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Denys Kyrychenko: Corefy Integrates Payment Providers and Acquirers All Around the World to Bring a Unified Communication

Corefy is a universal payment orchestration platform for online businesses and payment institutions. It integrates payment providers and acquirers all around the world to bring a unified communication, control, and management interface.

The platform was launched in 2018. It provides feature-rich functionality to connect and manage payment services, initiate and process transactions, collect and analyse payment data, and much more.

The main value proposition is the possibility to onboard swiftly, connect optimal providers, maximise conversions and optimise costs, set up hosted payment pages in the desired design, and last but not least, conduct payments via almost any payment method in the world. With these toolsets, we help our clients to cope with an ultimate business goal — scaling to the new markets in a fast and efficient way.

At the beginning of 2022, our company reached a momentous milestone on its path toward becoming the most integrated payment platform around the globe. The number of integrations with payment providers and acquirers available to Corefy’s clients out-of-the-box reached 200. 

Tell us about yourself?

I started my career in the fintech area 15 years ago. As a student, I developed a mobile application for RuPay, later rebranded and known as RBK.Money.

Having zero prior experience, it took me 4 months to create a mobile wallet on SymbianOS for all available smartphones on the market (there was no trace of iOS and Android yet at that time).

Further, I earned some hands-on experience working with projects like RuPay, WebMoney, RBK. Money, Monexy — pioneers in the fintech industry in Eastern Europe and delivered truly cutting-edge solutions to the market. As a CTO of Interkassa, I reached the next milestone —  developed a payment aggregator.

At some point, I decided to move on from technical product development. Together with the partner, we acquired Interkassa to launch it as a stand-alone business.

I gained knowledge and understanding regarding online payments and successfully launched multiple PSPs and e-wallet solutions. I left Interkassa to start my own fintech project, Corefy, with an HQ in London, UK, an R&D office in Ukraine.

If you could go back in time a year or two, what piece of advice would you give yourself?

Find people with the same principles and ideas as you. They are the key to success! 

What problem does your business solve?

At Corefy, we aim to centralise and standardise online payment processing, improve visibility and control over transaction flows, mitigate risks, and improve overall business efficiency. Our purpose is to help our customers multiply payment capabilities and reach without the need to invest in development or infrastructure. The project offers the technology to build almost any online payment solution. We took care of building omni- and cross-channel cloud infrastructure and full-service payment solutions for both corporate and institutional clients.

What is the inspiration behind your business?

Together with Dmytro Dziubenko and Den Melnykov, Co-founders of Corefy, we experienced the ins and outs of the industry. We realised that rapid technological development has drastically changed consumer habits, competition, business activities, and other areas. Moreover, the payment industry had grown more fragmented, becoming too complex. These changes and the challenges they raised for businesses prompted us to create Corefy.

What is your magic sauce?

The key difference between Corefy and payment providers is that we’re not a financial organisation, but a SaaS cloud-based technical platform. This type of organisation allows our clients to use all the benefits of our service.

Key benefits:

  1. Ultimate scalability. One integration with Corefy makes clients all set for whichever market they decide to enter or expand in. 
  2. Cost and revenue optimisation. Corefy provides intelligent tools for cost optimisation, risk mitigation, and more streamlined and efficient performance, saving clients’ time and boosting their conversion rates.
  3. Continuous improvement. Our aim is to become the most connected payment platform in the world. Corefy constantly looks for new connections and features to add, and opportunities to tweak the existing ones.
  4. Your payment team. With more than 10 years of experience in payments, Corefy’s team knows what helps our clients to reach the top. We’re ready to help the clients get there with personalised support and consultancy.

What is the plan for the next five years? What do you want to achieve?

Our plans for the nearest future are quite ambitious. In the first place, we plan to increase our global presence and expand to new markets. To name a few, we see our company operating in North and South America, with local offices in Canada and Puerto Rico.

Today our team is actively working on building a holistic ecosystem of products and services, including ones for reconciliation, fraud prevention, and terminals. We believe that the extension of our product line will contribute not only to our customers’ experience, but also to the fintech industry in general. 

What’s more, we allocate all our resources to become the industry leader in the next few years. We do our best to stay pioneers in our domain and innovators in terms of product development.

What is the biggest challenge you’ve faced so far?

The biggest challenge now is increasing our growth and expansion rates. We already have 5 global locations: the headquarters in London, United Kingdom, R&D office in Kyiv, Ukraine, and 3 representative offices in Manila, Philippines, Herzliya, Israel, and Amsterdam, Netherlands.

As I mentioned earlier, we plan to expand to new countries. Together with opening new representative offices, we meet the challenge – to find like-minded people around the globe. It’s important to work with people who will share our values, principles, and vision. 

How do people get involved/buy into your vision?

Corefy’s products, such as white label solutions, are a perfect entry path to the highly competitive payment services market.

Understanding the needs of merchant service providers, we’ve built a scalable payment platform with cutting-edge tools and established 200+ connections with payment providers and acquirers, allowing to run a business under your brand at a lower cost than the average salary for a programmer.

The best way to contact us is by using the form on our website. Also, you may find us on almost all social media. Subscribe to our Facebook, LinkedIn, Twitter or Instagram and stay up to date.

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