Sweden-headquartered Dreams, a provider of digital self-help tools for managing personal finances, is partnering with Ukrainian commercial bank Ukrsibbank.
Dreams is developing a proposition in the market as a provider of white label solutions to financial institutions, and this is the fintech company’s latest enterprise partnership.
Through the new partnership, Ukrsibbank, a subsidiary of BNP Paribas, will offer digital tools to Ukrainian customers that will allow them to set and achieve money-saving goals through clever, automated saving features, in addition to nudges and saving hacks.
The Dreams personal finance toolset will be included as part of Ukrsibbank’s digital banking offering for its two million+ customers, and is set to grant millions of potential consumers across Ukraine access to products that help keep their finances on track and improve their financial wellbeing.
Dreams launched its consumer-facing app in its native Sweden in 2016 and Norway in 2018, where it has already achieved a 16% market share of all 20 to 39 year olds.
The Ukrsibbank partnership follows Dreams striking an enterprise agreement with banking software provider Silverlake Symmetri earlier this, and the recent unveiling of a new department in Stockholm dedicated to the development of its white label proposition.
Henrik Rosvall, chief executive officer and founder of Dreams, commented: “It’s a true honour to be partnering with Ukrsibbank and BNP Paribas Group, and we’re incredibly excited to be introducing the Dreams solution to Ukrsibbank’s customers and the wider Ukrainian market.”
He added: “Our financial wellbeing platform—which is built upon behavioural science and personal finance management principles—will provide the perfect tool for Ukrsibbank to help its customers make better financial choices and become more sustainable in the way they handle their finances.”
“This partnership will also help Ukrsibbank safeguard the loyalty of its customers and futureproof its digital banking offering against a growing number of challenger banks and fintechs.”
Konstantin Lezhnin, head of retail at Ukrsibbank BNP Paribas Group, said: “I believe that banks have a role to improve their customers’ lives. Planning and saving for important life events improves our quality of life by reducing stress levels, and we wish to make our customers feel more confident and in-control of their lives.”
“Ukrsibbank has always applied innovative ways to assist our customers in financial planning, so we are very happy to now be working with Dreams, the best European player in behavioural savings. They have an extremely solid track record in Sweden and Norway based on scientific research, so we are confident that this partnership will work positively for our customers in Ukraine.”
“This also demonstrates our strategy to cooperate with startups and innovative companies that seek ways to expand their operations.”