RB.RU, with the support of VTB, has published a new map of Russian fintechs. It has traditionally included companies that create technological products for personal finance management, as well as fintech solutions for companies and banks. This is the fourth project of this type in the publication.
VTB is a universal Russian bank of systemic importance, one of the leaders in the financial services market. The VTB Accelerator is a one-stop shop to find and test innovative technologies from the open market at VTB Bank. Currently there are 2.6 thousand startups in the VTB Accelerator database. During three years of work, more than 90 pilot projects have been implemented, more than 40 solutions are planned or have entered into commercial operation at the bank, which represents more than 30% and exceeds the market average.
RB.RU has been issuing cards for the Russian fintech market since 2016. The latest such project was launched together with VTB in December 2021 and became the largest compared to previous versions: more than 250 companies from 21 categories were then added to the map , as well as, for the first time, information on corporate accelerators for fintech. Opening.
Since the publication of the 2021 map, a lot has changed: Western sanctions and subsequent restrictions, as well as the departure of foreign companies from Russia, disrupted the usual course of things, players had to urgently reconsider their strategies and look for new ones. solutions. replace those that were not available.
As a result, the current difficulties, as expected, complicated the development of Russian fintech, but at the same time contributed to its growth: in 2022 it increased by 32.71% compared to 2021 and amounted to 138.88 billion rubles. The fintech market seems to be isolated, but at the same time players point out that it has development trends similar to those in the West.
It was important for us to reflect this when creating the new map. For example, this time we analyze companies working in the field of import substitution and the field of digital financial assets (on August 1, 2023, the law on the introduction of the digital ruble came into force in Russia, with its help the (The State also wants to solve the problem of cross-border transfers.) Trend areas such as BNPL (“buy now, pay later”) services, solutions for working with freelancers and payment services for B2C were also highlighted.
Overall, the map includes four major sections: “Personal Finance,” “Solutions for Businesses,” “Solutions for Banks,” and “Organizations Working with FinTech Startups.”
In “Personal Finance” we include accounting services, investment analysis and personal finance management, loyalty programs and cards, cashback and BNPL services and others.
“Business Solutions” include accounting and financial accounting services, neobanks, solutions for business work with freelancers and mass payments, solutions for receiving contactless tips, etc.
“Solutions for Banks” includes scoring solutions, identification and information security technologies, biometric solutions, specialized solutions for automation and digitalization, and gamification.
In total, about 300 companies were included in the map: this is the most detailed map of fintech players in Russia in the seven-year history of the project.
When selecting projects, we rely on the following criteria: product readiness is not lower than the MVP stage; the company’s activities must be carried out on the Russian market (there is a legal entity in Russia); Regular website and social media updates.
We remind you that the map is being updated, and if you want to suggest a project, write to us at [email protected].
Author:
Team RB
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
