DFI is a management company, provider of technology solutions for fintech around the world. Since 2015, Digital Finance International successfully supervises business in more than 10 countries, including emerging markets in Eastern Europe, Latin America, the CIS, and Asia countries.
DFI. General Information
There are approximately 2.5 billion people in the world who have financial service problems. Most of them live in developing countries, but even in mature markets there are financial consumers who are not satisfied with outdated credit services. They expect high speed and maximum convenience in accessing financial services — anytime, anywhere and on favorable terms.
Traditional banking institutions find it difficult to serve such customers — in most cases they are unable to respond to all user requirements. However, alternative financial service providers have already responded to this demand. To succeed in this new environment, modern technology is required.
Finstar and Other Projects
Finstar is an international investment company with a total asset value of about USD 2 billion. It was founded in 1996. The founder and Chairman of the Supervisory board is billionaire Oleg Viktorovich Boyko. Now the group is focused on financial technologies, though earlier it worked effectively in other areas, a striking example is the company Rive Gauche.
Oleg Boyko successfully sold his assets from the entertainment sector and focused on fintech-sector. The businessman himself says that he chooses projects for investment based on where he sees prospects, constantly scanning new segments and opportunities: “Right now we are in digital finance. We are building a mobile ecosystem, this is a well-known global trend, but we are going there our own way.” Oleg Boyko points out that the omnivorousness that was justified in the 1990s is no longer relevant. Finstar has focused on the financial business, and, despite the flow of new offers, the company’s management does not plan to diversify any further.
In 2015, Finstar Financial Group launched DFI, a project specializing in research and implementation of innovative fintech technologies. The company is present in more than 10 countries and represents more than 20 consumer brands in the area of digital lending. Since the business is focused on the online segment, it is rapidly expanding into new markets.
Oleg Viktorovich invested in the Spotcap online lending service, the Viventor P2P online lending platform for individuals, the Rocket10 and Billfront online marketing services, and other promising ventures. In the spring of 2017, his international company, Finstar Financial Group, announced plans to invest about USD 150 million in fintech projects. Part of these funds will go to launch its own developments.
The main target audience of Finstar’s portfolio companies, including DFI, are people who, for some reason, do not have access to banking services and those who are dissatisfied with the quality of banking services. Finstar offers them a new level of financial intermediaries using artificial intelligence and other innovative technologies. The company has an extensive fund of startups that address the same issue from different angles, supporting a common strategy.
Oleg Boyko himself believes that changes in consumer behavioral patterns, developments in cloud technology, and the increasing power and availability of gadgets are challenging existing financial institutions: “We are the most geographically stable company in the world of lending. We are different from others strategically.”
DFI Strategy and List of Services
Oleg Boyko’s Digital Finance International company develops according to a well-thought-out strategy using advanced technologies to create products. DFI develops the following services:
• Single Payment Loan. A short-term unsecured loan product for emergencies where immediate cash payments are needed. Among the advantages – quick application with minimal requirements for the borrower. Significant interest rate is associated with high risk of loan default.
• Installment loan. A medium-term unsecured loan paid by the borrower in installments, with a longer repayment period and a more extensive package of documents for obtaining than a Single payment loan. Granted for a term of 3 months to 7 years.
• Credit line. The borrower has an unsecured approved credit limit available when needed. At the customer’s request, the amount needed will be transferred to an account or card, and interest is calculated based on the current balance
• POS lending. Simplifies the shopping process for a modern customer. The loan amount is transferred to the seller’s account and the borrower receives a loan agreement.
• P2P lending. The borrower receives money from European private individuals. In the long run, it is a high return opportunity for investors and flexible investment solutions.
Brief Biography of Finstar Founder Oleg Boyko
Oleg Boyko was born in 1964. He graduated from Moscow Aviation Institute and Russian Presidential Academy of National Economy and Public Administration with an MBA degree. In 1988, he opened a cooperative that sold computers and software and then launched the country’s first debit card. The businessman now jokingly calls it his first personal fintech project. In 1996, together with his partners, he founded the Finstar Financial Group.
In 2015, the businessman became a member of the IWAS Development Committee. Oleg Boyko devotes time to charitable projects. He created the Parasport Foundation to support Paralympic sports. During the pandemic, the fund provided Russian athletes with medical protection. More than two thousand people received the assistance.
In 2021, Finstar sponsored the CIS Digital Partnership International Convention. The company’s participation in the convention contributes to strengthening project expertise. On its part, the developers of the best projects will be given the opportunity to implement their projects in one of the world’s leading investment companies. Oleg Boyko supports initiatives that are aimed at finding talents: “People are the only oil. Right now, I’m exploring projects that focus on finding people with an increased ability to do something, training these people, I am exploring options for intellectual communities for talented people who want to share ideas for our living space.”
