Ekaterine Galdava, Vice President of the National Bank of Georgia, says that there is still much to be done in Georgia in the direction of open banking.
At the committee meeting in the one-party parliament, she said they will work on the issue. In addition, she stated that open banking has been implemented in a decentralized manner, which she believes is the reason why it is not working perfectly.
Ekaterine Galdava said that they are still working on a project that will reduce the influence of VISA and MASTERCARD on lari transfers, among others.
"It will take at least a year to do this, it is not an easy project. We are trying to reduce our dependence on the card business a little. We mean that the population should switch to better account ownership, they should understand that using their account will be safer and it is not necessary to have a card everywhere," said Ekaterine Galdava.
