Governor of the National Bank of Georgia (NBG), Natia Turnava, took part in the international conference "Beyond Blockchain" held in Lugano, Switzerland. The event focused on discussing technological innovations shaping the banking, finance, and business sectors.

In her speech, Natia Turnava highlighted the importance of fostering innovation in the financial sector and underscored the role of central banks in advancing financial technologies. She emphasized the growing trend of digitalization in finance, which compels central banks to adapt to rapid technological advancements while effectively managing emerging challenges.

Turnava outlined the NBG’s commitment to exploring new technological capabilities, implementing open regulations, and adopting a technology-neutral approach. These efforts aim to enhance competition, drive innovation, and facilitate the development of consumer-centric financial products.

She also addressed the evolution of fintech business models and stressed the significance of aligning financial technology regulations with European Union standards.

"The National Bank is proactively supporting the development of the financial technology market and diverse business models. Notably, in collaboration with the International Finance Corporation (IFC), we have established a technical sandbox, which has already benefited 16 different companies. This initiative has provided them with free access to open banking products, enabling them to experiment with various use cases," noted Turnava.

As part of the conference, the NBG Governor also participated in a panel discussion alongside representatives from the global financial and banking sectors. The discussion focused on the development of international financial services in Georgia and the potential of digital banking.

"Our ambition is to position Georgia as a leading fintech hub for the Middle East and the broader region. The NBG has taken significant steps to create a favorable environment for financial innovations. We have developed a regulatory framework that facilitates new financial activities while ensuring the secure entry of emerging players into the sector. Additionally, under the leadership of the National Bank of Georgia, a national strategy for fintech development has been formulated. Our vision includes establishing a supportive ecosystem and modern infrastructure that will foster competition in financial services both within Georgia and beyond its borders," Turnava stated.

 

The conference in Lugano brought together representatives from leading global financial institutions, international companies, and experts dedicated to examining the impact of digital solutions on the banking, finance, and business sectors.