Building a Strong Partnership in Fintech with Wallester

At Magnetiq Bank, partnerships play a central role in how we innovate and create value for our clients. By joining forces with Wallester, a leading fintech infrastructure provider, we are combining the stability of a licensed European bank with the agility of a technology company.

Watch the full video interview with Jelena Jurane, Head of Sales at Magnetiq Bank, and Sergei Astafjev, Co-founder and CEO of Wallester, or read on for the highlights. 

A Partnership Built on Trust and Shared Goals

What began four years ago with a need for safeguarding accounts and acquiring services has evolved into a broad strategic collaboration. Together, Magnetiq Bank and Wallester have created a platform for building innovative financial solutions at speed.

As Sergei Astafjev explains:

“We needed a great bank that could provide acquiring, IBANs, and safeguarding accounts. Magnetiq Bank had everything we were looking for – and within just a couple of months, we were up and running.”

Driving Innovation at Fintech Speed

For both Jelena and Sergei, speed is what defines success in fintech. From experimenting with new ideas to bringing products to market, agility makes the difference between keeping up and leading the way.

Jelena highlights this spirit of co-creation:

“Over time, it became about more than just services. Wallester came with bold ideas, we experimented together, gathered feedback, and moved fast into production.”

This combination of reliable banking infrastructure and Wallester’s product innovation has resulted in solutions that are not only faster and more flexible but also scalable across markets.

The Human Side of Collaboration

While technology is the enabler, relationships are the foundation. For Wallester, having direct access to Magnetiq Bank’s team has been a decisive factor.

“The most important thing is having a good relationship with your bank. With Magnetiq Bank, I know I can call anytime and get a solution,” says Sergei.

This commitment to partnership mirrors both companies’ values: when clients and their customers are satisfied, the whole ecosystem benefits.

Baltic Roots, Global Vision

The collaboration also reflects the strength of the Baltic fintech ecosystem. Estonia’s reputation for innovation and Latvia’s financial expertise create a powerful synergy that drives ambition beyond local markets. As Sergei Astafjev puts it, coming from smaller countries means working “double or triple” compared to larger markets – fueling a global outlook from day one.

Shaping the Future Together

Today, Magnetiq Bank and Wallester continue to expand their collaboration, creating modern financial services that meet the needs of today’s businesses and individuals. From streamlined payment flows to advanced card-issuing, the partnership is about building smarter, client-centric solutions.

As Jelena Jurane concludes:

“Fintech is not only about technology – it’s also about trust. Together with Wallester, we’re shaping solutions that combine both.”