Banking technologies

Sberbank invests in VisionLabs to build “unique biometric identifier”

December 15, 2021

Last week Sberbank, Russia’s national savings bank, announced an investment in VisionLabs, a Russian startup specializing in facial recognition, data analysis and robotics. The deal, the terms of which remain undisclosed, aims to support VisionLabs’ expansion on the international markets, including Europe, the USA and Asia. Sberbank has acquired a 25.07% stake, the remaining shares belonging to …

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Yandex.Money and Lukoil launch new app to make payments at gas stations easier

November 13, 2017

Last week Yandex.Money, a leading online payment service in Russia, released Yandex.Gas, a new application intended for drivers to pay for fuel remotely — without leaving their car and queueing at the cash register. Payment can be made with the Yandex.Money e-wallet or using a Mastercard bank card. Yandex.Money plans to expand the range of available payment …

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Russian bank to support Blockchain-based procurement and teach Blockchain to government officials

December 23, 2018

Vnesheconombank (VEB), a major Russian state-backed bank and a key participant in the country’s official digital economy program, intends to teach government officials the science of Blockchain. The 18-hour “Introduction to the Blockchain Technology” will include both theory and practice. The launch date has not been specified. Just weeks before, the bank signed with Roseltorg, …

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MegaFon and Raiffeisenbank complete first Blockchain bond placement in Russia

October 31, 2017

Earlier this month MegaFon, a major Russian mobile operator, announced the completion of a 500 million ruble (around $8.6 million) bond issue with Blockchain settlement. The entire issue was purchased by Raiffeisenbank. The system, which was developed in the course of this year, is intended for bond placement and circulation of digitized assets, making accounting …

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Russian and international funds team up to support “the ultimate personalization engine for banks”

October 23, 2017

Last week DataSine, a Russian-co-founded startup based in London,  announced that it secured €1 million for its business expansion. The pool of investors included Sistema VC, the venture arm of the Russian conglomerate Sistema, Force Over Mass, a London-based venture fund, and C.Entrepreneurs, a joint venture of Cathay Innovation and BNP Paribas Cardif. DataSine’s proprietary …

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Sberbank joins Enterprise Ethereum Alliance

October 19, 2017

Earlier this week Sberbank, Russia’s national savings bank, announced its participation in the non-commercial alliance Enterprise Ethereum Alliance (EEA). The bank is the first Russian bank to become a member of the alliance. EEA was established in February 2017 to “connect Fortune 500 enterprises, startups, academics, and technology vendors with Ethereum subject matter experts.”  Some …

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Cryptocurrency ATMs spring up in Siberia

September 22, 2017

BBFpro, a Novosibirsk, Russia-based bitcoin selling company, has installed ten cryptocurrency ATMs in the city, as reported earlier this month by the Russian media based on company statements. To create the new terminals, the company has rewired traditional ATMs. These have been installed in beverage shops, where the rent is twice lower than in shopping …

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Sberbank calls Russian programmers to develop next-gen in-memory solutions

February 12, 2019

In a new demonstration of its commitment to develop or integrate the newest technologies, Sberbank, Russia’s national savings bank, has announced a competition for Russia-based IT developers to create new prototype solutions enabling the provision of financial services in real time. The bank is leaving it to competition participants to pick areas of solutions applications. The only …

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Russian banks look to a Blockchain future

December 24, 2018

Two months after President Vladimir Putin met the founder of ethereum — the world’s biggest cryptocurrency after bitcoin — a consortium of the country’s biggest banks has developed a distributed ledger dubbed Masterchain. This ledger uses a modified ethereum protocol while complying with national security standards, according to the country’s central bank-backed FinTech Association. The lenders, including Sberbank PJSC and VTB Group, are hoping that by adopting …

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New crypto platform helps you launch your own tokenized investment fund

August 31, 2017

Blackmoon Financial Group, a US financial technology and investment management company with Russian roots, today announced the launch of a Blockchain-based platform for tokenized vehicles. The Blackmoon Crypto platform presents itself as “a one-stop solution for asset managers to create and manage legally compliant tokenized funds.” From technology and infrastructure to legal framework and corporate …

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Russian mobile acquiring leader Smartfin secures $3 million for further R&D and potential M&A

July 28, 2017

Smartfin, a Moscow-based provider of mobile acquiring solutions for SMBs (operating under the brands 2can and ibox), has secured $3 million from several funds under the management of Da Vinci Capital. Inventure Partners, one of the early investors in the company, also took part in the round, which was announced earlier this week. “Since our first investment in 2can and ibox, the …

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Fintech: A Russian revolution is coming

July 23, 2017

Russia is the world’s third largest financial technology market and bankers at the annual sector conference in St Petersburg this year said they are continuing to roll out new cutting edge services as the need for digitization is becoming urgent. Russian President Vladimir Putin made digitization a centerpiece of this year’s St Petersburg International Economic Forum (Spief), …

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