FINTECH AND INSTITUTIONAL INFRASTRUCTURE FOR POST-WAR RECOVERY OF UKRAINE Glib Aleksin1, Svitlana Usherenko2, Rostyslav Dyuk3
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Abstract
The purpose of the paper is to assess the capacity of Ukraine’s FinTech sector and supporting institutional infrastructure to facilitate the delivery of finance for post-war recovery and reconstruction, and to identify the principal constraints to scaling such mechanisms. Methodology. The study applies quantitative-descriptive and comparative institutional analysis to data covering the period from February 2022 to H1 2026, supplemented by selected regulatory developments through September 2026. The empirical basis combines official data from the National Bank of Ukraine, Ukrainian government institutions, EU institutions, World Bank, the Ukrainian FinTech Catalogue, and public investment and reconstruction platforms. Descriptive calculations are used to assess payment digitalisation, FinTech market development and the scale of digitally supported recovery programmes, while comparative institutional analysis examines Ukraine’s progress in Open Banking and integration with the European payments framework. Results. The findings indicate that Ukraine has developed a comparatively strong transactional and digital public infrastructure for delivering recovery finance. In H1 2026, 96% of card transactions by number and 67% by value were cashless, and card-acceptance points reached approximately 699 thousand. The eRecovery programme had distributed approximately UAH 119 billion to more than 231 thousand households. At the same time, the capital-facing component of the financial infrastructure remains less developed. The FinTech sector is predominantly self-financed, operational evidence on Open Banking remains incomplete, and Ukraine’s accession to SEPA has not yet been completed. Practical implications. The results suggest that policy priorities should focus on the operational implementation of Open Banking, deeper integration of financial and public investment data, improved access to growth capital for FinTech companies, and further cross-border payment integration. Value & Originality. The study contributes to the literature by examining private FinTech, digital public infrastructure and financial institutions as interconnected components of a recovery finance delivery system rather than as separate elements of financial digitalisation. Research also distinguishes transactional capacity from capital mobilisation and project execution capacity, thereby providing a framework for assessing the role of digital financial infrastructure in Ukraine’s post-war recovery.
How to Cite
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FinTech, Institutional Infrastructure, Reconstruction Finance, Open Banking, Digital Public Infrastructure
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