Alfa Bank announced on Wednesday it has formed a new partnership with Silicon Valley accelerator, Plug and Play. Alfa reported that through the collaboration, it is expanding its contacts to fintech startups on a global scale.
Plug and Play describes itself as a global innovation platform that connects startups, corporations, and investors throughout the world. The organization’s network encompasses more than 30,000 startups in various disciplines worldwide, over 400 corporate partners, and a presence in more than 30 locations globally. While sharing more details about the partnership, Vladimir Verkhoshinsky, CEO of Alfa Bank, stated:
“This collaboration will enhance our network of partnerships in the fintech ecosystem. We have great expectations for the program in terms of scouting of innovative banking solutions for our customers.”
Fernando Zornig, Program Director at Plug and Play Frankfurt, then added:
“Alfa Bank will be a key factor to our sourcing efforts and is aligned internally to engage with startups from a business development and investment capacity. This will better serve Alfa Bank’s clients and help them grow.”
Alfa-Bank claims it is the largest universal privately-owned bank in Russia and has been leading in all banking business segments for 30 years.