18.12.2025
UAFIN.TECH 2025 Highlights: The Future of Embedded Finance
On December 12, UAFIN.TECH took place in Kyiv — the annual conference recognized as Ukraine’s flagship fintech event. This year, the Ukrainian Association of Fintech and Innovation Companies (UAFIC) brought together leading industry experts to discuss how embedded finance technologies are transforming business models, e-commerce, mobile applications, logistics services, and creating a new level of customer experience.
The conference gathered 400+ offline participants and 50+ speakers across more than 9 hours of active dialogue among representatives from the banking sector, fintech ecosystem, technology companies, startups, regulatory authorities, and international experts. Among the top speakers were representatives from IFC, World Bank Group: Zarina Odinaeva, Ismail Chaib, Margriet Nzuki; Andriy Poddyerogin (NBU); representatives from Mastercard: Anzhela Kashperuk, Vadym Polishchuk, Andrii Kostenko; Emmanuel Papadacci-Stephanopoli, Vice-President Fintech Observatory; Ludmila Andreeva (DG Fisma); Peter Penzes (National Bank of Slovakia), and many others.
The opening remarks were delivered by Lisa Kaestner, Head of IFC Ukraine, World Bank Group. She highlighted the resilience of the Ukrainian financial sector and thanked the conference participants — representatives of institutions, organizations, and banks — for ensuring the stability of financial services in Ukraine.
"The main reason IFC supports this event is the importance of expanding access to finance for an even larger share of the Ukrainian population. We know that digital finance is one of the key tools for this. Here, we can explore how financial services can be integrated into other services, such as online commerce or transportation, so that even more businesses and people gain access to finance."
The welcoming remarks were also joined by Anatoliy Ostapenko, Chairman of the Subcommittee on Social Protection of Veterans' Rights, Committee of the Verkhovna Rada of Ukraine on Social Policy and Protection of Veterans' Rights, and Anzhela Kashperuk, Vice President of Business Development, Mastercard in Ukraine and Moldova.
Embedded Finance – a Path to Resilience and Victory
"Fintech has become the bridge that, through embedded finance, connects business, the state, and society, allowing growth even under the most challenging conditions, despite war, uncertainty, and ongoing challenges. Embedded finance today is not a trend but an infrastructure of resilience that supports the economy, business scaling, and rapid access to financial services. Digital finance has a real impact: it has become the foundation for operational support of the Armed Forces of Ukraine, volunteer and humanitarian initiatives, enabling fast payments, online fundraising, and transparent financial mechanisms.
This is why fintech development today is not just about innovation, but also about the country's ability to endure, act, and succeed", — stated Rostyslav Dyuk, Chairman of the Board of the Ukrainian Association of Fintech and Innovation Companies.
Embedded Finance — Trend or New Reality?
Embedded finance is not just a new trend; it is one of the fundamental shifts in the financial market, already reshaping the competitive landscape and the rules of the game for business. Financial services are moving beyond banks and financial institutions and becoming a natural part of the products, platforms, and digital ecosystems people use daily.
"Today, Ukraine is undergoing rapid digital transformation. In the payments market, more than 60% of Mastercard card payments in physical retail are made via NFC-enabled smartphones, and every sixth Mastercard payment is online in e-commerce. For Ukrainian consumers, embedded finance is an organic extension of their digital choices and adaptability to new technological solutions. Integrating financial products into non-financial platforms and services via APIs enables the creation of a seamless experience and more comprehensive product for users. According to research, 47% of non-bank online and e-commerce players plan to integrate embedded finance into their platforms. Mastercard supports the development of embedded finance by offering comprehensive solutions for banks, service providers, and merchants — from payment acceptance and loyalty programs to risk management, fraud prevention, and cybersecurity solutions," — said Anzhela Kashperuk, Vice President of Business Development, Mastercard in Ukraine and Moldova.
This model changes the very logic of financial interactions: payments, loans, insurance, or financing become “invisible,” simple, and accessible exactly when needed. For companies, this means new revenue streams, deeper customer insights, and a rethinking of competition — now entire ecosystems and partnerships compete, not individual products.
According to market analysts, the global embedded finance market is expected to grow by an average of 33% annually until 2030. This was highlighted by Vadym Polishchuk, Vice President of Business Development, Mastercard Services in Ukraine and Moldova, during his speech.
He noted that the shift of financial services to non-financial platforms is driven by competition among banks, Big Tech, and e-commerce to become the primary point of interaction with clients, who demand highly personalized and seamless experiences. The development of open banking and agent-based AI accelerates this transformation, opening additional opportunities for fintechs and neobanks to create innovative and breakthrough solutions.
Embedded finance is one of the fundamental market shifts that will reshape the competitive landscape and the way we interact with financial services. It is a major systemic transformation happening before our eyes.
Investments in Financial Service Infrastructure: Risk or Success
During the panel discussion Future of Finance, a key topic was the need for systemic investments in financial service infrastructure as the foundation for long-term market competitiveness. Participants emphasized that recent years’ experience has significantly changed mass-market client behavior: consumers are becoming less price-sensitive and increasingly demanding in terms of service quality.
"It is necessary to increase investments in infrastructure. The experience of recent years shows that mass-market clients are less price-elastic — that is, service quality, seamlessness, and resilience take precedence over price. Therefore, we see a need for investment to maintain and grow market positions," — Volodymyr Ponomarov, First Deputy Chairman of the Management Board, Ukrgasbank.
However, the main point was not one-sided. Zarina Odinaeva, Program Lead, IFC, World Bank Group, noted: "In partnership models, dependence on core infrastructure provided by a single key participant is one of the main risks we observe in the markets, and Ukrainian participants should take this into account."
Infrastructure maturity enables rapid product launches, partner integration, and meeting client expectations, where financial services must be simple, reliable, and nearly invisible.
Serhii Makarenko, Head of Trade Solutions at PrivatBank, summarized: "We started working with the embedded finance concept back in the 2010s — solutions like installment payments and other services have long been organically embedded in partner business processes. Today, we go further: we rethink existing processes that partners already use as embedded finance and create new ones. Our focus is to show how these solutions can generate additional value, enhance operational efficiency, and improve partner business outcomes."
The conference was supported by IFC, World Bank Group in partnership with the Swiss State Secretariat for Economic Affairs (SECO). The general partner of UAFIN.TECH 2025 was Mastercard, official partner — fintech company Activitis, fintech partner — NovaPay, innovative fintech partner — Moneyveo. Strategic partners included Done and MBKI, security partner — SHERIFF, art partner — Vivid Fusion, ecosystem partner — DowithUA. The general media partner was Kyiv Post.
Media support was provided by Fintech Insider, Scroll Media, Kyiv IT Cluster, SPEKA, Marketer, KOSHT Media, and ua.news, with informational partners including NABU, MTSBU, kyivmaps, and Kharkiv IT Cluster.
UAFIN.TECH 2025 confirmed its status as the key fintech event of the year, becoming a platform for in-depth discussions on the Future of Embedded Finance. The conference brought together banks, fintechs, regulators, IT companies, and international experts around practical cases, strategic partnerships, and real business solutions.
Focus: embedded finance as a driver of new monetization models, customer experience, and the resilience of Ukraine’s financial system. The main takeaway: the future of finance is seamless, partnership-driven, and built on trust, technology, and data.
The opening remarks were delivered by Lisa Kaestner, Head of IFC Ukraine, World Bank Group. She highlighted the resilience of the Ukrainian financial sector and thanked the conference participants — representatives of institutions, organizations, and banks — for ensuring the stability of financial services in Ukraine.
"The main reason IFC supports this event is the importance of expanding access to finance for an even larger share of the Ukrainian population. We know that digital finance is one of the key tools for this. Here, we can explore how financial services can be integrated into other services, such as online commerce or transportation, so that even more businesses and people gain access to finance."
The welcoming remarks were also joined by Anatoliy Ostapenko, Chairman of the Subcommittee on Social Protection of Veterans' Rights, Committee of the Verkhovna Rada of Ukraine on Social Policy and Protection of Veterans' Rights, and Anzhela Kashperuk, Vice President of Business Development, Mastercard in Ukraine and Moldova.
Embedded Finance – a Path to Resilience and Victory
"Fintech has become the bridge that, through embedded finance, connects business, the state, and society, allowing growth even under the most challenging conditions, despite war, uncertainty, and ongoing challenges. Embedded finance today is not a trend but an infrastructure of resilience that supports the economy, business scaling, and rapid access to financial services. Digital finance has a real impact: it has become the foundation for operational support of the Armed Forces of Ukraine, volunteer and humanitarian initiatives, enabling fast payments, online fundraising, and transparent financial mechanisms.
This is why fintech development today is not just about innovation, but also about the country's ability to endure, act, and succeed", — stated Rostyslav Dyuk, Chairman of the Board of the Ukrainian Association of Fintech and Innovation Companies.
Embedded Finance — Trend or New Reality?
Embedded finance is not just a new trend; it is one of the fundamental shifts in the financial market, already reshaping the competitive landscape and the rules of the game for business. Financial services are moving beyond banks and financial institutions and becoming a natural part of the products, platforms, and digital ecosystems people use daily.
"Today, Ukraine is undergoing rapid digital transformation. In the payments market, more than 60% of Mastercard card payments in physical retail are made via NFC-enabled smartphones, and every sixth Mastercard payment is online in e-commerce. For Ukrainian consumers, embedded finance is an organic extension of their digital choices and adaptability to new technological solutions. Integrating financial products into non-financial platforms and services via APIs enables the creation of a seamless experience and more comprehensive product for users. According to research, 47% of non-bank online and e-commerce players plan to integrate embedded finance into their platforms. Mastercard supports the development of embedded finance by offering comprehensive solutions for banks, service providers, and merchants — from payment acceptance and loyalty programs to risk management, fraud prevention, and cybersecurity solutions," — said Anzhela Kashperuk, Vice President of Business Development, Mastercard in Ukraine and Moldova.
This model changes the very logic of financial interactions: payments, loans, insurance, or financing become “invisible,” simple, and accessible exactly when needed. For companies, this means new revenue streams, deeper customer insights, and a rethinking of competition — now entire ecosystems and partnerships compete, not individual products.
According to market analysts, the global embedded finance market is expected to grow by an average of 33% annually until 2030. This was highlighted by Vadym Polishchuk, Vice President of Business Development, Mastercard Services in Ukraine and Moldova, during his speech.
He noted that the shift of financial services to non-financial platforms is driven by competition among banks, Big Tech, and e-commerce to become the primary point of interaction with clients, who demand highly personalized and seamless experiences. The development of open banking and agent-based AI accelerates this transformation, opening additional opportunities for fintechs and neobanks to create innovative and breakthrough solutions.
Embedded finance is one of the fundamental market shifts that will reshape the competitive landscape and the way we interact with financial services. It is a major systemic transformation happening before our eyes.
Investments in Financial Service Infrastructure: Risk or Success
During the panel discussion Future of Finance, a key topic was the need for systemic investments in financial service infrastructure as the foundation for long-term market competitiveness. Participants emphasized that recent years’ experience has significantly changed mass-market client behavior: consumers are becoming less price-sensitive and increasingly demanding in terms of service quality.
"It is necessary to increase investments in infrastructure. The experience of recent years shows that mass-market clients are less price-elastic — that is, service quality, seamlessness, and resilience take precedence over price. Therefore, we see a need for investment to maintain and grow market positions," — Volodymyr Ponomarov, First Deputy Chairman of the Management Board, Ukrgasbank.
However, the main point was not one-sided. Zarina Odinaeva, Program Lead, IFC, World Bank Group, noted: "In partnership models, dependence on core infrastructure provided by a single key participant is one of the main risks we observe in the markets, and Ukrainian participants should take this into account."
Infrastructure maturity enables rapid product launches, partner integration, and meeting client expectations, where financial services must be simple, reliable, and nearly invisible.
Serhii Makarenko, Head of Trade Solutions at PrivatBank, summarized: "We started working with the embedded finance concept back in the 2010s — solutions like installment payments and other services have long been organically embedded in partner business processes. Today, we go further: we rethink existing processes that partners already use as embedded finance and create new ones. Our focus is to show how these solutions can generate additional value, enhance operational efficiency, and improve partner business outcomes."
The conference was supported by IFC, World Bank Group in partnership with the Swiss State Secretariat for Economic Affairs (SECO). The general partner of UAFIN.TECH 2025 was Mastercard, official partner — fintech company Activitis, fintech partner — NovaPay, innovative fintech partner — Moneyveo. Strategic partners included Done and MBKI, security partner — SHERIFF, art partner — Vivid Fusion, ecosystem partner — DowithUA. The general media partner was Kyiv Post.
Media support was provided by Fintech Insider, Scroll Media, Kyiv IT Cluster, SPEKA, Marketer, KOSHT Media, and ua.news, with informational partners including NABU, MTSBU, kyivmaps, and Kharkiv IT Cluster.
UAFIN.TECH 2025 confirmed its status as the key fintech event of the year, becoming a platform for in-depth discussions on the Future of Embedded Finance. The conference brought together banks, fintechs, regulators, IT companies, and international experts around practical cases, strategic partnerships, and real business solutions.
Focus: embedded finance as a driver of new monetization models, customer experience, and the resilience of Ukraine’s financial system. The main takeaway: the future of finance is seamless, partnership-driven, and built on trust, technology, and data.
Підпишіться на нашу розсилку
та отримуйте останні новини, свіжі інсайти та спеціальні пропозиції двічі на місяць