As part of the Visa Cashless Forum 2021, representatives of financial institutions and fintech discussed how the events of recent months have affected the market
Today, September 30, the Visa Cashless Forum 2021 is taking place online. The event traditionally brought together experts in the field of digital payments and innovation, representatives of financial institutions, fintech, merchant and service institutions, payment service providers and regulators. This year, the main focus of discussions is the impact of the coronavirus crisis on the activities of companies and the market as a whole.
According to Oleg Gorokhovsky, co-founder of monobank, the transition to new standards of work in connection with the pandemic was painless for non-banks. After all, for them the digital environment is natural.
As for the confrontation between traditional and digital banks, the winner, in the opinion of Oleg Gorokhovsky, who provides customers with access to products with one click of an icon.
In Ukraine, the banker expects the main opportunity - clear regulation regarding remote services.
Andrey Stepanenko, Member of the Board of Raiffeisen Bank International, spoke about the impact of COVID-19 on the bank's work. According to him, employees began to work even more efficiently remotely. And the bank itself has increased the number of clients in different markets. In general, in the context of the pandemic, Raiffeisenbank managed to transform retail services into digital.
Petr Krumkhanzl, Chairman of the Board of PrivatBank, during the discussion, said that the first half of 2020, despite the pandemic, became an opportunity to improve customer service. During this time, the number of active clients of PrivatBank individuals increased by 1.6 million. At the same time, the number of cash transactions decreased by 35% - this is a positive trend in the long term.
In turn, Vlad Yatsenko, co-founder of the British neobank Revolut, said that Revolut has changed its focus towards very simple products and solutions for investment management. This was facilitated by the quarantine time, when most of the clients spent a lot of time at home.
Today, September 30, the Visa Cashless Forum 2021 is taking place online. The event traditionally brought together experts in the field of digital payments and innovation, representatives of financial institutions, fintech, merchant and service institutions, payment service providers and regulators. This year, the main focus of discussions is the impact of the coronavirus crisis on the activities of companies and the market as a whole.
According to Oleg Gorokhovsky, co-founder of monobank, the transition to new standards of work in connection with the pandemic was painless for non-banks. After all, for them the digital environment is natural.
As for the confrontation between traditional and digital banks, the winner, in the opinion of Oleg Gorokhovsky, who provides customers with access to products with one click of an icon.
Also, the co-founder of the first mobile bank in Ukraine noted that, like all other years, 2020 is an opportunity for growth. The only question is how to approach the crisis.
In Ukraine, the banker expects the main opportunity - clear regulation regarding remote services.
Andrey Stepanenko, Member of the Board of Raiffeisen Bank International, spoke about the impact of COVID-19 on the bank's work. According to him, employees began to work even more efficiently remotely. And the bank itself has increased the number of clients in different markets. In general, in the context of the pandemic, Raiffeisenbank managed to transform retail services into digital.
Petr Krumkhanzl, Chairman of the Board of PrivatBank, during the discussion, said that the first half of 2020, despite the pandemic, became an opportunity to improve customer service. During this time, the number of active clients of PrivatBank individuals increased by 1.6 million. At the same time, the number of cash transactions decreased by 35% - this is a positive trend in the long term.
According to Peter, the existence of an effective digital channel helped PrivatBank survive the coronavirus crisis. And also the fact that the bank began to prepare for the quarantine earlier than other banks.
In turn, Vlad Yatsenko, co-founder of the British neobank Revolut, said that Revolut has changed its focus towards very simple products and solutions for investment management. This was facilitated by the quarantine time, when most of the clients spent a lot of time at home.
According to Vlad Yatsenko, Revolut has plans to expand its activities in the region of South-Eastern Europe, but “not at the top of the list”. Vera Platonova, senior vice president and general manager of Visa in CISSEE countries, noted during the discussion that many are looking forward to the entry of Revolut into this market.
