“Fintech Hub” – a new platform for developing a sustainable Fintech ecosystem in Moldova

The last two years have seen an acceleration of the integration of IT solutions in the financial field, and e-commerce has become a priority for the development of our state’s economy – a market still dominated by cash payments. According to the National Bank of Moldova, of the total number of cards in circulation, only 2.2% are credit cards. Some potential solutions that would contribute to the progress of this industry are: investments in infrastructure development, improving technological skills, simplifying access to finance, along with simplified government regulations.

In order accelerate the fintech field and connect Moldova to the market, Tekwill launched the “Fintech Hub” project, supported by USAID and Sweden in partnership with the Academy of Economic Studies of Moldova. “Fintech Hub” is a platform that encourages creativity, digital technology, technological innovation and the growth of the ICT sector, by involving everyone
in this ecosystem.

This initiative aims at increasing cooperation between state institutions, such as the National Bank of Moldova, the Public Service Agency, the Ministry of Finance and the private sector represented by bank and companies that develop various fintech products.

Scott Hocklander, Head of the USAID Mission to Moldova: “The launch of the Fintech Hub is
a success of a lasting collaboration, and this hub is a model for others,
a place where representatives of academia, authorities, students, the private sector – all
they have the opportunity to come and try to change certain things in the financial field. USAID supports the Republic of Moldova in the development of digital skills
for the market, because we know how important the IT field is for The Republic of Moldova and the development of the country’s strategic sectors. We aim at bringing digitalization to other sectors, including the financial sector and we will continue to support Moldova in this way. “

Opportunities offered by Fintech Hub:
Built according to international standards, the hub has an area of ​​approximately
1000 square meters and is equipped with the necessary equipment and technologies: comfortable furniture, computers, servers, licensed software, and more. Students, teachers,
Entrepreneurs, or simply those interested in this field, are welcome in some areas specially arranged for the activities and events that will be held here:
 Coworking area
 Conference area
 Student Hub
 Cafe

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