Russia’s largest banking group, Sberbank, has concluded its tender to find software and processing systems developers to revamp its retail and corporate banking tech.
RosEvroBank, a top-50 bank in Russia, has created a prototype of a blockchain-based system that enables remote verification of customers for other financial institutions. The decentralised system is built on the Microsoft’s Ethereum Consortium Blockchain infrastructure.
Hackers have stolen RUB 2 billion ($31.4 million) from correspondent bank accounts at Bank of Russia, the country’s central bank.
Russia’s central securities depository NSD has implemented back-to-back settlement technology for off-exchange delivery-versus-payment transactions with securities denominated in Russian rubles. The bank accounts and transactions may be in rubles, US dollar, Euro and Chinese yuan.
Russia’s NSD central securities depository has launched a joint project with Interfax information agency to coordinate their efforts for the development of a system of assessing the fair value of financial instruments. The move is part of an ongoing government reform agenda designed to turn Moscow into an international financial centre.
Despite tensions between Russia and NATO over the situation in east Ukraine, the underlying internationalisation and reform agenda in Moscow has not changed, according to Russian broker BCS.
Russia’s Central Bank has revoked the licences of three banks as part of an effort to restore trust in the country’s banking system. The move comes as financial messaging network Swift stands defiant against a European Parliament resolution calling for the expulsion of Russia from the community.
Kazakhstan’s Eurasian Bank has launched a mobile banking service which offers basic mobile banking features to Kazakh, Russian and English=speaking customers.
As Russia’s revitalised Moscow Exchange begins to command increased attention from global investment banks and hedge funds, a new direct market access service says it can unlock trading features that may not previously have been available to many international investors.
Political turbulence in the Ukraine, Russia and Turkey this year produced disagreement between senior financial industry executives at a FIX Trading Community conference in London yesterday, with some arguing that politics should not be allowed to detract from the longer-term rise of non-western economies and others arguing the opposite.