Working Papers
Belarusian Fintech Ecosystem 2021
The first extensive research of the Belarusian fintech system was conducted by CIVITTA and VISA with participation of BEROC experts.
New products appeared on financial market as a result of digitalization. Such products are developed by banks and other financial institutions as well as by startups and non-financial organizations. Digital financial services, successful fintech companies and startups in this area are indispensable for the financial sector's competitiveness.
The report provides analysis of the Belarusian fintech market and presents the main elements of the fintech system, directions and trends. The research is based on open source databases, series of interviews with fintech ecosystem participants and surveys of fintech companies and startups.
Researchers analyzed fintech players, including their main activities, markets, etc. The research also shows successful Belarusian cases in the fintech area and examples of cooperation between fintech-companies and traditional banks.