Ukrainian fintech product Koto was launched in the UK in beta mode. It is a banking application by Fintech Band, the team of PrivatBank ex-managers Oleh Horokhovskyi and Mykhailo Rohalskyi.
Koto’s entire offering is purely app-based, where its mascot, the koto cat, makes monitoring cash flow and applying for credit stress-free and accessible. Koto strives to be wholly community-driven, using its access to a large team of developers to build new features as requested by users.
Koto’s customers are typically excluded by big banks because they have “inconsistent income” (freelancers or the self employed, for example), are new to credit or the UK, or have a mark against their credit history. With the coronavirus pandemic heavily impacting many individuals’ finances, access to safe alternative sources of credit is arguably more important than ever.