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The Central Bank of the Russian Federation

Ministry of Finance and the Central Bank Present Strategy for Financial Market Digitalization through 2030

September 13, 2021, 18:11 (UTC+3)|
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The Ministry of Finance and the Bank of Russia have developed the strategy for the development of the financial market through 2030.

According to the document, during this period, the introduction of open APIs will continue, including in the payment field. The transition to open banking is also planned, with the concept of open finance to be implemented later. At the same time, the ministry and the regulator plan to improve the system of identification of clients receiving services in a remote format.

Moreover, promoting the widespread use of AI in the financial market will become one of the strategic objectives of market development, the authors of the document note. This includes developing robotic assistants for informing clients, as well as introducing robotic arbitration.

The launch of the digital ruble will also become one of the key projects in the field of digitalization of the sector until 2030. The development of the national payment system and machine-readable regulation are also among the priority goals.

The final version of the strategy is planned to be approved later this year, according to TASS.

Original (in Russian)

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