Technological development has led Moldovan Fintech startups to place technological innovation at the heart of their business. In order to promote the new industry and propel digital solutions directly in financial companies in our country, Startup Moldova with the support of general partners Moldova Agroindbank and Mastercard, but also USAID and Sweden partners launched within the TEKWILL project – “Vertical FinTech 2021”. We are talking about an extensive program that connects different actors in the industry and creates collaborations for the rise of innovations in the field of FinTech in Moldova.
Adam Amberg, Head of the Development Cooperation Section, Swedish Embassy: “Moldova’s IT industry has grown rapidly in recent years and has become one of the most dynamic and competitive sectors of the Moldovan economy. As part of supporting digital transformation and the Moldovan IT sector, Sweden supports the FinTech industry. We are convinced that Moldovan financial and IT startups and companies are crucial parts to bring benefits to the whole society. We believe that the sector will become stronger and that many well-paid jobs will be created, thus providing a more attractive future for young people in Moldova. ”
Brian Wittnebel, Deputy Director, USAID Moldova: “One of the areas with great potential for development in the Republic of Moldova is financial technology. This is because IT accelerates processes and changes paradigms, and startups and IT specialists can become more involved and contribute to the process of digitizing services in the financial-banking sphere. The FinTech 2021 vertical aims to help this sector collaborate and find connections, on the one hand, in detecting the problems faced by banking companies in the country and, on the other hand, in providing relevant IT solutions to change the way that these services are provided by companies. ”
The program brings several benefits, including the development of the local market, the growth of FinTech entrepreneurship, the attraction of new opportunities for financial resources and the increase of international competitiveness. It is designed to help startups develop innovative financial solutions focused on technology and accessibility.
Ana Chirita, Strategic Projects Director, ATIC: “FinTech represents a vertical perspective for TEKWILL. Although we tried to bring the community together several times, this year we managed to offer some concrete programs, such as the FinTech Accelerator, the FinTech Hackathon and a conference, planned for the fall. Moreover, we want the opening of a FinTech Hub in 2021 in another location in the city center, at ASEM, in order to develop and give a new breath to the industry. ”
Program participants were encouraged to access resources, create FinTech products, and present them. They were guided by experts, mentors and trackers to capitalize on their potential as effectively as possible and expand into both the local and international markets.
Tatiana Doroschevici, CEO Keen Payments: “Our startup is designed to connect customers with sellers. We help those who open an online store and want to receive payments from different cards. We implement this option much easier than Moldovan banks. We believe that accelerators are a huge help for those new to the field. Why? First of all, it offers a lot of information from mentors and trackers who guide you, teach you and help you put your idea into practice to get a final result ”.
Maxim Grosul, AutoPiata representative: “I believe that every startup must participate in the Fintech Accelerator, in order to learn many new things and work with trendy technologies. I specialize more on the technical side and I didn’t have much knowledge in marketing, business, clients, that’s why the mentors helped me build my business more efficiently and directed me in solving problems. “
Daniel Hangan, PayA representative: “The Fintech Accelerator has guided us in certain areas where we were not so experienced, it has given us access to experts and experienced people who can help us. At Accelerator the process happens much faster. I believe that more ideas and more experience give you more perspectives for business development. ”
“Vertical FinTech 2021” included a 2-day Hackathon in which 11 teams with the most practical ideas for the financial industry were selected. Subsequently, the teams participated in an Accelerator for the development and application of digital financial solutions. The most innovative solutions had the possibility to be integrated within Moldova Agroindbank. The program will end in the fall with a conference attended by experts, startups and all those associated with the financial industry.
The FinTech Moldova 2021 program is organized with the support of Moldova Agroindbank and Mastercard, by Startup Moldova, with the support of USAID and Sweden within the Tekwill project.