DIGITALIZATION OF BANKING OPERATIONS IN THE PROCESS OF ACCESSION OF THE REPUBLIC OF MOLDOVA TO THE EUROPEAN UNION

ZAVULAN NICOLAE
University Assistant, PhD student, Law Department, Academy of Economic Studies of Moldova, Chisinau, Republic of Moldova
ORCID: 0000-0002-8923-6444
Email: nzavulan@gmail.com

MIHALACHE IURIE
Associate Professor, Doctor of Law, Law Department, Academy of Economic Studies of Moldova, Chisinau, Republic of Moldova
ORCID: 0000-0002-7474-7487
Email: mihalacheiurie@yahoo.com

DOI: https://doi.org/10.24818/cike2025.99

Pages: 783–790

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Abstract

The digitalization of the banking system in the Republic of Moldova is making remarkable progress, with citizens having at their fingertips innovative solutions that save them from queues at the counters. In this way, banking operations can be carried out entirely electronically, directly from their phone or computer, wherever they are.

The most important achievement is the MIA Instant Payments operation that allows money transfers in seconds, safely and cost-effectively, including Moldova’s acceptance into the Single Euro Payments Area (SEPA), which will facilitate euro transactions with European countries at the same advantageous conditions as local transfers.

In this scientific article, we reported that the main role in the digitalization of banking operations in the process of the Republic of Moldova’s accession to the European Union is played by the National Bank of Moldova (BNM). The National Bank promotes innovation and supports the modernization of the financial sector by adopting new technologies, aligned with European standards.

In conclusion, we believe that the most important benefit of the digitalization of banking operations is the reduction of tax evasion. Numerous studies and analyses indicate a very high correlation between the share of electronic payments (by bank card, internet/mobile banking) in the economy and the reduction of the gray economy. Thus, the banking community in the Republic of Moldova can contribute with know-how in the implementation of digital services and cybersecurity, including by developing applications dedicated to e-government interactions and by promoting public-private partnerships in the field of digitalization.

 

Keywords: banking operations, banking contracts, digitalization, electronic payment system, electronic signature, bank card.

JEL Classification: G 21, G28, O52

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