E-Archives for Banks: Key Aspects and Prospects

The media outlet Deals published an article summarizing a roundtable discussion titled “Electronic Archives for Banks: Requirements and Practical Aspects,” held on October 31st. The event, organized by the Independent Association of Banks of Ukraine, INTECRACY DEALS, and the Union of Ukrainian Entrepreneurs, brought together banking sector specialists, representatives from the Ministry of Digital Transformation, the Ministry of Justice, the State Archival Service, and the National Bank of Ukraine. Key issues concerning the implementation of electronic archives for banks and businesses in general were discussed.

Among the main topics of discussion were reforms in the field of information technology and the importance of transitioning to electronic document management. The National Bank of Ukraine is actively working on modernizing document management, simplifying the list and retention periods of documents in accordance with NBU Resolution No. 130. Cooperation with the Ministry of Justice and the State Archival Service was also emphasized to further improve the regulatory framework and create modules for integrating bank archives with the NBU.

Representatives from the Ministry of Digital Transformation of Ukraine noted successes in aligning Ukrainian legislation with European standards in the area of electronic trust services. Specifically, a law harmonized with the European regulation, which mandates the use of qualified electronic signatures and electronic wallets, will come into effect on December 31st.

These changes and discussions hold significant value for Ukrainian businesses and the Intecracy Group audience for several reasons:

• Process Optimization: Transitioning to electronic archives significantly reduces paper document flow, lowers storage costs, and accelerates information access.
• Compliance: Updated legislation and harmonization with European standards ensure legal certainty and open new opportunities for international cooperation.
• Increased Efficiency: Integrating electronic systems with the regulator (NBU) simplifies interaction, enhancing the transparency and efficiency of banking operations.

The full article is available at: Deals

Source: Deals