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Financial Market Digitalization Roadmap

22.05.2015 08:00 / MIFC

Financial Market Digitalization Roadmap has been drafted by the Bank of Russia and features measures to improve e-communication in the financial market, full transition to digital workflow by market participants, their clients, federal authorities and the Bank of Russia.

The roadmap is aimed at coordinating efforts by the Bank of Russia, federal authorities, and NGOs:

- to gradually reduce paperwork in the financial market, leading to its full elimination;

- to provide equal financial market access to private individuals and market participants (irrespective of their location);

- to simplify work, improve trust, psychological comfort and security in retail financial services;

- to improve effectiveness of operations, cut non-core business expenses and, as a result, boost the financial sector’s competitive edge.

The roadmap draft was reviewed at an Government IT Commission session and approved by Deputy Prime Minister Arkady Dvorkovich.

Project Group №1