The United Kingdom is Ukraine’s top partner in the IT sector, but there is potential for growth, particularly in FinTech. Mark Farrington, head of GlobalLogic’s UK office, spoke about this during his visit to Ukraine. In Lviv, he met with the city mayor, Lviv IT cluster, and engineers from GlobalLogic, one of the largest IT companies in Ukraine.
The UK ranks third among the countries that order the most IT services from Ukraine. The US and Malta are ahead, according to the National Bank of Ukraine.
At the same time, in the export structure of GlobalLogic (one of the three largest IT companies and one of the largest exporters of Ukraine – Forbes) for 2022, the UK ranks fifth among the countries that order the most services from Ukraine. After the United States, Israel, Germany, and Poland.
“Ukraine is our largest development center in Europe. At GlobalLogic alone, we have 6,500 fantastic specialists who have shown their professionalism in the most difficult circumstances. There is a strong focus on fintech in the UK and the experience and skills of Ukrainian developers will come in handy. This is the foundation for business growth between the UK and Ukraine,” Mark Farrington said.
More than 200 Ukrainian engineers at GlobalLogic are already developing solutions for FinTech industry leaders, which once again confirms the expertise and trust of foreign partners. According to the results of GlobalLogic’s Independence Day survey, 72% of foreign colleagues note the high level of the IT sector in Ukraine.
“Ukraine has a developed FinTech sector: we have popular online banking, 67% of financial payments and more than 90% of transactions are made without cash. At the city level, we are creating new opportunities to accelerate digitalization. And cooperation with foreign partners is a useful source of experience and resources for our development,” says Andriy Pavliv, Head of Investment and Projects at the Economic Development Department of the Lviv City Council.
According to Yaryna Voznyak, representative of Lviv IT Cluster, international visits are becoming more frequent. Such support allows promoting the services of Ukrainian engineers abroad, thereby retaining existing customers and attracting new ones.
“Today’s meeting with Mr. Farrington cements our strong business relations with the UK. We put a lot of effort into promoting Ukraine internationally, in particular, now Ukrainian companies can join Tech UK Market,” adds Yaryna Voznyak, Head of Research at Lviv IT Cluster.
