Guidelines for the Development of the Russian Financial Market
Bank of Russia
BANK OF RUSSIA: OVERVIEW
The Central Bank of the Russian Federation
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FINTECH (1)
Russia provides a favorable environment for FinTech development
Goals of the Bank of Russia as a high-tech regulator
Facilitate the competition in the financial market
Enhance accessibility, quality and range of financial services
Lower risks and costs in the financial market
Advance the level of competitiveness of Russian technologies
Key areas of development
1. Legal regulation of FinTech, including protection of consumer rights and security of personal data
2. Development of digital technologies in the financial market and development of digital infrastructure
3. Transition to electronic interaction between the Bank of Russia, government, market participants and
their clients
4. "Regulatory Sandbox" for experimentation with innovative financial technologies, products and services
5. Cooperation within the Eurasian Economic Union and development of single payment area for member
states
6. Ensuring technological safety and sustainability in FinTech implementation
7. Development of human resources in the financial marketView entire presentation