09:26, 21 July 2020 446 views
Yandex joins FinTech Association
Yandex joined the FinTech Association as an associate member. The move was approved by the Association supervisory board.
Yandex will participate in a number of areas of the Association activity, including the retail payment space development, remote identification, development of open APIs – first of all, insofar it concerns the implementation of open banking concepts and technologies in Russia, legal regulation of the use of big data technology and electronic interaction with government information systems.
The FinTech Association was established in late 2016 on the initiative of the Bank of Russia and seven financial market participants: Sberbank, VTB, Alfa-Bank, Gazprombank, Otkritie Bank, QIWI and the National Payment Card System. The Association is aimed to do the groundwork for the digitalization of the Russian economy and to create and implement new technological solutions facilitating the development of the Russian financial market. The Association members are banks, insurance companies, telecommunications operators and payment systems.