The Moldovan Banks Association (ABM) and the International Finance Corporation (IFC), a member of the World Bank Group, signed a Cooperation Agreement aimed at modernizing digital financial services, enhancing customer protection, and strengthening the operational resilience of Moldova’s banking sector.

“Trust is the key word in finance. This partnership helps us deliver services that are safer, faster, and easier to use,” said Dorel Noroc, President of ABM. “Together with IFC, we will standardize digital onboarding and e-KYC, pilot Open Banking use cases, expand instant and cashless payments, and strengthen cybersecurity and anti-fraud capabilities. This initiative is about building trust through access to financial services and tangible results.”

“Digital transformation is an important part of building an inclusive, resilient, and competitive financial sector,” said Ulrich Schmitt, the World Bank Group’s Country Manager for Moldova. “Under the ABM partnership the World Bank Group will leverage global lessons and provide practical solutions that can help Moldovan banks innovate securely, expand access to finance, and strengthen trust between institutions and their customers.”

Cooperation pillars:

• Digital onboarding & e-KYC: secure, efficient customer identification aligned with compliance standards.
• Open Banking & payments: interoperable use cases and wider acceptance of instant and cashless payments in line with EU practice.
• Cybersecurity & anti-fraud: self-assessments, workshops, and methodologies for prevention, detection, and response.
• Responsible cloud & financial literacy: guidance on compliant cloud adoption and targeted programs for consumers and SMEs.

Who benefits

• Customers gain faster services and stronger protection.
• SMEs access better tools, quicker financing, and lower costs.
• Banks improve efficiency, align with EU practices, and innovate without compromising stability.

About ABM:

The Moldovan Banks Association (ABM) represents the country’s banking sector and promotes access to financial services, innovation, and consumer protection through policy dialogue, partnerships, and industry-wide initiatives.

For more information about the World Bank Group in Moldova, please, visit: www.worldbank.org/en/country/moldova

For more information about IFC, please, visit: www.ifc.org