You're unifying data from different countries into one single hub, we are standardising that, we are analysing the data and presenting it to a bank's over one single API. So for a bank, it doesn't matter if the customer is coming from Poland, Germany, Spain, Italy.

Typically banks have share of foreign customers 10% to 15%. Okay, 10 to 15% is good enough to care about, but the problem is that this 10% to 15% are not coming from one single country. They are coming from the twenty seven or even more since they outside of EU like the UK, Switzerland, etc.

So quite a long list of a country - this is a problem. And it's not feasible for one single bank. They will build the data pipelines and try to build the knowledge and standardise now it's just too expensive.

But in our case, it is okay, because if we are building this infrastructure, we can sell it to different banks, and each bank is paying their share. But of course, there are plenty of hurdles not only technology hurdle, various legal hurdles. Also we have European Union one same, same legal framework, as it said, there really is in the details. So in different countries, it's still a bit different than we are solving these hurdles.

We don't like to say it's a small country actually, and we just held the NATO summit in Vilnius in July, so we had a very nice ad: Lithuania is not a small country, it's a big country compacted to your convenience!

That's Lithuania. It's not a relatively small country: it's extremely compact. It's easy to reach, it's pretty much all in one place. It's great work life balance. And that's why Lithuania is feeling kind of Renaissance for re-immigration.

Well, the Lithuanian GDP, if compared to 2000 it has grown five times, if compared to 1995 it has grown 8.6 times. So it was really, really expanding.

February 24 2022, was, well, the date of a big change for Ukraine as a whole.

And for Neofin as a product, Neofin as a business, we were celebrating at the beginning of February 2022, we were celebrating becoming break even - on our own, being a fully self-funded business. On February 25 2022, we realised that we're nothing close to breakeven, because most of the customers at that time were Ukrainian financial institutions and Ukrainian banks.

On February 2024, we have received about 20 emails from our customers, saying that we're stopping our lending operations because nobody knew how long the world will last. Nobody knew how resilient the Ukrainian financial system is. After the war, I think that it's one of the most resilient financial systems, with all that it has survived, but at that time, nobody knew about that. So we just received about 20 emails from the key customers saying that they're closing their their lending operations, and they just stopped paying.

And we sat down with a team, we understood that we had a team that we were gathering all over Ukraine and all over the world, we have the little dev Centre in Kuala Lumpur, we have the little development hub in Germany, and Ukraine. These are all the financial talents that would definitely want to keep inside the company and been fully revenue funded, we would not be able to do that.

What happened was that, when we started providing the service, we guarantee the bad debts in the service. And that's why we start actively use different kinds of analytics to develop the different kinds of scoring systems. And these scoring systems will work very fast on the fly will make the scoring on the fly. We start from the basic one, and then we start to improve it till we now use machine learning for our scoring.

The technological approach for this task grows year by year.

In the first three days we provided over 700 credits in Azerbaijan with our first operator - we were not expecting such success.

The market changed completely.

Certainly the processing time for applications, whether it's cash loan mortgages is reduced significantly - I'm talking about Poland, but in fact, these are the processes that I'm seeing across Europe, it's pretty much the same way that everybody's taking but some countries it takes longer time than others to to do that - but the market is now undoubtly very heavily regulated by the Polish regulator and most of the sector is subject to supervision.

So we can speak about Victoriabank, but first of all, it's important to understand the level of the banking system in the scale in in Moldova, because, as I mentioned, it is a small country - in terms of square meters and also in population - the GDP is around E11.5 billion, GDP per capita is E4,400, average salary is about E450 per month, with unemployment rate of 3.5% and the inflation rate, the official inflation rate, at this moment of time, it's around 22%. And to understand the banking system, it's 51% of the total GDP in Moldova. To understand the scale of that, Victoriabank in Romania alone, which is the biggest bank in Romania, is bigger than the combined banks in Moldova - but the competition is very tight and this affects the margins very, very dramatically.

There are 11 banks in Moldova, too many for this population.

Now coming back to Victoriabank, in 2018 Victoriabank was the third largest bank in Moldova. We are always proud of our history and about the innovation which were brought into Moldova by Victoriabank, since the moment it was established as a bank.

Open banking essentially is allowing fintech companies to offer innovative products and services on top of the traditional banks. In many countries, the legislation has pushed open banking, and an example of this is the European Union where PSD2 is forcing banks to expose certain API's to fintechs that have the appropriate licence.

However, we seen this trend not only in Europe, but globally. Because of open banking, we're seeing the platformication in banking, which is similar to the one we witnessed in the lodging sector (with Airbnb), Booking.com, Expedia, etc. Consumers and businesses utilise the best products according to their needs from different banks, and they interact with them through FinTech companies that are offering a much better user experience. Some examples of fintech companies that are using open banking are companies offering account aggregation; personal and business finance management; payment initiation; buy now pay later solutions; and credit scoring applications.

So that was my focus point is, if you've got nothing, that's where we start… for existing clients, you can just go with the Chief Operating Officer to a branch, have your scoring, talk to the loan officers about the clients, they know them, right, you'd be surprised by how many they have but they know them by name, and test the scoring.