Central Bank will pay Yandex tens of millions to display banks and insurance on cards

In early August 2021, it became known that Yandex.Maps will display official access points to financial services noted by the Bank of Russia. The regulator will spend 62 million rubles on the implementation of this project, Vedomosti writes with reference to the procurement documentation.

By August 3, 2021, both ATMs and banks can be found on Yandex.Maps, but the information is provided either by the organization itself or from open sources. According to the regulator, the main difference will be that the information that the Central Bank transmits is official.

The Central Bank will pay Yandex 62 million rubles for displaying banks and insurance on cards

After the introduction of the Central Bank data, all categories of access points to financial services will be displayed on the map: offices and remote service points with employees of all financial organizations (MFIs, banks, PDAs, pawnshops, brokerage and insurance companies), as well as post offices, ATMs, cashless payment terminals and cash-out points (cash to customers at cash registers in stores).

This data will be integrated into the browser and mobile versions of Yandex.Map with a branded section, the representative of the regulator explained. The creation of a branded section will make it possible to uniquely identify the belonging of the data on the map to the Bank of Russia. The card itself will also be displayed on the official website of the Central Bank and in the mobile application "Central Bank online." Access points to financial services from the Central Bank will have priority when searching for cards (provided that they are relevant to the user's request).

According to Mikhail Burmistrov, general director of Infoline Analytics, cooperation with the Bank of Russia is promising for Yandex, it will increase the quality of data on linking to organizations. In turn, the Central Bank seeks to increase comfort and reduce the costs of users of banking services. This will also benefit financial organizations - they will become more motivated in the fight for the client.^[1]

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