In an era where rapid digital transformation is reshaping the very foundations of finance, banks and payment service providers (PSPs) face unprecedented challenges. Regulatory pressures, aging legacy systems, and the relentless demand for faster, safer, and more efficient financial services create a complex landscape for institutions to navigate. Enter Elcoin, an innovative SaaS platform designed to address these pressing challenges with cutting-edge technology and strategic insight.

Elcoin's mission is clear: to empower financial institutions by offering a scalable, secure, and comprehensive infrastructure solution that not only meets today's demands but anticipates tomorrow's innovations. By combining cloud-native architecture, compliance by design, and seamless integration capabilities, Elcoin's SaaS platform radically simplifies and accelerates the journey towards digital excellence for banks and PSPs.

Today, we are thrilled to speak with Sergejs Svircenkovs, CEO of Elcoin. Sergejs will offer deep insights into Elcoin's transformative approach, discussing how this platform has rapidly become an essential cornerstone for forward-thinking financial institutions.

Interview with Sergejs Svircenkovs

Lorry Capital: Sergejs, it's great to have you here. Let's start with your vision—what inspired you to establish Elcoin, and what is the guiding philosophy behind it?

Sergejs Svircenkovs: Thank you, it’s wonderful to be here. The inspiration behind Elcoin really stems from my experiences and challenges observed across various financial institutions. Having spent extensive time managing ICT and business operations in banking, I saw firsthand how legacy systems and fragmented infrastructures were holding back innovation. At Elcoin, our vision is simple but powerful: we aim to enable financial institutions to rapidly innovate and deliver exceptional service without the technical burdens that typically accompany digital transformation. Our philosophy revolves around providing our clients not just with technology, but with the freedom to innovate and focus on their core business growth.

Lorry Capital: What are some of the critical challenges you see today in the banking and payments infrastructure landscape?

Sergejs Svircenkovs: Today's banks and PSPs grapple with several significant issues: compliance complexities, legacy system inefficiencies, cybersecurity threats, and the urgent need for real-time data processing and seamless user experiences. These challenges often overlap, creating costly inefficiencies and hurdles to digital innovation. For instance, financial institutions spend an enormous amount of resources just keeping their systems compliant and operationally secure, which detracts from their capacity to innovate and expand their service offerings rapidly.

Lorry Capital: Can you explain how Elcoin’s unique technology and architecture directly address these problems?

Sergejs Svircenkovs: Certainly. Our SaaS platform is designed from the ground up as cloud-native and fully modular, which means banks can quickly deploy and scale exactly what they need, without overhauling existing infrastructures entirely. Elcoin emphasizes compliance by design, embedding regulatory requirements directly into our core modules, thus significantly reducing the compliance burden on institutions. Furthermore, our open API architecture allows seamless integration with third-party services, enabling rapid innovation and flexibility.

Moreover, security is integral to Elcoin. Our platform undergoes continuous rigorous testing and adheres to stringent industry standards, ensuring our clients can confidently expand their digital services without fear of increased cybersecurity risks. Essentially, Elcoin liberates banks from the operational complexities, letting them pivot swiftly to market demands, explore new business models, and deliver superior customer experiences.

Lorry Capital: Sergejs, it sounds like Elcoin is more than just a technology provider—you’re enabling business growth and competitive advantage. Can you tell us more about how exactly Elcoin contributes to the success of banks, payment service providers, and fintech companies?

Sergejs Svircenkovs: That's exactly right. At Elcoin, we view technology as an enabler, not an end in itself. Our clients—banks, payment service providers, fintech startups—all come to us with ambitious goals, often centered around digital transformation, scaling operations, or rapidly bringing new financial products to market.

Success in the modern financial services landscape hinges on agility, compliance, scalability, and the speed of innovation. That’s precisely where our SaaS platform excels. By providing a fully cloud-native, modular infrastructure, we drastically reduce the time-to-market for launching new financial products and services—from years down to mere months or even weeks. Our clients can launch digital banks, embed payments capabilities seamlessly, or roll out innovative lending products with unprecedented speed and operational ease.

Lorry Capital: Could you perhaps highlight some real-world examples or scenarios where your platform has significantly contributed to a client's success?

Sergejs Svircenkovs: Certainly! One of our recent partnerships was with PayPugs, a rapidly expanding financial services platform managing treasury operations across multiple jurisdictions. They faced the challenge of integrating complex compliance processes and automating high-volume financial data flows. Leveraging Elcoin’s digital infrastructure, PayPugs automated approximately 98% of their existing manual processes. This not only significantly reduced operational costs but also enhanced compliance and security across all operations.

Moreover, we’ve supported the launch of the first crypto exchange in Kyrgyzstan, enabled a new Banking-as-a-Service platform in the United States, and helped multiple Canadian payment service businesses streamline their infrastructure. Each scenario had unique regulatory and operational challenges, but with Elcoin’s flexible, modular approach, we delivered precisely tailored solutions that propelled our clients' competitive positioning and growth trajectories.

Lorry Capital: It seems compliance is particularly central to Elcoin's offering. How do you manage compliance complexity while maintaining the agility that modern fintech and payment companies need?

Sergejs Svircenkovs: Compliance complexity is a critical challenge in today’s landscape—something many startups underestimate at first. Elcoin’s approach is what we call "Compliance-by-Design." Our platform integrates robust compliance processes directly into its infrastructure, covering everything from AML/KYC checks to automated transaction monitoring using advanced AI and machine learning tools.

We’ve designed these systems to be jurisdiction-agnostic, meaning our clients can adapt swiftly to different regulatory frameworks without major disruptions or expensive custom developments. For instance, our Compliance-as-a-Service offering automatically screens transactions in real-time, drastically cutting down on false positives and manual intervention. This means fintech innovators and payment service providers can focus on their core business and innovation, confident that regulatory compliance is robustly managed by our infrastructure.

Lorry Capital: Finally, Sergejs, what’s the one piece of advice you’d give fintech companies or financial institutions aiming to leverage technology for growth?

Sergejs Svircenkovs: My advice is always clear: think of technology as strategic infrastructure, not as a commodity. Invest in solutions that offer flexibility and scalability from day one. At Elcoin, we believe that future-proofing your technology investments—through modular, cloud-native platforms like ours—will not only enhance your immediate competitive position but also sustainably support long-term growth, innovation, and regulatory resilience.