PrivatBank presents Corezoid to leading global financial institutions in San Francisco

Innovation by Ukraine’s leading bank setting the industry trend for the coming years

Ukrainian cloud operating system (OS) Corezoid will take part in the FinDevr annual financial conference in San Francisco. Developers of the system are going to present it to leading global banks and technology corporations, including Barclays, JP Morgan Chase, WellsFargo, Western Union, Intel, Sony and many others. During the event, Ukrainians are planning to introduce participants to Corezoid functionality, which allows any company to make a breakthrough in the digital world.

“We are pleased to see a Ukrainian company among our participants and we hope that you will manage to achieve all your goals”, – says David Penn, one of the organisers of FinDevr.

Corezoid is a cloud OS developed by PrivatBank E-Business Center under the direction of Oleksandr Vityaz. It allows anyone to create their own “digital core”, which can be used in various areas: finance, IT, manufacturing, agriculture, education, health care, construction, telecommunications, trade, logistics, science, public administration, public services, etc. The key advantages of the system are: the opportunity to move to Corezoid with minimal involvement of developers and support of business-processes without the need for programming skills. Corezoid has been available on Amazon Marketplace since August 2015. Now this system is used in Privat24 Internet bank.

“We made every effort to adapt existing market solutions to our needs but it was either a long and expensive process or a very long and very expensive process! The cost of making changes to our systems was always too high,” explains Oleksandr Vityaz, Deputy Chairman of the Board of PrivatBank.

As a result of these issues, the idea of cloud OS Corezoid emerged in 2005. Thanks to its implementation, the bank replaced most Privat24 developers with business-analysts and shifted key programmers to other projects. Also, Corezoid allowed to reduce the quantity of software code by several multiples.

The system was shown for the first time internationally at the Finovate conference in May 2015. Since then, Corezoid has received many positive reviews including one from Chris Skinner, a worldwide expert in banking innovations.

“You have gone beyond banking! It’s exactly what I wrote in my book, but I was not sure if I would ever see something like this in action,” said Chris after becoming acquainted with Corezoid’s capabilities.