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Ukrainian bank to present two Fintech projects in Silicon Valley

Fintech development is a hot button topic for both investors and tech startups. The number of Fintech companies in Ukraine is increasing: in 2018 the market saw 21 new startups emerge. All in all, today there are over 100 Fintech companies in Ukraine, over half of which have been established in the past three years. Concord bank is going to present its 2 products in Silicon Valley.



This picture show a group of worker during a meeting.

In February 2020, Ukrainian Concord bank will present two of its products – ProCard and ConcordPay – in Silicon Valley. Chairman of the Board of Concord Bank Yuriy Zadoya informed the Interfax-Ukraine agency about preparations for the event. According to him, the presentation of the two products will take place within the framework of the world’s largest startup event Startup Grind Global-2020.

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Cooperation in Fintech field

“At Startup Grind Global-2020 we are not looking for investments, but for new international partners to develop cooperation in the field of Fintech. That is why we take part in this conference as a partner of the event organizers – Startup Grind, not as applicants. We have excellent, working products – our own processing center ProCard and payment service ConcordPay, which we will present during Startup Grind Global-2020. With technology becoming more important than money, we are interested in developing partnerships with large companies. Moreover, we have experience of good cooperation both with the world payment systems VISA, MasterCard, and the largest PSP companies,” commented Yuri Zadoya.

The bank believes that Ukrainian Fintech has something to offer to the world leaders of the industry and its a chance to participate in different formats in events held in Silicon Valley.

Concord Bank as a regular IT holder

Concord Bank team regularly holds events and meetings for the Ukrainian IT community. In particular, in November, a teleconference organized by the bank was held for participants of the ITEM industry conference, during which Ukrainian participants communicated with representatives of Silicon Valley Nikita Safronenko (Co-founder & COO Unicorn Lab) and Sergey Sema (Software Engineer at Google). Following their stay in Silicon Valley at Startup Grind in February, the bank team promises to share news and observations.

Startup Grind is the world’s largest independent start-up community bringing together more than 2 million entrepreneurs and is developing startup ecosystems in more than 125 countries, including through partnerships with organizations such as Google for Startups.

Startup Grind Global 2020 is the most important event for start-ups, technology leaders and major brands at the forefront of innovation. Each year, the event gathers 10,000 people in Silicon Valley who spend two days continuously learning, communicating and looking for partners to develop their startups and find investment targets through hundreds of sessions, networking, and other social events. In 2020, the conference will be held on February 11-12.

ConcordPay is a payment service developed by Concord bank taking into account the needs of online business owners, and designed to maximize the convenience of making payments through the site. Concord Rau provides an opportunity for customers on the site to pay for their purchases using classic VISA or MasterCard, Apple Pay or MasterPass, including FaceID or TouchID, through invoicing and even through regular monthly payments.

ProCard – the most innovative Fintech in Ukraine

ProCard – is  Concord bank’s own processing center, recently launched, making it one of the most modern and innovative in Ukraine. It is the first processing center in all Europe and CIS countries, which together with international payment systems has developed and implemented a modern and more reliable level 2.0 protocol.

Concord bank is developing as a technology bank. Since 2015, the bank has created and offered the market a number of iconic products and was the first among small and medium-sized banks in Ukraine to receive principal membership of MasterCard and Visa International.

On December 20, the Ministry of Digital Infrastructure of Ukraine announced the results of a competition to select Ukrainian technology start-ups, which was held jointly with Startup Grind Kyiv (official representative of Startup Grind) with the support of the U.S. Agency for International Development (USAID) program “Competitive Economy of Ukraine. As a result of the contest, 15 startups were selected to represent Ukraine at the 10th Startup Grind Global 2020 Entrepreneurs and Investors Conference in Silicon Valley.


(Featured image by StartupStockPhotos via Pixabay)

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First published in интерфакс-УКРАИНА, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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Olivia McCall is passionate about education, women and children’s rights, and the environment. A long-time investor, she covers news about the latest stocks (lately marijuana and tech), IPOs and indices, and is always on the lookout for socially responsible startups. She also writes about the food sector, and has a keen interest on cryptocurrencies.