Alfa Bank, Plug and Play collaborate on innovation in Fintech

Alfa Bank, Plug and Play collaborate on innovation in Fintech

Published: 30-09-2020 14:39:00 | By: Pie Kamau | hits: 5239 | Tags:

Along with 80 other financial institutions across the United StatesFrankfurtAmsterdamMilanParisAbu DhabiShanghaiSingapore, and Tokyo, Alfa Bank will join Plug and Play's global ecosystem, leveraging the platform to support its comprehensive digital transformation strategy in the field of fintech.

With this cooperation, Alfa Bank is expanding its contacts to fintech startups on a global scale. The bank has already created the best banking application in Russia, according to Markswebb. Alfa Bank is also developing "A New Generation Branch Network" with recognition based on biometrics and geolocation without refusing live communication with customers. This has allowed them to have a considerable startup network due to its fintech partnerships and continuous innovations.

Vladimir Verkhoshinsky, CEO of Alfa Bank said: ''This collaboration will enhance our network of partnerships in the fintech ecosystem. We have great expectations for the program in terms of scouting of innovative banking solutions for our customers.''

Saeed Amidi, CEO of Plug and Play said: ''We're thrilled to work with one of the most innovative financial institutions in Russia and expand the possibilities to our startups to do business and expand in new countries.''

Plug and Play is a global innovation platform that connects startups, corporations, and investors throughout the world. Its introduction means that both startups and partner corporations can thrive together through investments, pilots, acquisitions, and mutual growth. Plug and Play's network encompasses more than 30,000 startups in various disciplines worldwide, over 400 corporate partners, and a presence in more than 30 locations globally.

Fernando Zornig, Program Director at Plug and Play Frankfurt said: ''Alfa Bank will be a key factor to our sourcing efforts and is aligned internally to engage with startups from a business development and investment capacity. This will better serve Alfa Bank's clients and help them grow.''