Papaya Ltd., an Electronic Money Institution, specializing in innovative financial solutions, is pleased to announce the appointment of Igor Tsybolyuk as its new Chief Executive Officer (CEO), effective immediately. Tsybolyuk brings a wealth of experience in financial services for small and medium-sized businesses across Europe and the UK, making him an invaluable addition to the Papaya team.
Igor Tsybolyuk has been with Papaya Ltd. since June 2022, serving as Chief Operating Officer (COO). During his tenure, he successfully implemented business strategies, set ambitious performance goals, and managed daily operations, significantly contributing to the company's growth and stability. His deep expertise in regulatory compliance and strategic planning, combined with his extensive background in collaborating with regulators, positions him perfectly to lead Papaya Ltd. into its next phase of development.
“We are thrilled to have Igor Tsybolyuk step into the role of CEO,” said Dmitrijs Panurskis, Chairman Of the Board, Owner of Papaya Ltd. “His proven leadership and comprehensive understanding of the financial industry will be instrumental in driving our mission to provide best-in-class financial capabilities to our clients.”
In accepting his new role, Tsybolyuk commented: “I am honored to lead Papaya Ltd. during such a dynamic time in the fintech industry. We are committed to the rapid development of our financial technologies and to maintaining a consumer-focused approach. Our mission is to provide outstanding financial capabilities to European consumers and businesses, including underserved categories, ensuring inclusivity and access for all. Additionally, we will continue to work closely with regulators to uphold the highest standards of compliance and transparency.”
Tsybolyuk’s previous experience includes leading roles such as CEO at Talentoom Ltd. and Fin Communications s.r.o., where he focused on business development, compliance, and financial management. His extensive background in financial services and his commitment to regulatory collaboration will drive Papaya Ltd.'s strategic goals and ensure its continued success.
Papaya Ltd. is dedicated to pioneering innovative financial solutions and enhancing the financial well-being of its clients. With Igor Tsybolyuk at the helm, the company is poised for significant growth and continued excellence in the fintech sector.
Papaya Ltd. is a fintech institution registered and headquartered in Malta. As an Electronic Money Institution (EMI) regulated by the Malta Financial Services Authority (MFSA), Papaya Ltd. provides digital banking services including Mastercard payment cards and IBAN accounts for individuals and businesses, a PSD2 compliant solution enabling SEPA transfers, and offers co-branded and white-label mobile and online banking. The company also delivers PSD2 compliant API for fintech solutions as AISP and PISP, automated digital Know Your Customer (KYC) solutions, and personal and business International Bank Account Numbers (IBANs).
Blackcatcard, powered by Papaya Ltd., is a leading project that merges traditional financial services with advanced digital banking features.