of customer requests and incoming correspondence.

The Bank ensures the registration, recording, and review of such requests, as well as interaction with account servicing payment service providers in order to establish the circumstances of the transaction and make the relevant decision.