QIWI Launches SOVEST Multi-Bank Platform
QIWI plc - American Depositary Shares (QIWI)
Last qiwi plc - american depositary shares earnings: 3/24 07:15 am
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Source: GlobeNewswire
NICOSIA, Cyprus, Oct. 19, 2018 (GLOBE NEWSWIRE) -- QIWI plc (NASDAQ: QIWI) (MOEX: QIWI) (“QIWI” or the “Company”), today announced the launch of SOVEST multi-bank platform. SOVEST and AK Bars Bank, one of the top 20 Russian banks headquartered in Tatarstan, signed a partnership agreement in the course of the Annual Forum of Innovative Financial Technologies Finopolis 2018. Pursuant to this agreement, AK Bars Bank will become the first partner to join SOVEST multi-bank platform. SOVEST, the first pay-by-installment card project in Russia, was launched by QIWI Group in the end of 2016. Currently, SOVEST has an extensive partner network that includes more than 50 000 locations in online and offline in over 2 300 cities across Russia, a credit portfolio of RUB 5 billion and a distribution network capable of processing over 500 000 applications and issuing over 50 000 cards per month. Under the multi-banking model, SOVEST will become a technological partner, functioning as
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