FINTECH IN UKRAINE’S POST-WAR RECOVERY: GOVERNANCE AND MANAGERIAL REFLECTIONS

Анотація

Subject of the research. This paper examines a FinTech-centered, “born-digital” governance framework for Ukraine’s post-war recovery. The subject spans state digital platforms – DREAM (public investment management), Prozorro/BI-Prozorro (public procurement), and the National Bank of Ukraine’s open-banking and instant-payment rails – together with results-based budget reimbursements, SOE ownership reforms aligned with OECD standards, and integrity expectations (CPI/MONEYVAL). The core idea is that when project-cycle events – registration, procurement, milestone verification, payment, and audit – are linked by shared identifiers and machine-readable logs, FinTech becomes the operating system of reconstruction rather than a peripheral tool. Methodology. The study (i) maps the governance stack – platforms, legal mandates, and incentives; (ii) traces the plan – payment – result process under results-based reimbursements; and (iii) argues for operationalizing a machine-derivable KPI suite. The KPIs include: approval-to-cash time; share of reconciled account-to-account (A2A) payments; end-to-end traceability in DREAM (live links to procurement and payments); procurement competitiveness (e.g., single-bid share); MSME participation; incidence and remediation speed of red flags; and territorial equity of outputs. Although primarily analytical, the framework is anchored in current institutional designs and public data structures, enabling replication and subsequent causal evaluation as platform rollouts vary across sectors and regions. Aim of the research. The aim is to design and substantiate a FinTech-centered governance framework that (a) shortens the interval from verified milestones to supplier cash, (b) reduces discretion and transaction costs through standardized, auditable workflows, and (c) enables scalable private co-financing (supplier finance/factoring) by exposing standardized data to banks and FinTechs. This allows translating institutional reforms into measurable performance using the proposed KPI suite. Findings and conclusions. Coupling DREAM’s single pipeline and medium-term plan with Prozorro’s donor-aligned module and BI red-flagging, and with open-banking APIs and instant payments, yields operational discipline: funds flow on verifiable events; error correction shifts to pre-payment; approval/settlement times compress; and competition improves. EU/IMF conditionality turns digital deliverables (e.g., reconstruction management tool completion, annual Single Project Pipeline updates) into binding management tasks. Ownership and integrity frameworks (SOE law, OECD alignment, CPI/MONEYVAL) raise the supervisory baseline sustaining these gains. The KPI suite converts this architecture into a management instrument for continuous monitoring, benchmarking, and course correction at portfolio scale. Originality and practical implications. The contribution of this research: (i) reframes FinTech as backbone infrastructure – data as contract, APIs as process, payments as proof of performance – and (ii) provides an implementable KPI standard that donors, ministries, banks, and PIUs can compute directly from platform data. Practically, the framework narrows the gap between commitments and outputs, lets PIUs run one process for multiple financiers, and equips banks and FinTechs to scale working-capital solutions for MSMEs. Limitations are data quality, identifier hygiene, and uneven administrative capacity, motivating future causal evaluation and equity-focused analyses.

Класифікація

Ідентифікатори

Схожі роботи