OREANDA-NEWS. PrivatBank has presented its new Corezoid Process Engine technology at the Finovate Spring conference in San Jose, USA. This technology allows banks and financial companies all over the globe to run digital services with already existing or easy-to-design processes using tens of thousands of APIs from the FinTech world.

The Corezoid Process Engine cloud technology, developed in Ukrainian PrivatBank, will help financial institutions across the world to launch P2P-processes, Internet banks and mobile banking applications using tens of thousands of APIs from the FinTech world without excessive expenses of time and money. This brand new solution for banks does not depend on any programming language; it can be easily scaled, copied and changed.

“There are over 30 thousand banks on the planet. Programmers in these banks do the same job, creating 30 thousand similar Internet banks, P2P-services and mobile banking applications, - says Sergii Danilenko, Corezoid Chief Marketing Officer. – Today, in partnership with Visa and MasterCard, we are transforming Internet banking into a standard product, like plastic cards. After all, banks don’t invent plastic cards every time; they take and sell ready-made ones.”

By using Corezoid Process Engine any bank in the world can utilize a ready-to-use process or create its own P2P product with Visa or MasterCard APIs via Corezoid - all the bank has to do is to connect the front-end (website, mobile application) and make adjustments for local AML and compliance regulations. The final product can be launched as fast as you want.

Western Union in collaboration with PrivatBank has already launched a service of online remittances in Ukraine based on the Corezoid platform. Corezoid’s “digital core” allowed to integrate dozens of Western Union and PrivatBank APIs. Now these processes can be easily copied from anywhere in the world, requiring only necessary local settings.

Finovate is a conference devoted to cutting-edge achievements in financial and banking technologies from world-famous leaders and promising young companies. PrivatBank’s team also presented Corezoid at Finovate in autumn 2015. PrivatBank also took part in FinovateFall 2014 in New York, where it presented its functional messenger Sender and visited FinovateSpring 2014 presenting its topless-ATM.