Import substitution in banks and other critical information infrastructures. A victory no one noticed

Import substitution in banks and other critical information infrastructures. A victory no one noticed

One major bank recently dropped a phrase, which went viral in industry chat rooms: “This year we're spending less on import substitution, and in the future we'll spend even less.” The premise is elegant: there will be nothing left to substitute. However, the reality is the opposite. A formal victory is being recorded, amid a worsening decline in quality and real security. This victory will go unnoticed because it actually doesn't exist, says our regular contributor, Timur Aitov, PhD, member of the RF CCI Council on Financial Market and Investments, Chairman of the Financial Market Security Commission, Head of the Financial Technologies Digitalization Competence Center.