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Member Spotlight | Moneyveo: Key solutions driving leadership in Fintech
U.S.-Ukraine Business Council (USUBC)
Washington, D.C.
Tue, December 17, 2024
Founding Moneyveo in 2013 was like establishing a new airline route without a ready map of destinations. At that time, merging finance and IT in Ukraine was seen as innovative and, while full of potential, required significant adaptation to unpredictable circumstances. The risk taken by the founders paid off: for over a decade, the company has successfully navigated the market, weathering numerous crises alongside the country.
The launch took place during a tense period—amid the Revolution of Dignity—immediately raising the stakes for the challenges ahead. Each subsequent economic crisis, pandemic, and full-scale war became a test of the company's resilience. Time and again, Moneyveo demonstrated that business is not just about profit; it’s also about building trust, adapting to changing conditions, and implementing new ideas and technologies. “Success depends on a company's ability to adapt to evolving circumstances, implement innovative solutions, and, importantly, listen to and understand the needs of its customers. For example, when there’s a demand for a new product, we don’t simply impose what we already offer; instead, we focus on developing functionality tailored to client needs,” says Moneyveo CEO Serhii Sinchenko.
One of the company’s successful initiatives was the introduction of the Trend product during the war, aimed at addressing specific consumer needs.
Another important aspect of Moneyveo's business is its commitment to social responsibility. The "Hear with Heart" program has provided significant support to the company’s clients. Throughout its duration, it has implemented a variety of initiatives, including covering medical expenses for clients, purchasing clothing and gifts for their children, and assisting military families.
Moneyveo is also actively working to elevate ethical standards in the market, particularly in the area of debt collection. Not everyone may be aware, but Moneyveo’s approaches have laid the foundation for Ukraine's Law on "Consumer Credit."
It is important to note that Moneyveo's management approach has evolved significantly over the years. The company has shifted from a traditional functional structure to a process-oriented model, where each process is owned by an individual responsible for performance indicators. This transformation not only streamlines operations but also enhances team interactivity, allowing them to respond more effectively to customer needs.
Additionally, it is crucial to highlight the company’s commitment to implementing international security standards, such as PCI DSS, which ensures the security of financial transactions.
“Thanks to our ability to adapt, listen to our clients, and implement new ideas, we have achieved significant results and continue to move forward. We have no illusions about our achievements, but we are prepared for any challenges and opportunities,” concluded Serhii Sinchenko.