VisionFund International enters the Ukrainian market with a custom FinTech solution from Yalantis

  • Industry

    FinTech

  • Country

    USA, launching in Ukraine

  • Team size

    6 specialists

  • Collaboration

    12 months & ongoing

About the client

VisionFund Ukraine is the microfinance subsidiary of World Vision International, one of the largest global humanitarian organisations. The company’s primary aim is to support economic recovery and development through financing small and medium enterprises.

In Ukraine, VisionFund provides credit for entrepreneurs to expand their businesses in the fields of farming, retail, or crafts, as well as to facilitate the economic recovery of Ukrainian businesses affected by war.

VisionFund

Business context and challenges

Initially, the client wanted to rely on vendors to get an out-of-the-box solution.
They approached Yalantis with a request for a PMP-certified project manager on the Ukrainian market to help them develop business processes for credit management that align with Ukrainian FinTech-market specific and financial laws and regulations.

However, VisionFund’s business expansion brought some challenges:

  • No previously established management processes within the VisionFund Ukraine team
  • Entering the Ukrainian credit market as a greenfield investment and no operational experience in it
  • Complex integration process with various finance and government platforms, as well as the global VisionFund internal systems

These challenges created a need to build a tailored FinTech solution from scratch, which would help to streamline the process efficiently and feature the necessary integrations for a smooth operation.

Establishing the project roadmap

  • The Yalantis team started working on structuring the product development process flow, which consisted of the following stages:

    • Interviewing the stakeholders and gathering requirements
    • Outlining product features that need to be implemented first
    • Developing and documenting the workflow for the credit management process
    • Creating a platform blueprint with all the main components and features
    • Estimating the project costs
    • Starting the development process

    — “I appreciate how ready the Yalantis team is to propose various solutions and approaches that line up with our values and mission. They helped us to develop a product that resonates with the reality of digital presence in Ukraine, and their ideas paved the way for a secure and transparent process & product worthy to be included in the Ukrainian FinTech sector.”

    — Wesley Jordan, CEO of VisionFund Ukraine

Solution design

  • #1 Prioritizing and selecting features

    Yalantis’ business analyst and solution architect categorized platform features based on two main groups of clients:

    • individual entrepreneurs (ФОП)
    • legal entities (ТОВ)

    Individual entrepreneurs were the main product focus for VisionFund, so the platform’s core functionality for this group was developed and implemented first.

     

    #2 Outlining business processes

    Since the VisionFund team creating a new, all-digital process for the Ukrainian markte,, Yalantis developers and business analysts handled the job of creating a detailed workflow for credit management activities. The flow included application processing, applicant scoring, decision-making, and repayment management. All steps were thoroughly documented to ensure clarity and alignment.

     

    #3 Managing integration

    Ensuring the VisionFund Ukraine platform integration with numerous financial, banking, and legal organizations in Ukraine, as well as connecting it to VisionFund International, was the most complicated stage of the development process.

    With the help of financial monitoring institutions, as well as accountants, legal, and credit management specialists, the Yalantis team has integrated VisionFund Ukraine with:

    • BankID — personal identification service approved by the National Bank of Ukraine
    • Vchasno — a cloud document management system and e-signature service
    • YouControl — business monitoring and risk analysis platform for companies and individual entrepreneurs
    • Ukrainian bureau of credit histories (UBKI) — a platform for credit history and score monitoring
    • AlphaOmega Product — portfolio management system and financial reporting
    • Contentfull — a CMS platform for managing the VisionFund Ukraine website and landing pages
    • SunSystem and BankBI — VisionFund International internal data management systems

    #4 Addressing future growth

    In December 2024, VisionFund Ukraine was licensed by the National Bank of Ukraine to operate as a non-banking financial institution. By obtaining this licence, the company received the right to provide funds on credit.

    The collaboration between Yalantis and VisionFund Ukraine continues, and we’re planning to hit big milestones in the future, such as:

    • extending the platform functionality to cover legal entities
    • adding more products in the future, such as insurance and grants
    • potential adoption of AI-driven functionality to improve digital onboarding, automation of KYC requirements, UX and streamline operations.

Business value

Although the project is still ongoing, the VisionFund Ukraine team has already achieved several outstanding business benefits from this collaboration, such as:

  • Streamlined loan management process: The product enables efficient processing of loan applications, from assessment to repayment, improving decision-making and customer service.

  • Enhanced data security: By developing their own solution from scratch, VisionFund Ukraine stakeholders can avoid security concerns related to data protection, ensuring compliance with local regulations.

  • Reusability and reduced development costs: The platform design and business flows can be reused in other countries, enabling scalability and expansion into new markets, and reducing the costs needed for development and market launch.

  • Security tested by the independent auditor: The delivered solution has already passed an independent security audit to confirm its reliability, compliance, and sustainability.

  • On-site collaboration to shorten time to market: The Yalantis team offered continuous support to the VisionFund Ukraine team during on-site meetups and training sessions for finance managers. These meetings helped to develop a product tailored to the Ukrainian market, launch it within a short timeframe and ensure a better user experience.

  • The collaboration with Yalantis empowered VisionFund Ukraine to enter the market with confidence, launching a tailored FinTech solution that meets local regulations, accelerates loan delivery, and builds trust with users. This success story highlights Yalantis’ ability to drive digital transformation in complex markets – delivering scalable, secure solutions that fuel growth and set the stage for future expansion across regions and product lines.

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