Activitis and Piraeus Bank have announced the launch of WEAGROBANK* – a digital financial service for micro, small, and medium-sized agribusinesses. The new service combines banking services, financing, and digital tools for daily agricultural operations in a single online space.
WEAGROBANK is designed for farmers who want to manage their business finances quickly, conveniently, and online: without trips to bank branches, unnecessary paperwork, and lengthy approvals. The service combines the expertise of a European bank with the speed of modern fintech to make financial services more accessible to agribusinesses across Ukraine.
Within a single digital interface, farmers will be able to:
• open and manage accounts online;
• make payments and monitor cash flow;
• earn income on account balances;
• use embedded financing and installment services;
• work with the WEAGROMARKET marketplace;
• use a personal AI assistant to support current business decisions;
• access expert materials and business tools from the WEAGRO ecosystem.
The key idea behind WEAGROBANK is to give farmers the ability to seamlessly handle financial tasks and use the services they need in one place, without being distracted from the daily operations of their farm.
A distinct advantage of WEAGROBANK is access to a financial limit (business installment plan and payment of any invoice in installments) immediately after opening an account. This will allow farmers to address current financing needs and receive decisions within 30 minutes without complicated procedures.
WEAGROBANK is primarily focused on micro, small, and medium-sized agribusinesses. For this segment, speed, ease of access to financing, and the ability to manage daily operations in a unified interface are critically important.
“We see great potential in developing digital financial solutions for the agricultural sector. WEAGROBANK is an example of how combining banking expertise with a fintech approach can create a simpler and more accessible service for farmers,” noted Yannis Kyriakopoulos, Chairman of the Board, Piraeus Bank.
“For Activitis, this project is an important stage in the development of the WEAGRO ecosystem. We strive to create an environment for farmers where financing, banking, and digital services work as a unified system and help farmers grow their businesses faster,” commented Pavlo Matiyash, CEO of Activitis.
The new product represents the next stage in the development of the WEAGRO digital ecosystem, as more than 3,000 farmers who cultivate over 3 million hectares have already used the WEAGRO online service.
Background:
Piraeus Bank is a bank with European capital that has been operating in Ukraine since 2007 and is part of Greece’s largest financial group, Piraeus. Piraeus Bank in Ukraine combines international expertise with local experience, implements European service standards, and creates modern banking solutions for businesses and private clients. The bank has significant expertise in financing the agricultural sector, small and medium-sized businesses, and actively develops digital and online banking.
Activitis is a Ukrainian fintech infrastructure that creates embedded financial solutions for micro, small, and medium-sized businesses, forming a modern financial ecosystem aimed at developing entrepreneurship and strengthening the country’s economy.
The Activitis infrastructure includes:
- WEAGRO – an online agricultural installment service for agribusiness
- eDilo – an installment payment service for companies across various industries
- Activitis Education – an educational platform for businesses and students
- Rebail Asset Management – an asset management company
*WEAGROBANK is not a banking institution; the provider of banking services under this service will be JSC “PIRAEUS BANK ICB” NBU License No. 91 dated October 17, 2011
