10 October 15:28
Clients of VTB and Alfa-Bank can manage their accounts simultaneously in the applications of two banks. The focus group is currently being expanded to include up to 1.5 million clients. The banks signed a corresponding agreement for Finopolis 2025.
“The technology of open banking through the eyes of customers is very convenient: you have one banking application that you love, and most of your financial products are concentrated in it, including potential ones that other banks have. Now VTB Online is used by over 28 million clients, for them this is a popular functionality,” says Alexey Okhorzin, Senior Vice President, Head of VTB Retail Business Products Department.
“For Alfa-Bank, participation in the open banking pilot project is an important step in the implementation of our strategy to create the most convenient and integrated financial environment for clients. We believe that the future lies in open systems, where the client chooses how and where to manage his assets,” said Damir Battulin, director of digital channel development at Alfa-Bank.
Open API (open program interfaces) technology allows, with the consent of the client, to combine products and services of various financial providers in a single interface. For example, you can securely receive and view information about debit accounts and cards from different banks in one mobile application. The implementation of this system occurs in several stages: first, the largest banks are connected, then insurance companies and brokers will join them, and then other financial organizations.
