Ecosystem map 139 –
Romania is also positioned to benefit significantly from EU funding, with eligibility to receive up to $81 billion (€77 billion) by 2030. This includes $31 billion (€29 billion) in grants and loans from the “Next Generation EU” funding via the National Resilience and Recovery Plan (NRRP) between 2021-2026. Such funding could potentially support various sectors, […]
Ecosystem map 140 – Romanian Government
The Romanian government’s key priorities for 2023 include addressing the energy crisis, with an emphasis on supporting vulnerable households and incentivizing decreased energy consumption. While this may not directly pertain to fintech policies, it indicates the government’s broader focus on economic stability and social welfare, which can indirectly impact the financial sector.
Ecosystem map 141 –
The Romanian fintech market has been growing substantially, with around 80 projects showcased, ranging from local ventures to international companies with local presence. Key areas of activity include personal finance, payments, insurance, financial infrastructure, and blockchain.
Ecosystem map 142 –
Regulatory Environment: Fintech companies are leveraging opportunities in open banking under PSD2 and the new EU crowdfunding regime. There is also an increasing trend of fintech companies entering the regulated environment, seeking payment licenses from the National Bank of Romania.
Ecosystem map 143 –
Future Regulatory Changes: Upcoming changes, such as the European Banking Authority’s review on the authorization of payment institutions and the NIS 2 Directive on cybersecurity, are expected to significantly influence the fintech sector in Romania.
Ecosystem map 144 –
Business Models: The B2C sector is strong in payments, personal finances, online lending, and crowdfunding. In the B2B segment, offerings include financial infrastructure, open banking APIs, and digital customer journey platforms for banks and insurers.
Ecosystem map 145 – Financial Supervisory Authority of Romania (RO ASF)
Financial Supervisory Authority of Romania (ASF) is responsible for regulating and supervising the insurance market, the private pension market, and the capital market in Romania. It also plays a significant role in the oversight and regulation of the broader Romanian financial services industry.
Ecosystem map 146 – National Bank of Romania (NBR)
The National Bank of Romania (NBR) is the central bank of Romania, responsible for issuing the national currency, managing monetary policy, maintaining financial stability, and overseeing the banking sector in Romania. It plays a key role in regulating the financial market, including the fintech sector, and ensuring the smooth functioning of the national payment system. […]
Ecosystem map 147 – National Bank of Romania (NBR)
Licensing for Credit Institutions: To operate in Romania, credit institutions must be authorized by the NBR. This involves approval for establishment, registration at the Trade Register, and authorization for functioning. Activities covered include deposits, lending, financial leasing, payment services, and issuance of electronic money.
Ecosystem map 148 – National Bank of Romania (NBR)
Regulation of Non-Banking Institutions: Non-banking financial institutions are regulated under Law Number 93/2009, which outlines their legal form, scope of business, share capital requirements, and NBR supervision.
