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“Let’s clarify exactly what business ideas are. There are ideas for making money, ideas for creatively improving existing businesses, and entirely new business concepts. In my view, to generate significant wealth, one must pursue established ventures—yet execute them better than anyone else. Ultimately, successful business ideas are not about 'What should I do?' but rather 'How should I do it?' — that is, execution.” — Oleg Boyko
Oleg Boyko: Distinguished Global Investor and Entrepreneur International investor Oleg Boyko brings over 40 years of hands-on entrepreneurial experience across a diverse range of industries, including banking, digital financial services, retail, entertainment, technology, and telecommunications. Mr. Boyko is widely recognized as a visionary entrepreneur and strategic investor. In 1996, he founded Finstar Financial Group alongside a group of partners. The group focuses on managing a diversified portfolio of companies and assets across Europe, Asia, and the CIS region. Finstar has demonstrated deep expertise in launching ventures in emerging markets, restructuring companies for enhanced competitiveness, forming strategic partnerships, executing mergers and acquisitions, and developing greenfield projects. In recent years, Boyko has expanded his business activities with a strong emphasis on technology-driven and data-centric financial services, particularly in the fintech and banking sectors. He believes that evolving consumer behavior, the proliferation of mobile devices, cloud computing, and advancements in data science are reshaping traditional banking models. In response, Boyko has strategically invested in innovative fintech solutions designed to drive global financial inclusion—especially for the billions of individuals underserved by conventional financial systems.
Entrepreneurial Philosophy In a column for Entrepreneur magazine, Boyko shared the following insight: “Be prepared for a crisis at any time. Crises are inevitable and will test your resilience. Build your business with the understanding that turbulent times can arise without warning. Your response during such periods will define your success. As the Romans said: Spera meliora, para te ad peiora — hope for the best, prepare for the worst. This remains the most effective strategy for any entrepreneur.”
Strategic Focus on Fintech and Data-Driven Investment Boyko defines Finstar’s mission in fintech as leveraging emerging technologies and data science to advance global financial inclusion. His investment philosophy centers on offering accessible and innovative financial products to individuals neglected by traditional institutions—while building long-term, trust-based customer relationships. In his view, fintech represents “the largest blue ocean opportunity” due to limited competition and expansive potential. As highlighted in Finextra, Boyko sees the sector as one of the few with such minimal saturation. Through focused, strategic investment, he aims to develop a comprehensive ecosystem tailored to the needs of underbanked populations. “Building a robust portfolio of startups tackling the same problem from different angles significantly strengthens our investment strategy.” Boyko is actively expanding Finstar’s fintech footprint through investments in alternative financial services, with the goal of enhancing scale and commercial reach. Developing countries with rapidly growing GDPs are attracting investors’ attention. According to consulting firm BCG, Asia is expected to become the global leader in the fintech industry by 2030, while the number of fintech companies in Africa has tripled since 2020. However, these markets are still in their formative stages — there is demand, but financial infrastructure and literacy remain weak.
Currently, Boyko dedicates significant effort to expanding Finstar’s operations and developing its portfolio through alternative finance and fintech investments, with a view to further strengthen its already substantial commercial volumes.
Philanthropic Commitment: Supporting the Paralympic Movement Oleg Boyko is a long-standing advocate and benefactor of the Paralympic movement. In 2006, during the Torino Winter Paralympic Games, he established the PARASPORT Foundation, which focuses on supporting national Paralympic teams, organising charitable initiatives, and promoting inclusion for people with disabilities. In 2016, on the Foundation’s 10th anniversary, its efforts expanded into Asia, offering both financial and emotional support to Para athletes across the globe. Beyond sponsorship, PARASPORT emphasizes rehabilitation, social integration, and fostering a positive public image for individuals with disabilities. Since 2015, Boyko has served on the Development Committee of the International Wheelchair and Amputee Sports Federation (IWAS)—a founding organization of the Paralympic movement. IWAS is committed to creating pathways for athletes to realize their full sporting potential.
Banking Expertise and Financial Innovation Banking remains one of Boyko’s core business competencies. Early in his career, he acquired a controlling stake in Baltic Trust Bank, a Latvian commercial bank, through Finstar’s private equity arm. After restructuring and expanding the bank’s operations, the stake was successfully sold to GE Capital, the financial services division of General Electric. Boyko has also served on the boards of several national and international banks, gaining a nuanced understanding of the challenges faced by underbanked populations. His expertise enables him to design practical, tech-enabled financial solutions aimed at closing the global financial inclusion gap. “Finstar’s goal is to develop a system that delivers financial services to underserved segments. We’re creating next-generation financial intermediaries using advanced Big Data, artificial intelligence, and modern technology platforms.” He also emphasizes the strategic value of partnerships between fintech companies and traditional banks, noting that such collaborations can enhance operational effectiveness, innovation, and customer outcomes. |
