Banks with basic licenses intent to outsource a number of independently performed IT processes to Rostelecom to expand the digitalization of banking, according to the Association of Russian Banks (ADB).
This concerns software development, solutions for connecting to the Unified Biometric System (UBS), cooperation with freelance IT employees, software testing, and improving information security.
ADB sees the main advantages of outsourcing in the expansion of services offered, lower capital costs, and high speed of product launch. However, the disadvantages include the high cost of services, dependence on a third-party provider, and difficulties in ensuring data protection and control of access to them.
Rostelecom is considering a proposal from ADB regarding the creation of a unified solution for small and medium-sized banks. Currently, an assessment of banks’ interest in such a system, as well as the economic effect for the project participants, is underway.
National University of Science and Technology MISiS