KyivPost recognised Privat24 as the best Ukrainian mobile application

According to a survey of the well-known English-language newspaper KyivPost, Privat24 Internet bank was recognised as the best mobile application developed in Ukraine. PrivatBank received the award in the category “Best Ukrainian mobile application” during the KyivPost’s 20th anniversary celebration that was held on 19 September. The Top-5 best Ukrainian mobile applications were chosen by the independent voting of newspaper readers and IT-industry experts.

“Privat24 received the award because it is really the national Internet banking mobile application. PrivatBank is the leader among Ukrainian banks, and Privat24 is widely used by Ukrainians, with more than 3 million downloads. The mobile application makes life easier allowing you to find out currency exchange rates, top up a mobile phone, transfer money between accounts and many more functions”, – with these words the Kyiv Post team solemnly congratulated PrivatBank.

PrivatBank ranked as Ukraine’s largest financial sector taxpayer

During the first half of 2015 PrivatBank transferred to the Ukrainian state budget more than UAH 1.5 bln, which exceeds the total taxes paid by all other Ukrainian banks, including state banks.

According to the Ukrainian tax administration, in the first half of 2015 PrivatBank transferred UAH 1.516 bln of taxes and levies, and entered the Top-10 largest taxpayers in Ukraine. According to State Fiscal Service, by the results of the first half of 2015 PrivatBank became the absolute leader and the largest taxpayer in the banking sector. For comparison, the state bank “Oschadbank”, ranked 10th largest taxpayer among Ukrainian banks, contributed UAH 72.8 mln to the state in the period January-June 2015.

taxpayer

Corezoid cloud OS for digital core creation approved for sales on Amazon Marketplace

COREZOID2

Amazon Marketplace is hot. Cloud technologies are hot. The FinTech industry is vibrant. Banks are doing their best to survive, change, innovate and become technology companies. A huge battle is unfolding. Here’s a game-changing piece of news: Corezoid cloud OS that lets you create a digital core and start running your cloud-based back-end is now for sale on Amazon.

“The issue is that most of the banks have added new technology capabilities for access as channels on their old systems so the backend сore systems are last century. – says Chris Skinner, author of the “Digital Bank” bestseller. – The reason it’s not working anymore is customers to see the cracks in the wall, because banks have backend systems that are cracking and aching with legacy”.

Corezoid can fix that problem – it is a platform for building agile processes that are triggered by real-time events. Corezoid is a PaaS tool for creating IT solutions with the use of automata-based programming with explicit state selection. According to a Gartner report, by next year some 70% of the most profitable organizations will manage their business processes using real-time analytics and collaboration. Those that do not are risking missing the train.

“To provide the widest array of potential experiences, our underlying technology needs to become truly modular. We need the equivalent of Lego blocks supporting a wide array of designs simply and efficiently. To do this, software innovators need to decompose solutions down to the lowest common levels for the developers who rely on them.” – says Maxwell Wessel from Techcrunch Network.

Corezoid is exactly that kind of tool. And now it’s available for global access on Amazon Marketplace. Developers from all over the world can create their own digital core to run and control all the processes existing in the company. The Corezoid team has already set up processes for MasterCard, Western Union, Wargaming, Yandex, and NEXT. Corezoid’s biggest corporate client is PrivatBank (Ukraine) with 33,000 processes running in the cloud.

Corezoid grants visibility into all aspects of systems’ operations by providing real-time dashboards of business processes as they happen, 24×7. Business processes’ states are now explicit and visible vs. being hardcoded somewhere deep in the code. Systems to support business processes are now being assembled on-demand in an intuitive way to respond to business stakeholders instead of being hardwired once and for all. As legacy systems are being phased out and replaced, Corezoid helps to move processing to the cloud away from home-grown facilities.

In a few words, Corezoid is Tesla in the world of back-end IT systems. It’s a turnkey, plug-and-play solution for a digital core that fits any size of company in any industry.

Corezoid is a breakthrough, transformative technology. Real-time, holistic business process management is a departure from the traditional siloed model in which many leading vendors excel. Given the sizes of their existing codebase and the underpinning architectural assumptions, they are somewhat slow to embrace the new Big Process model. Corezoid has been created from scratch with real-time responsiveness, transparency and agility in mind, giving it the edge over more traditional systems. The traditional BPM vendors (Oracle, SAP, Effectiv, jBPM etc.) are big, pricy systems that are less likely to take into account the needs any particular customer.

On a global scale, the value of investment in financial technology ventures amounted to approximately three billion U.S. dollars in 2013 and was projected to grow to around eight billion U.S. dollars in 2018.

Corezoid is a company founded in 2014 and registered in the USA, with a developers office in Dnipropetrovsk (Ukraine). Its biggest private investor is PrivatBank (Ukraine). The Corezoid team gained worldwide traction after participating in Finovate Spring 2015(San Francisco), presenting at The Financial Services Club (London), and through publications in international media.

Corezoid’s pricing model on  Amazon Marketplace is agile. Clients pay only for the amount of resources they consume: USD 0.056/hr – USD 0.112/hr for Amazon hosting and USD 0.10/hr -USD 0.22/hr for Corezoid software.

“We made it possible for clients from all over the world to have easy access to Corezoid cloud OS based on Amazon’s ecosystem, that is acknowledged as trustworthy and reliable,” – says Oleksandr Vityaz, Corezoid founder.
Useful links
1. Corezoid White Paper.
2. Use-cases description.
3. Corezoid at Finovate Spring 2015 video.
4. Documentation.
5. Crunchbase profile.

Contacts
Oleksandr Vityaz, Corezoid founder, alexander.vityaz@gmail.com.
Sergii Danylenko, Corezoid Marketing director, sdanylenko@gmail.com, Skype serhiy.danylenko, LinkedIn.

Corezoid.com, a cloud operational system, developed with PrivatBank investment, to be presented at The Financial Services Club in London

Financial Service Club in London

Breakthrough Ukrainian IT-development – the cloud operational system Corezoid – will be presented at The Financial Services Club in London on Tuesday. Developers of the system, the main investor of which is PrivatBank, are going to show to representatives of foreign banks and companies how Corezoid can reduce costs for IT-solutions support and, most importantly, ensure rapid changes business processes.

“Curiously enough, the high level of IT-solutions’ penetration in business processes now hampers business development. Gartner reports that up to 80% of companies’ IT budgets are spent on IT infrastructure support rather than implementation of innovations” – says Sergii Danylenko, Corezoid Marketing Director. – “The main problem of modern companies is that changes in business processes take too long and are too expensive”.

The idea of a cloud operating system was born in PrivatBank, which is considered to be one of the most innovative banks in the world for a reason. While conventional banks solve their IT tasks by purchasing ready-made solutions, the implementation of which takes a long time and a lot of money, PrivatBank decided to go a completely other way. Oleksandr Vityaz, Deputy Chairman of the Board of PrivatBank and the chief ideologist of Corezoid commented: “We have been honestly trying to adapt products available on the market to our needs, but it was either long and expensive or too long and too expensive. As the result of these regrets, in 2005 the idea of a cloud operational system Corezoid (“zoid” means “life”) arose”.

Corezoid.com is a cloud operating system for companies’ business processes management. It allows users to build all business processes quickly based on a modern digital core. Such transfers need a minimum of developers and even ordinary managers without programming experience can support a new system and modify the business processes.

The Financial Services Club is an international community of top managers of banks, insurance companies, technology firms and consultancies that unites leaders of the sector around the most advanced developments and financial technologies. Hundreds of professionals interested in future of the financial industry take part in events of the organisation. The Financial Services Club holds over 50 events a year, in a number of different European countries, with keynote speakers and luminaries from the industry airing their views on the future of financial services.

PrivatBank introduced the world to the cloud OS corezoid.com

For 5 years in a row PrivatBank has visited Finovate, a leading financial technology conference. This time we unveiled our new innovation at FinovateSpring in San Jose (CA).

Sergii Danylenko, PrivatBank Marketing Director, together with his collegue Anatolyi Rogalskyi, presented to the world the corezoid.com service on 13 May, 2015.

PB cloud os

A major problem of modern companies is the high cost of changing their business processes both in temporal and financial terms.

According to a Gartner report, support for existing IT services has a higher priority than implementation of innovations. Now 60-80% of the companies’ IT budgets are spent on IT infrastructure support rather than on implementation of innovations.

Corezoid.com is a cloud operating system for companies’ business processes management. It solves this problem and allows users to build business processes quickly based on a modern digital core. Such transfer needs a minimum of developers and even ordinary managers without programming experience can support a new system and modify business processes.

pb cloud os 2

Hearing all features of Corezoid, the audience surrounded the team’s booth to learn more about the service. Corezoid team members even got caught with questions in the toilets! Speakers were surrounded by executives of PayPal, Hitachi, KPMG and other famous brands that really understand the pain of business process management in legacy systems.

During a networking session, the Corezoid team met with representatives of more than 150 companies, half of which are ready to try Corezoid themselves. We invite all who wish to start a pilot project with us (for free), which can work in parallel without interrupting company operations.

Here is a compilation of tweets made during the performances of the Corezoid team.

twitter capture1

Claudia Jones @corezoid

@aaronsuplizio PB

bankinnovationtweet

traceydunlaptweet

james hodges finovate
Most banks solve their IT tasks by purchasing ready-made solutions, the implementation of which takes a long time and a lot of money.

“We have been honestly trying to adapt to our needs products available on the market, – says Deputy Chairman of the Board of PrivatBank Oleksandr Vityaz, – but it was either long and expensive or too long and too expensive, and the cost of changes is always too high.”

As the result of these regrets, in 2005 the idea of a cloud operational system Corezoid (“zoid” means “life”) arose. It is the very first cloud operational system (COS) that is capable to implement and support any algorithms and business processes. While you are reading this text, 32,000 little corezoids operate easily in Privat24 and have already performed about 4 million logical operations.

Any questions about Corezoid? Write PrivatBank an e-mail!

PrivatBank launched selfie-authorisation

PrivatBank has launched a new technology in Ukraine for online verification of transactions by means of selfie or by entering PIN-code of a card. This method of customer verification via the Internet is used when the bank needs additional approval from a customer that this transaction is made actually by him/her (i.e. there are suspicions of fraud or there is a risky payment).

“Previously a customer had to contact the bank by phone to confirm a risky payment in case our security system requested an additional client’s verification,” – says Oleksander Sokolovskyi, Head of the Fraud Management Department. – “Now our Privat24 will ask a customer to confirm the payment with a selfie made with smart phones’ or PC camera or by entering the PIN-code of the card. It is convenient, especially if a customer is on vacation or abroad, fast and provides the particular security of the payments.”

Using selfie-verification the bank’s security system compares a received selfie with customer’s photos within the bank’s database. The system accurately distinguishes the real customer’s photos from fake ones. Also the huge popularity of selfies among users enables not only authenticating customers in a convenient and pleasant way for them, but also to hold selfie-contests among PrivatBank’s customers in the future, of course, with their consent.

Cloud operational system Corezoid.com goes to Finovate 2015 (USA)

Each self-respecting state dreams about its own operational system, as it is one of its national safety conditions.

At this, each bank has its own pain related to its activity support. This issue was voiced by the author of the bestseller “Digital Bank” Chris Skinner in the following words: “Everybody tries to make bank products more attractive on the outside while their technical unsides are full of rubbish.”

Most banks solve their IT tasks by purchasing ready-made solutions, the implementation of which takes a long time and a lot of money.

“We have been honestly trying to adapt to our needs products available on the market, – says Deputy Chairman of the Board of PrivatBank Oleksandr Vityaz, – but it was either long and expensive or too long and too expensive, and the cost of changes is always too high.”

As the result of these regrets, in 2005 the idea of a cloud operational system Corezoid (“zoid” means “life”) arose. It is the very first cloud operational system (COS) that is capable to implement and support any algorithms and business processes. While you are reading this text, 32,000 little corezoids operate easily in Privat24 and have already performed about 4 million logical operations.

When we showed Corezoid to Chris Skinner, international expert on bank innovations, who was giving a lecture in our bank, he exclaimed: “You have boosted the limits of banking! This is just what I was describing in my book but I wasn’t sure if I would see anything like that in operation.” This was a boost towards opening the product to everyone – from universities to banks.

We shall be pleased to introduce the cloud operational system Corezoid at Finovate 2015 in the heart of Silicon Valley.

So, here comes corezoid.com, the new generation COS!