Ukrainians living abroad have long noticed the paradox that financial services at home are faster and more convenient than in old Europe. But at the B2B market level, the picture is different. European institutions still view Ukrainian players with caution. Our companies negotiate dozens of tenders, facing the conservatism of clients who haven't changed banks for decades, and bureaucracy that drags out decisions for months.
Today, the Ukrainian fintech market comprises 256 companies, half of which are already operating in international markets. Nearly 75% of projects have broken even. When Monobank twice makes CNBC's list of the world's top 250 fintechs, it's a signal that our business models are viable on a global scale.
Ukraine's integration into SEPA and the implementation of Open Banking are more than just a legal formality. They mean access to 520 million consumers and a reduction in payment costs by 85-90%. Financial borders are gone.
What's unique about them?
Speed as a strategy. While a European bank might spend years preparing to launch an app, NovaPay creates a full-fledged payment service from scratch in 8 months. This speed is a result of the absence of legacy infrastructure (outdated systems). We built digital solutions from the ground up, skipping the stages that currently slow down Western giants.
AI without further ado. While AI projects in Europe often remain in the pilot stage, 94% of Ukrainian fintechs are already using artificial intelligence in real-world processes: from credit scoring to security systems.
Products that address real pain points. We bring to Europe solutions that were considered too complex or risky there.
"Ukrainian fintech isn't just services; it's a culture of fast solutions." We don't copy Western models; we build new ones, bypassing decades of legacy problems, and transform technological flexibility into a key competitive advantage in the European market."
How Ukrainian solutions are changing business models in the EU
Here are just a few examples of how our players are transforming the familiar landscape:
NovaPay is introducing the COD (payment on delivery) service in Europe. EU logistics companies have long considered this ineffective, but the Ukrainian experience proves it;
IN1 blurs the line between crypto and fiat. A multicurrency card that seamlessly unites these worlds in a single interface is what makes digital assets part of everyday finance in 35 countries;
RozetkaPay is developing BNPL (Buy Now Pay Later) without being tied to specific banks. We're simplifying the process to the extreme: installment payments are available to any customer with any card. This is changing the logic of e-commerce.
"We're transforming complex financial processes into an invisible, yet effective, part of everyday life."
The launch of Open Banking in Ukraine is the start of competition without incentives. European experience shows that in a couple of years, the market could shrink by a third, leaving only those that deliver real value.
Ukrainian fintech is ready for this elimination game. We've learned to build complex products quickly, efficiently, and in a climate of complete uncertainty. Integration with SEPA gives us the tools for scaling, and our know-how gives Europe the speed of digitalization it lacks.
We're no longer a local phenomenon. We're exporting a culture of fast decisions. And judging by how our companies are received in international markets, this is only the beginning of a bigger story.
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Ukrainian Innovation
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Третій Гетьманат пропонує альтернативу «цифровому концтабору» та ліволіберальному хаосу. Дана праця призначена для стратегів, інвесторів, розробників та всіх Людей Волі, які розглядають Україну як...
Artem Lyashanov on Ukrainian fintech
Світ:
Ukrainians living abroad have long noticed the paradox that financial services at home are faster and more convenient than in old Europe. But at the B2B market level, the picture is different. European institutions still view Ukrainian players with caution. Our companies negotiate dozens of tenders, facing the conservatism of clients who haven't changed banks for decades, and bureaucracy that drags out decisions for months.
ukrayinskyyfinteh.jpg
Table of Contents
The Architecture of Ukrainian Innovation
Today, the Ukrainian fintech market comprises 256 companies, half of which are already operating in international markets. Nearly 75% of projects have broken even. When Monobank twice makes CNBC's list of the world's top 250 fintechs, it's a signal that our business models are viable on a global scale.
Ukraine's integration into SEPA and the implementation of Open Banking are more than just a legal formality. They mean access to 520 million consumers and a reduction in payment costs by 85-90%. Financial borders are gone.
What's unique about them?
How Ukrainian solutions are changing business models in the EU
Here are just a few examples of how our players are transforming the familiar landscape:
In his previous column, Artem Lyashanov analyzed why Ukrainian companies aren't simply expanding abroad, but are essentially relaunching established business models.
No Longer a Local Case
The launch of Open Banking in Ukraine is the start of competition without incentives. European experience shows that in a couple of years, the market could shrink by a third, leaving only those that deliver real value.
Ukrainian fintech is ready for this elimination game. We've learned to build complex products quickly, efficiently, and in a climate of complete uncertainty. Integration with SEPA gives us the tools for scaling, and our know-how gives Europe the speed of digitalization it lacks.
We're no longer a local phenomenon. We're exporting a culture of fast decisions. And judging by how our companies are received in international markets, this is only the beginning of a bigger story.
Ukrainian Innovation
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Біла книга «Третій ϟ Гетьманат»: Заснування держави без бюрократії та податків – архітектура, технологія, традиція (версія 1.0)