Ukraine Initiative Aiming To Create Borderless Ecosystem Enters New Phase
Fintech without Frontiers (FWF) initiative today moves to a new phase of its mission to support Ukrainian fintech and talent, announcing a partnership with the leading financial associations of Ukraine.
FWF was launched to provide support to Ukrainian fintechs and talent affected by the war in Ukraine. Now it is extending the focus to help fuel the growth of the Ukrainian economy by enabling easier international collaboration between fintechs and talent whilst ensuring they are able to continue their work in the Ukrainian ecosystem.
To date, more than 25 global fintech players have joined FWF. Chris Skinner, author of a series of books on the future of fintech and the role of the financial sector in the world of the future, has also published a blog article about the initiative.
The Ukrainian Interbank Payment systems members association EMA, All-Ukrainian Association of Financial Companies and the Blockchain Association of Ukraine, have now partnered with FWF and will collaborate across borders to drive growth in Ukraine and contribute to the creation of a global fintech ecosystem.
Huw Davies, FWF founder and Co-founder & CCO at Ozone API, said: "Fintech aims to eliminate barriers and borders in terms of using financial products and help tackle challenges like financial inclusion. We now live and work in a way that is more internationally connected than ever. This international connectivity and remote working means Ukrainian fintech organisations and talent continue to drive growth, despite the impacts of the war.
“We’re excited that FWF has partnered with key Ukrainian fintech associations to create more opportunities for fintech talent and enable further collaboration. FWF will continue expanding the pool of global partners of this initiative, as well as inviting the Ukrainian financial and innovation community to partner and build bridges. We are pleased to welcome the EMA Payment Association, All-Ukrainian Association of Financial Companies and the Blockchain Association of Ukraine to our community. There is no doubt that our collaboration will bring even more added value to the development of Ukraine’s financial innovation market.”
Alexandr Karpov, director of the EMA Association, said: “Digital transformation and innovation development are always associated with the sharing of knowledge and best practices in the global market as well as finding the most appropriate way to adapt them to the needs of the local market. The EMA Association has always advocated the development of an open ecosystem in the Ukrainian financial market. Our partners are based in different countries and jurisdictions, and for us, the exchange of knowledge and building promising collaborations have always been a priority. In recent years, we have started a number of international initiatives that thrive when a global community comes together.
“Our involvement in the global fintech initiative, Fintech Without Frontiers, is very timely and will become an effective support for the financial industry on the path of revolutionary development and maturity.”
Nataliya Drik, President of Blockchain Association of Ukraine, said: “The DeFi market has never had borders, so the Fintech Without Frontiers initiative seems organic and timely to us. Today, in an unprecedentedly difficult time when the whole world is supporting Ukraine, we recognize the importance of creating a “united global fintech front” that will help Ukraine continue its progressive growth by creating new partnerships, products and initiatives.”
Alla Saviuk, president of the All-Ukrainian Association of Financial Companies, said: “Today, given the war, Ukraine needs the support of the global financial community, especially in terms of productive collaborations and knowledge sharing.
“We look forward to expanding the potential of the Ukrainian innovative financial sector through such initiatives, and are open to cooperation.”
