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Russian banks, Mastercard select 12 fintech startups for Fintech Lab programme

Tuesday 30 May 2017 | 01:42 PM CET

Five Russia-based banks and Mastercard have chosen 12 fintech startups for Fintech Lab’s acceleration programme.

The Fintech Lab acceleration programme is the result of a collaboration between five financial institutions: Ak Bars, VTB 24, Bank Saint Petersburg, Home Credit Bank and Absolut Bank, Mastercard and Fintech Lab.

The programme is designed to tighten business relations between fintech companies and larger financial institution. The goal is to create a common framework for developing banking and financial products as well as implementing solutions on the market.

The Fintech Lab initiative came into being in February 2017 and applications have started in March, 2017. FinCase, Insurion, Rubbles, Sweet card and uLime are among the selected fintech companies.

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