The agreement sends an important institutional signal regarding the role of fintech technologies in modernizing Romania’s financial market.
By signing this agreement, the National Bank of Romania is sending a key message, fully in line with its mission to contribute to financial stability: fintech innovation is not only a driver of modernization in the financial sector but also a strategic opportunity that deserves to be encouraged and supported in order to strengthen the competitiveness, resilience, and long-term development of Romania’s financial market.
The protocol was signed by Cosmin Cosma, President of RoFintech, and Leonardo Badea, First Deputy Governor of the National Bank of Romania (BNR).
“For RoFintech, this protocol marks a milestone. The already cordial dialogue with the National Bank of Romania is entering a new phase of institutional collaboration. Fintech companies are gaining experience on a daily basis regarding how digital financial services operate and the challenges that limit their use. We now have a structured framework within which we can bring this experience to bear in our dialogue with the NBR. We hope that our expertise will contribute to the stability and progress of the local financial market through services that are more accessible, more efficient, and safer for people and businesses in Romania,” said Cosmin Cosma, president of RoFintech.
The collaboration will support the exchange of expertise, market analysis, and the consolidation of knowledge in the field of financial innovation. Among the topics covered in the memorandum are open banking, access to payment services, and the practical implementation of regulations. The aim is to harness the potential of technology to develop modern and efficient payment solutions, alongside better information on the associated risks.
RoFintech will contribute by drawing on the experience of its member companies, documenting the challenges encountered in the market and formulating technical proposals. The association aims to ensure that the needs identified in the development and use of fintech solutions are reflected in the dialogue on the evolution of Romania’s financial ecosystem.
The agreement is concluded for a period of four years, with the possibility of extension. Joint activities will be non-commercial in nature and will be conducted in accordance with the principles of neutrality, technical rigour, accessibility, and practical relevance.