EMA

What EMA does

EMA (ЄМА, Українська міжбанківська асоціація членів платіжних систем) is a Ukrainian non-profit interbank association founded in 2000 that operates as the collective fraud-defense and industry-coordination body for Ukraine's payment market. It serves 60+ member organizations including the country's largest banks (PrivatBank, Oschadbank, Raiffeisen Bank, UKRSIBBANK, PUMB, monobank), global card schemes (Mastercard, Visa), payment companies, microfinance firms, marketplaces, and, as of 2026, the first gaming operators. The association holds a quasi-regulatory position through formal working groups with the National Bank of Ukraine and a cooperation memorandum with the Cyberpolice of Ukraine, and represents Ukraine in the European Association for Secure Transactions (EAST).

EMA's core technical asset is the AntiFraud HUB, a community-driven fraud intelligence platform launched in 2001 that aggregates fraud incidents, compromised credentials, SIM-swap status, and cardholder verification checks across participants. Its modular services include the Drop and Incident Database (БДІ) with 45,000+ records, CrimeCheck (~90,000 queries processed at 94%+ success rate in H1 2026), Mobile Check (integrated with Kyivstar, Vodafone, and Lifecell APIs, with UAH 397,000 average prevented loss per detected case), Cardholder Verification, a card-blocking service with ~2-second interbank response, and a CSIRT-NBU phone-number reputation integration. Adjacent to the HUB, EMA operates the Open API Group and Open API HUB (open banking infrastructure co-developed with GD Next), EMA Academy (including the mini-MBA "Digital Finance 4.0"), and public-facing education assets such as Cyber Safety School, the "Здолай Шахрая" game, BlackList EMA, and CheckMyLink.

Revenue is generated through tiered annual membership subscriptions: banks pay 165,000-210,000 UAH per year (Open API Group, AntiFraud Business, Premium tiers) plus a one-time 30,000 UAH entry fee; non-bank financial service companies pay 165,000-187,500 UAH. Premium tier members receive conference access, international project participation with EC3 Europol and EAST, and PR support. EMA also derives partnership and sponsorship revenue from co-hosted events such as the 26th annual Payments & Security Conference (April 2026), the Open Finance & Payments Summit, and quarterly ФБРіК forums. The association is member-owned and managed by a Board elected at the General Meeting (most recently October 24, 2025) under Director Oleksandr Karpov.

Name

EMA

Legal name

Українська міжбанківська асоціація членів платіжних систем ЄМА

Website

https://ema.com.ua

Company type

Private

Founded year

2000

Operating status

Operating

Headcount range

1–10 employees

Short description

EMA (Ukrainian Interbank Association of Members of Payment Systems) is a non-profit association serving 60+ Ukrainian banks, payment schemes, MFOs, and fintechs. It operates the AntiFraud HUB fraud-intelligence platform and represents the payment industry in NBU and Cyberpolice coordination.

Ownership category

akta.pro rank

Product category

Fraud Prevention and Payment Security Software

NAICS

Professional Organizations (81392)

SIC

Services-Membership Organizations (8600), Finance Services (6199)

akta.pro primary industry

Fraud Risk Management & Anti-Bribery/Anti-Corruption (ABAC) (BPAHAFAL)

akta.pro secondary industries

Identity & Access Security Services (IAM, PAM, Zero Trust) (BPAKAHAI), Cybersecurity & Identity Consulting (BPAHAEAG)

Keywords

• Fraud prevention platform
• Interbank payment association
• Anti-fraud intelligence sharing
• Open banking infrastructure
• Payment security services

Headquarters

HQ city

Kyiv

HQ country

Ukraine

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Bank Membership Fees: Banks pay tiered annual membership fees: Open API Group – 165,000 UAH/year; AntiFraud Business – 187,500 UAH/year; Premium – 210,000 UAH/year, plus one-time entry fee of 30,000 UAH.
2. Financial Services Membership Fees: Non-bank financial service companies pay tiered fees: Open API Group – 165,000 UAH/year; AntiFraud Business – 165,000 UAH/year; Premium – 187,500 UAH/year.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels9 records

Core offering

EMA is a Ukrainian non-profit interbank association that operates the AntiFraud HUB – a shared fraud intelligence and prevention platform serving Ukrainian banks, payment companies, microfinance organizations, and marketplaces. The platform delivers interconnected services including a Drop and Incident Database (45,000+ fraud incidents), CrimeCheck for compromised-credential lookup, Mobile Check for SIM-swap verification with the country's three mobile operators, Cardholder Verification for identity matching, and a Card Blocking Service. Membership tiers (Open API Group, AntiFraud Business, Premium) grant access to NBU working groups, quarterly Security Forums, conferences, and the Open API HUB for open banking infrastructure.

Product overview

EMA (ЄМА — Українська міжбанківська асоціація членів платіжних систем) is a non-profit industry association for Ukraine's payment systems market, founded in 1999 and now comprising 60+ member organizations including major banks (PrivatBank, Oschadbank, Raiffeisen Bank, etc.), payment systems (Mastercard, Visa), microfinance organizations, and fintech companies. The association's core offering is the AntiFraud HUB platform — a community-driven fraud-prevention infrastructure providing interconnected services: the Drop and Incident Database (БДІ, 45,000+ incidents), CrimeCheck for compromised-credential lookup, Mobile Check for SIM-swap verification with three mobile operators, Cardholder Verification for identity matching, a card blocking service, and a CSIRT-NBU phone-number reputation service. All AntiFraud HUB services are accessible via web interface and/or API. Adjacent to AntiFraud HUB, EMA operates the Open API Group (open banking standards via the Open API HUB, co-developed with GD Next), EMA Academy (professional education including the mini-MBA Digital Finance 4.0), and a public-facing Cyber Safety School (articles, games, blacklists, CheckMyLink) for citizen fraud awareness. The association also convenes the annual Payments & Security Conference (26th edition), the quarterly Forum of Payment Security and Credits (ФБРіК), and the Open Finance & Payments Summit. EMA represents Ukraine in the European Association for Secure Transactions (EAST).

Differentiator

Problem solved

Functional benefit

Brands

• AntiFraud HUB: Interbank fraud information exchange system providing services including BDI (Database of Incidents), CrimeCheck, Mobile Check SIM verification, Cardholder Verification, and card blocking services.
• EMA Academy
• Open API Group
• ФБРіК (Forum of Payment Security)
• Cyber Safety School (Школа кібербезпеки)
• Здолай Шахрая
• CheckMyLink

Products and services

• AntiFraud HUB Flagship fraud-prevention platform enabling 60+ financial organizations (banks, MFOs, payment companies, marketplaces, gambling operators) to share fraud intelligence through interconnected services including the Drop and Incident Database (БДІ) with 45,000+ incidents, CrimeCheck, Mobile Check, Cardholder Verification, Card Blocking Service, and CSIRT-NBU phone-number reputation service. Accessible via web interface and API.
• Mobile Check (Сервіс перевірки заміни SIM-картки) SIM-swap verification service within AntiFraud HUB that enables banks and financial services to verify whether a client's mobile phone number has undergone a SIM replacement before authorizing high-risk operations. Queries APIs of Kyivstar, Vodafone, and Lifecell through AntiFraud HUB as a routing layer.
• Cardholder Verification (Сервіс верифікації держателя платіжної картки) Interbank API service enabling financial companies (initially micro-credit providers) to confirm that the cardholder requesting a credit payout or linking a card matches the registered account holder. Routes verification requests through AntiFraud HUB to the card-issuing bank to prevent fraud involving stolen identity documents.
• CrimeCheck

Quantifiable outcome

• Mobile Check saved an average of UAH 397,000 per client per incident prevented
• +4 more outcomes

Named customers19 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

AI capability5 records

Feature7 records

Partnerships

20 partnerships are on record, tiered flagship, core and minor.

• dev.uaflagshipStrategic or Co-development Partner · 7 July 2026EMA and dev.ua launched a joint special project on cybersecurity and digital fraud prevention in July 2026. The project includes analysis of real court cases, expert analytics on cybercrime trends, step-by-step instructions for recognizing phishing, and interactive content. Dev.ua analyzed the court register to document how fake government payment scams (OОН, єПідтримка) work as multi-stage hacking operations.
• UKRSIBBANK (BNP Paribas Group)coreStrategic or Co-development Partner · 2 July 2026UKRSIBBANK co-hosted the quarterly Security Forum (ФБРіК) on July 2, 2026 alongside Mastercard. The forum gathered the entire Ukrainian payment market: banks, payment companies, MFIs, marketplaces, Cyberpolice, NBU, SBU, and international partners to discuss evolving fraud schemes and community response.
• MastercardcoreStrategic or Co-development Partner · 2 July 2026Mastercard supported and co-hosted the quarterly Security Forum in July 2026. Mastercard is also developing technologies against remote card attacks. EMA represents Ukraine in EAST (European Association for Secure Transactions) and participates in Mastercard-coordinated international fraud prevention initiatives.
• GD Next GmbH (Ukrainian-Swiss company)coreTechnology or Integration · 1 September 2024EMA and GD Next presented Open API HUB in September 2024 – the technological foundation for open banking development in Ukraine. GD Next provides the technological implementation for the shared open banking platform.
• PaySpace Magazine (as TechFin Summit partner)coreGTM or Marketing Partner · 1 July 2021PaySpace Magazine, Ukraine's leading payments and fintech publication, partnered with EMA for TechFin Expert Summit on July 22, 2021. PaySpace Magazine organized the event; EMA Director Olexandr Karpov moderated the 'Techfin in Ukraine' panel.
• 4bill.iocoreTechnology or Integration · 1 June 2021Cardholder Verification service was launched in partnership with payment service 4bill.io in June 2021. 4bill uses the service to extend its 4BSecure anti-fraud package solution for merchants, helping microfinance organizations reduce loan fraud risks.
• University of Banking (Університет банківської справи)flagshipStrategic or Co-development Partner · 1 June 2021Partner in the mini-MBA 'Digital Finance 4.0' program, organized by the Business School of the University of Banking. EMA participated as a partner, providing industry expertise on payments, cybersecurity, and open banking. First cohort graduated in June 2021 with 23 participants.
• Mastercard (as mini-MBA partner)flagshipStrategic or Co-development Partner · 1 June 2021Mastercard was the General Partner of the mini-MBA 'Digital Finance 4.0' program. Program was created with support of NBU and Ministry of Education. Mastercard contributed expertise on open banking module.
• Cisco (as mini-MBA partner)coreTechnology or Integration · 1 June 2021Cisco provided the cybersecurity module 'Cybersecurity in the Era of Open Banking' for the mini-MBA program, contributing expert practitioners with international experience.
• Golden Dimension (as mini-MBA partner)coreTechnology or Integration · 1 June 2021Golden Dimension provided the 'Open Banking' module and international certification for the mini-MBA program graduates.
• VAFA (Ukrainian Leasing Association)minorStrategic or Co-development Partner · 14 May 2021Memorandum of partnership signed in May 2021 between EMA and the Ukrainian Leasing Association (ВАФК).
• Digital Ukraine AssociationminorStrategic or Co-development Partner · 1 April 2021Partnership memorandum signed in March 2021 for cooperation on digital transformation and cybersecurity initiatives.
• PayoneerflagshipGTM or Marketing Partner · 16 March 2021Payoneer became a Premium Partner of EMA Association as of March 2021. Payoneer is a global payments technology company providing cross-border payment services.
• KyivstarcoreTechnology or Integration · 10 February 2021Kyivstar and EMA united to fight cybercrime. The partnership enables Mobile Check service – an API/web service for banks to verify SIM card replacement status before high-risk operations. Mobile Check covers all three major Ukrainian operators including Kyivstar.
• GC3 (Global Cyber Security Capacity Centre)minorStrategic or Co-development Partner · 4 January 2021Memorandum of partnership signed in January 2021 between EMA and GC3 for cooperation on cybersecurity capacity building.
• Cyberpolice of Ukraine (Кіберполіція)coreStrategic or Co-development Partner · 1 June 2020Memorandum of cooperation signed in June 2020 between EMA and Cyberpolice. Cooperation includes sharing fraud incident data, coordinating fraud domain blocking, and joint educational campaigns. Cyberpolice provides operational support for stopping fraudulent fund withdrawals.
• Vodafone UkrainecoreTechnology or IntegrationMobile Check service integrates with Vodafone's API to enable banks and financial services to verify whether a client's SIM card has been replaced. Vodafone is one of the three mobile operators covered by the service.
• LifecellcoreTechnology or IntegrationMobile Check service integrates with Lifecell's API to enable SIM replacement verification. Lifecell is one of the three mobile operators covered by the service alongside Kyivstar and Vodafone.
• EAST (European Association for Secure Transactions)coreStrategic or Co-development PartnerEMA represents Ukraine in EAST, attending annual congresses with reports from 19 countries. EAST membership provides early warning on international fraud trends before they reach Ukraine. ATM attacks are declining globally while digital fraud and psychological manipulation increase.
• CSIRT-NBU (National Bank Computer Emergency Response Team)coreTechnology or IntegrationCSIRT-NBU operates a phone number reputation service where banks report fraudulent calls. EMA helps CSIRT-NBU connect participants who are not ready for direct API integration through AntiFraud HUB interfaces. Tens of thousands of reports generated in first month from just two banks.

Scale indicators12 records

Recent moves6 records

Expansion highlights6 records

Emerging players

• Featurespace: UK-based vendor of adaptive behavioral analytics (ARIC platform) for fraud detection and risk scoring, widely used by banks and payments firms. Comparable technology overlap with EMA's anomaly-detection and incident-database capabilities, though Featurespace is a commercial SaaS rather than a membership model.

Broad incumbents

• NICE Actimize: Enterprise vendor of financial crime, risk, and compliance platforms widely used by large banks for AML, fraud, and transaction monitoring. Comparable scope (cross-bank fraud/AML analytics) but as a commercial product rather than a member-coordinated utility like EMA's AntiFraud HUB.
• Mastercard (Decision Intelligence, Safety Net): Global payment network operating proprietary fraud-prevention rails (Decision Intelligence, Safety Net) and an EMA Board member. Comparable as a provider of fraud intelligence at scale, though Mastercard operates its own network as a closed system rather than an interbank community.
• Visa (Visa Advanced Authorization, Visa Token Service): Global payment network with embedded fraud-prevention products integrated by issuing/acquiring banks; EMA Board member and Platinum sponsor. Comparable broad incumbent with overlapping fraud-intelligence capability, though commercial rather than cooperative.

Direct peers

• CIFAS: UK-based nonprofit fraud prevention membership organization operating the National Fraud Database, where 500+ member organizations share fraud data for cross-institutional defense. Directly comparable to EMA's AntiFraud HUB model of collective fraud intelligence, AML support, and member-funded governance.
• FS-ISAC (Financial Services Information Sharing and Analysis Center): US-based, member-funded information-sharing organization for the global financial sector, providing real-time cyber and physical threat intelligence. Comparable in mission (collective defense for financial institutions) and operating model (membership tiers, threat-intelligence sharing, working groups) to EMA's AntiFraud HUB community.
• EAST (European Association for Secure Transactions): European nonprofit association coordinating payment-security and ATM fraud intelligence across 19+ countries; EMA already represents Ukraine in EAST. Closest structural peer — same interbank-coordination mission, same fraud-statistics publication model, same quasi-regulatory role.
• The Knoble: US-based nonprofit network of financial-crime professionals focused on fraud prevention and consumer protection. Comparable to EMA as a smaller, member-coordinated nonprofit addressing financial fraud through cross-institutional collaboration and public education.
• NCFTA (National Cyber-Forensics and Training Alliance): US public-private partnership that enables fraud/cyber intelligence sharing among financial institutions, academia, and law enforcement. Directly comparable to EMA's memorandum-based cooperation with Cyberpolice of Ukraine and its role routing banks to CSIRT-NBU.
• APWG (Anti-Phishing Working Group): International industry association focused on unifying the global response to cybercrime and phishing. Comparable to EMA's anti-phishing research, CheckMyLink service, and BlackList EMA database as a neutral coordinating body for cross-sector fraud response.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UCU1_tNTwVAkkNxl2vz6mofA
• Facebookfacebook.com/ema.com.ua
• LinkedInlinkedin.com/company/ukrainian-interbank-payment-systems-member-association-ema-

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about EMA