POSLOVNI FM PREDSTAVLJA Fina NKSInst Gordana Soldo

Guest Gordana SoldoHosted by Boris ŽivkovićMay 3, 2026

Gordana Soldo

About this episode

What you'll hear in this conversation

When a country's financial system can move money in two seconds instead of two days, it changes more than just transaction speed. It reshapes liquidity, business operations, and even a nation's ability to integrate into larger economic zones. Gordana Soldo, an advisor to FINA's management board, has been at the forefront of this transformation in Croatia, overseeing the development and launch of NKS Instant, a new payment system built entirely with domestic expertise. She explains how this system, already processing payments far faster than its ten-second maximum, is not merely a technological upgrade but a strategic move to prepare Croatia for its eventual adoption of the Euro. This conversation offers a clear view of how foundational financial infrastructure can be modernized from within, creating immediate economic benefits and setting the stage for future growth.

Insights from the conversation

What to take from this episode

The NKS Instant system allows payments to clear in two seconds, even though the scheme sets a maximum of ten. When you build infrastructure that over-delivers on its core promise by 5x, you don't just meet expectations; you accelerate trust and adoption beyond what any marketing campaign could achieve.

Before NKS Instant, a payment initiated at 7 PM on a Friday would not clear until Monday morning. The true value of instant payments isn't just speed; it's eliminating the calendar and clock as barriers to liquidity, fundamentally reshaping how businesses manage their cash flow and inventory over weekends and holidays.

FINA built the NKS Instant system entirely with Croatian IT companies, a point of pride given that many European countries buy foreign solutions for such complex implementations. For critical national infrastructure, choosing local development over off-the-shelf foreign solutions isn't just about national pride; it's about building sovereign capability and retaining expertise within the country.

NKS Instant is designed as the "only true replacement for cash" in terms of immediate transaction finality. The real economic benefit of instant payments for businesses isn't just faster transfers; it's the reduction in cash handling costs and the ability to adapt products and services around immediate payment confirmation.

The system is fully aligned with the European SCT Instant payment scheme but includes national specificities like Croatia's unique "reference number" for payments. Building new financial infrastructure requires balancing global standards with local requirements; conforming to international norms while preserving national features makes future transitions, like adopting the Euro, far smoother.

Currently, only three banks (HPB, PBZ, Partner banka) are participants, though interest from others is "very high," and the central bank expects most to join within the next year. For national infrastructure, widespread adoption isn't just about the tech; it's about the central bank's active encouragement and the proven success of initial partners creating a network effect that pulls others in.

The system's alignment with European standards means Croatia will be able to easily transition to the Euro when the time comes. When building for the present, anticipating future macro-economic shifts by adopting compatible standards from the outset avoids costly re-engineering later.

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