Financial institutions of the Russian Federation will exchange information …

Financial institutions of the Russian Federation will exchange information … post thumbnail image

This initiative is being developed by the Bank of Russia.

Companies participating in financial markets will exchange customer data. Izvestia wrote about this with reference to the information received from the interlocutor.

  • The Bank of Russia is developing the concept of exchanging customer data between financial institutions. This initiative is supported by the Association of Banks of the Russian Federation.
  • As the Central Bank understands, financial organizations must establish an impersonal exchange of information about customers. Market participants will be able to transfer data with the consent of its users.
  • The aim of this initiative is to increase competition between representatives of financial markets. In addition, data exchange, according to the regulator, will increase the availability of credit institution services. These initiatives may also lead to the emergence of new financial instruments for citizens and businesses.
  • As part of the initiative, the Bank of Russia invites market participants to exchange information about loans, account balances, income levels and transaction activity of users.
  • The regulator plans to transmit data via an open program interface.
  • Central Banks draw attention to the fact that market participants will be able to give competitors access to their notes on a commercial basis.

We will remind, earlier on the network there was information that the Bank of Russia found a way to suppress crypto exchangers.

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