ASF announces the signing of a financing agreement worth RON 96.4 million for the digital transformation of the authority

The Financial Supervisory Authority (ASF), as beneficiary, signed today, 26 May 2025, the financing contract for the institution's digital transformation project, at the headquarters of the Romanian Digitalization Authority (ADR), through Mr. Alexandru Petrescu, President of ASF, and Mrs. Ana Maria Bușoniu, Geenral Manager of the Intermediate Body for the Promotion of the Information Society (OIPSI) within ADR, who signed on behalf of and for the Managing Authority within the Ministry of European Investments and Projects.

The project, entitled "Digitizing Access for Citizens and Companies to Investments by Ensuring a Sustainable Financial Market – D A C C I A PIFS," submitted under the call for projects related to the Smart Growth, Digitalization and Financial Instruments Program (PoCIDIF), has a total value of RON 96,431,985.00 of which the European Regional Development Fund (ERDF) contributes RON 72,275,096.77 and the national contribution is RON 24,156,888.23, with an implementation period of three years.

The implementation of this European-funded project represents an important step forward in the process of modernizing and streamlining the ASF's regulatory, authorization, supervision, and control, including petition management, alternative dispute resolution, and financial education promotion, and is intended to redefine how ASF operates and interacts with the non-bank financial market.

"The signing of the financing agreement marks an important moment for the Financial Supervisory Authority and for the direction we have taken: digitization as a central pillar of institutional transformation. It is a strategic project, the first to be financed from European funds at the ASF level, which will enable the development of modern digital solutions with a direct impact on operational efficiency, transparency, and easy access to services for both consumers and actors in the non-banking financial sector. I particularly appreciate the contribution of my colleagues in ASF who have worked with professionalism and dedication to prepare this project. I would also like to thank the team at the Romanian Digitalization Authority for their technical support," said Mr. Alexandru Petrescu, the ASF President

This project addresses the need for digital transformation of internal work processes in all business functions of ASF and the new challenges in the process of adopting the European regulatory framework that supports the objective of integrating new concepts in digital finance and sustainable finance.

"Today marks the beginning of an essential stage in the evolution of our institution – the transition to a modern and efficient digital structure that will govern all ASF functions. This project is not just an investment in technology, but an investment in the future of ASF and in our ability to respond more quickly, clearly, and transparently to both consumer expectations and the needs of the non-banking financial market. I am delighted to be coordinating the implementation of this initiative, which will lead to the simplification of internal processes, an increase in the quality of public services provided by tASF, and a strengthening of confidence in the Authority's work. I would like to thank my colleagues involved in the development of the project and our partners at the Romanian Digitalization Authority," said Mr. Gabriel-Ioan Avrămescu, the ASF First Vice-President and project manager.

The overall objective of this project is to develop an integrated IT system that will help ASF improve and expand the digital services it offers to businesses, public institutions, and citizens. By digitizing and optimizing internal processes, ASF will be able to provide more efficient and accessible public services. At the same time, the project will enable the institution to respond more quickly to constant changes and challenges in the non-banking financial market, leveraging the advantages of modern technology.

The benefits of implementing this extensive digital transformation project are manifold, mainly aimed at improving, through digital technologies, the quality of public services provided to businesses and citizens, streamlining operational flows within the institution and the institutional response to market developments, as well as optimizing the supervisory activity at the level of entities active on the market, all in conditions of greater transparency of ASF's activity.

Smis2021+ project code: 338233

Project co-financed by the European Regional Development Fund (ERDF) through the Smart Growth, Digitalization, and Financial Instruments Program 2021-2027.

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