Redefining Cross-Border Payments: Sergey Bochkov’s Strategies

The fintech industry is undergoing a rapid transformation, with huge advances such as decentralized finance (DeFi), blockchain payment systems, and artificial intelligence (AI)-based financial tools revolutionizing the industry. As businesses grow and the need for faster, more secure, and cheaper solutions increases, cross-border payment volumes are expected to grow exponentially. According to the McKinsey Global Payments Map, by 2028, global payments revenue will hit $3.1 trillion as banks and financial institutions face increasing pressure to invest in the latest payment technologies to be able to compete with specialty players in the sector whose market share has been climbing up in recent years.

Amid this revolution, entrepreneurs like Sergey Bochkov are helping bridge the gap between innovation and real-world application. An experienced fintech leader, Sergey has played a role in this shift by bringing forward ways to automate financial processes that reduce inefficiencies in global transactions. In this interview, he talks about the challenges of cross-border finance and the strategies that have driven his success.

Sergey, thanks for being here. Let’s begin with the big picture. Why do cross-border payments still pose a big challenge for businesses? 

The main problem stems from the inefficient traditional banking systems. Payments often involve multiple middlemen, which causes delays, high costs, and a lack of transparency. These are the issues medium and large businesses, which depend on seamless international operations, face all the time. For example, companies that pay suppliers or buy assets in different countries often run into misaligned banking rules and poor communication. This not only increases costs but also puts these businesses at financial risk.

Your platform Evita tackles these issues faced by the traditional banking systems, which often involve a lot of middlemen. Can you tell us how it makes cross-border transactions easier, helping businesses reduce operational costs by up to 10% and boosting their payment efficiency by 30-35%? 

We built Evita to meet global business needs and remove the limitations of traditional banking. The platform uses blockchain technology to ensure safe and transparent transactions while supporting payments in 20 currencies. One of its key innovations is automation. By streamlining payment processes, it cuts down on manual work, reduces mistakes, and helps process payments faster. This saves companies a lot of money and helps them manage their cash better.

Blockchain is often associated with fintech innovation. What part does it play in your platform, and why does it matter? 

Blockchain is a key element of Evita as it addresses two major issues—security and transparency. Traditional international payments involve multiple intermediaries, leading to delays and errors. Blockchain eliminates these intermediaries by creating a unified ledger that ensures the security and accuracy of each transaction. For businesses, this means faster payments, reduced risks, and lower costs. Moreover, the technology enhances trust, which is particularly crucial in international transactions where participants may not know each other personally.

Automation is another big part of your work. Can you tell us about the Telegram bot you created, which operates round the clock and has increased your team’s productivity twentyfold? 

The bot automates customer, transaction, wallet, and invoice screening for trade sanctions, political exposure, and high-risk industries. Many banks conduct transaction checks manually and only during business hours in their time zone. The bot operates 24/7, making sure transactions process smoothly without delays. This enables companies to handle transactions more efficiently while reallocating internal resources to more strategic financial operations.

Traditionally, bank-based currency conversions take days to process. Now, you use a crypto sandwich to optimize the process. Please tell us more about this groundbreaking technology. 

Additionally, we use a technology known in professional circles as a crypto sandwich. We can purchase stablecoins for USD within the U.S. in just one minute using licensed exchanges. In the next minute, we sell these stablecoins for EUR in Europe through similar platforms in the EU or the UK.

Traditional bank-based USD-to-EUR conversions typically take one or two days. We optimize this process to just a few minutes.

Moreover, we provide clients with transparent pricing and exchange rates, as transactions occur almost instantly. In contrast, many banks do not specify the exact rate fixation date, exposing users to unexpected fees.

Cross-border payments are a complex space with evolving regulations. How do you address compliance and adapt to changing environments? 

Compliance presents a big challenge in cross-border transactions because each country has its own rules. At Evita, we’ve created systems that can adjust to these requirements. This involves updating our platform, monitoring regulatory changes, and collaborating with local financial institutions to ensure compliance. Keeping up with these changes is crucial to maintaining trust and reliability for our clients.

Now what advice would you give to entrepreneurs tackling challenges in cross-border finance? 

First, focus on the problem you’re solving. For us, it was about making international payments easier for businesses. Knowing what bothers your target audience is key. Second, use technology thoughtfully. Blockchain and automation are powerful tools, but you need to apply them in ways that add value. Finally, be flexible. The financial landscape keeps changing, and being able to adapt is vital for long-term success.

Finally, what do you think will happen to the fintech industry in the next five years, and what should Evita’s role be?  

We’re seeing more synergy between AI, blockchain, and real-time data analytics in the world of fintech. At the same time, digital currencies and decentralized finance are gaining traction, and secure, transparent, simple, and fast payment systems such as Evita are needed. So, our mission is to stay one step ahead of the trends, always innovating to meet what the next requirements will be. Already, we’re working on partnerships in decentralized finance and expanding our blockchain capabilities to support real-time international transactions.

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