Business news from Ukraine


10 October , 2019  

Sportbank, a joint project of the mobile bank of Dyvotech IT company and the N1 management company for sports enthusiasts, launched in October this year, could increase the number of customers in three years to 1.5 million, which corresponds to a 10% share in the credit card market, Dyvotech co-founder Denys Saprykin told Interfax-Ukraine on Wednesday.
“Our main product will be a credit card. In the first year from the start of the project, we plan to attract 100,000 active users, and in three years – 1.5 million, which will allow Sportbank to grow to 10% of the Ukrainian credit card market,” he said.
According to him, a beta version of the project is currently running. The project provides for the issuance of a payment card with a 10% cashback on expenses in sports facilities and its delivery to the client by courier. In the future, Sportbank plans to offer customers credit cards, deposit programs, utility bills settlement through a mobile application, and in the future – foreign currency cards, foreign currency deposits, and the functionality for buying and selling foreign currency through a mobile application.
According to Saprykin, in the Sportbank mobile application it will soon be possible to also pay for goods for sports.
Nick Izmaylov, founder and CEO of N1 Management Company, told Interfax-Ukraine that investment in Sportbank amounted to $1 million.
Izmaylov also said that the possibility of a Sportbank project entering the market of Belarus, Kazakhstan, and Moldova with the participation of local partners is being considered in the medium term outlook.