Russia

Sberbank and Alfa-Bank have made the first banking payment transaction in Russia using blockchain technology. On November 28, 2017, Megafon transferred RUB 1 million from an account with Alfa-Bank to …

M.Video (Russia’s largest consumer electronic retailer), Sberbank Factoring and Alfa-Bank have launched an open consortium aimed at the commercial use of blockchain-based technologies in the financial sector. The new platform …

Alfa-Bank, like many banks in Russia, is undergoing a digital transformation. The bank has divided this transformation into two main areas: customer-related and internal. Digitalization related to customer experiences includes …

According to a survey conducted by audit and consulting company EY, Russia is third among the top 20 largest world markets in terms of the penetration of financial and technological …

In March 2017, the Russian Ministry of Communications  promoted a draft law to change the procedure for issuing reinforced qualified electronic signature (RQES) certificates. The proposed law would move the …

A Russian law on the mandatory transition to new cash register equipment has came into force on July, 2016, with the goal of optimizing state control and better tax regulation. …

Credit institutions are constantly developing their scoring system to better prevent bad loans. To assess the solvency of potential borrowers, banks look at things such as age, social status, level …

VTB24 is making the move to a paperless office by having clients fill out applications for cash loans and credit cards on a tablet instead of on paper. Furthermore, instead …

The Bank of Russia, the Federal Financial Monitoring Service and the Ministry of Communications are working together with commercial banks to launch a pilot project for remote customer identification. The …

The Central Bank of Russia has several initiatives to facilitate interactions between banks and their customers through modern technology; however, there are many strict responsibilities for customer verification that make …

In February 2017, Sberbank launched its new ‘Tips’ service, which won the ‘EFMA Innovation of the Month’ award in March 2017.The new service was created to provide their 20 million …

A Russian bank, “Открытие”, is planning to operate a facial recognition system in its three Moscow branches. The main goals are to optimize the client service/interaction experience and shorten waiting …