Monobank

On January 23, 2017, a group of former top managers of the nationalized “ PrivatBank ” founded the Fintech Band company, planning to provide IT services to Ukrainian and foreign banks ^{[3] [4]} .

The first partner of the Fintech Band was , a member of the TAC group and owned by Ukrainian businessman and politician Sergey Chernenko ^{[3] [5]} . The bank was launched in November 2017 when it launched the Monobank - Mobile Banking application ^[1] . From October 17 to November 22, the service worked in beta testing mode ^[6] .

At the beginning of its work, monobank faced an attempt by the National Bank of Ukraine to invalidate the identification of customers outside branches, which could lead to the closure of a new bank, whose concept provides for working with customers exclusively through a smartphone application. However, soon the regulator changed its position, recognizing the legal identification of customers outside the branches, subject to the personal presence of the client ^[7] .

About Bank

A joint project of the Fintech Band company and ^[8] , which is part of the TAS group and belongs to the Ukrainian oligarch and former deputy head of the Party of Regions Sergey Tigipko . ^[3]

Co-founders of the bank are Oleg Gorokhovsky, the former first deputy head of the PrivatBank board, head of the PrivatBank retail business, Dmitry Dubilet , the former IT director of PrivatBank (2010-2016), the son of Alexander Dubilet, Mikhail Rogalsky, the former head of the Payments and transfers at PrivatBank, Vadim Kovalev, former deputy head of the PrivatBank board, head of risk management at PrivatBank, Vladimir Yatsenko, the former first deputy head of the PrivatBank board, head of the corporate business of PrivatBank Shmalchenko Lyudmila, a former deputy head of "Privatbank" of government, the head of "PrivatBank" Treasury

The bank does not have branches, all services are carried out using the mobile application. Customers can become owners of Apple mobile devices on iOS 10 and Android version 4.4 and later. Initially, it was possible to deposit funds and withdraw them at the end of them at Universal Bank branches (it was also possible to deposit at the branches of Tusbank ), however, in July 2019, Universal Bank announced that it would close branches in several cities on September 1, 2019 ^[9] . From August 1, 2019, it will be possible to withdraw funds at Taskbank, and a little later - at A-Bank.

Cards of the international payment system MasterCard ^[10] and Visa ^{[11] are} issued. It is allowed to open an account in dollars and euros in the form of a virtual card, or with a plastic card.

In September 2018, the Monobank app made it possible to open deposits in foreign currency ( dollar , euro ). In January 2019, bank managers announced the opportunity to open virtual cards in the Monobank mobile application.

Transfers between monobank cards and payment for services at the expense of own money occur without a commission. If you transfer and withdraw credit, then a commission of 4% is charged. A distinctive feature of monobank is the fact that replenishment of a card using a card of any Ukrainian bank is free if carried out from the monobank application. But after monobank entered the market, some banks introduced fees for such transfers ^[12] .

Also available for customers cashback . Initially, the bank offered 3 categories to choose from, for which cashback will be credited in the current month. Cashback was charged both for purchases for their own and for purchases for credit funds. In the course of the subsequent analysis, as a result, the monobank management came to the conclusion that the most profitable option would be to leave an increased cashback only when paying for own funds. When paying with credit money, the cashback size is 1% for all selected categories in the current month ^[13] . Since June 2019, in addition to the usual cashback categories, it has become possible to separately select partner stores for which cashback will also be charged for purchases ^[14] .

Users receive answers to their questions on the social network Facebook and in the Viber and Telegram instant messengers.

In 2017, Monobank became the first in the nomination “The Best Ukrainian FinTech Startup” of the PaySpace Magazine Awards ^[15] .

On May 16, 2019, he received the FinAwards 2019 award in the “Best Deposit” category with a “12 months” deposit ^[16] . And also Monobank became the best in the nomination “People’s Bank” ^[17] .

• monobank.com.ua - official site of monobank
• Fintech Band official Facebook page
• monobank - all about companies. Addresses, telephones, website, v_dguuki klіntiv (Ukrainian) . Ministry of Finance.com.ua . Date of treatment June 27, 2018.
• Monobank card issuance card
• Monobank application review, currency deposits. Online edition advplus.com.ua
• Monobank Project News Monobank Unofficial Site
• Dmitry Dubilet page on Facebook