Modern digital banking technologies in the conditions of war: The unique case of IBOX BANK represented by its shareholder Alona Shevtsova
The ‘Ukrainian Digital Banking in wartime conditions’ international online conference organized by the Banker International Financial Club took place on August 30. Key participants of the event were the most prominent representatives of the banking and financial sector of Ukraine and other countries, who shared their experience in the field of workflow digitalization and shared the latest innovative solutions and digital products.
Alona Shevtsova is a shareholder and the Chairman of the Supervisory Board of IBOX BANK. The famous businesswoman also participated in the event and told the audience about the transformation of the strategy of IBOX BANK. She also shared a lot of interesting information about how her financial institution managed to grow by digitalizing business processes.
During the forum, she noted the highly effective approach of the National Bank of Ukraine during the preparation of the sector for the likely introduction of martial law.
“It was an active effort to provide the necessary recommendations to the banking sector in order to prepare the banking system for war. Thanks to effective control over the situation, it was possible to keep it stable. There was no panic, so, everyone was working and understanding that we had no choice other than to overcome everything. Due to the absence of restrictions on the part of the regulator, it was possible to neutralize all risks of panic, especially among customers,” says Alona Shevtsova.
In her speech, the Chairman of the Supervisory Board of IBOX BANK Alona Shevtsova also noted that the banking sector continues to develop despite the war.
“The war has shaped new paradigms of our development. We could not accept this new turn of history as degradation at the genetic level. We continue to develop while showing flexibility in the new reality,” says Alona Shevtsova.
Alona Shevtsova also added that the liquidity of Ukrainian banks allows the sector to remain the main driver of the Ukrainian economy.
IBOX BANK has fully resumed work on projects planned for the current year.
“Our key model is the provision of services in the B2B segment. At the same time, we have already fully resumed work on implementing innovations for working with individuals in 2022, as well as expanded our plans for front-end systems for legal entities. We want to simplify the access to the bank for our customers, which became especially important when the most loyal customers had to go abroad,” Alona Shevtsova said.
The Chief Expert of the Information Security Department of the NBU Security Department Anton Kudin also took part in the ‘Ukrainian Digital Banking in wartime conditions’ forum.
The representative of the National Bank informed the audience about the main aspects of ensuring cybersecurity in the banking sector of Ukraine in wartime. In particular, he spoke about the attacks of hackers from the Russian Federation on Ukrainian banks and their functionality. He also talked about all activities conducted by the regulator to counter the aggressor in cyberspace and commented on the use of cloud technologies by banks in the conditions of war and after its end.