Raiffeisenbank underwent certification for connection to the productive version of the Decentralized Depository System

2020: Certification for connection to DDS

Raiffeisenbank reported on February 7, 2020 that it successfully underwent certification for connection to the productive version of the Decentralized Depository System (DDS) on the platform the MasterChain regarding requirements for infrastructure and information security supports. At the beginning of 2020 DDS is brought into commercial operation.

DDS is a revolutionary system for security market and its emergence was possible only as a result of active work of banks and the regulator. DDS will allow to transfer the market of mortgage mortgages to an electronic form that will undoubtedly simplify issue and service of the credits, and the secondary circulation of mortgages within transactions of securitization will push, explained Evgenia Klimova, the head of department of depository service of Raiffeisenbank

2018

Pilot transactions on issue of digital bank guarantees based on "MasterChain"

Fintekh The association (AFT) announced on December 26, 2018 TAdviser project implementation "Digital Bank Guarantees" (DBG) based on blockchain- the platform "MasterChain" created by AFT together with Bank of Russia and key participants of financial market. As the initiator of project implementation within AFT the bank acted VTB.

Raiffeisenbank together with the Ak Bars Bank and also VTB bank was carried out by a number of pilot transactions, using the TsBG system installed on nodes of banks. Read more here.

Accounting of Electronic Mortgages project with use "MasterChain"

On September 24, 2018 Association of Financial those (AFT) announced successfully started electronic mortgages Accounting project using the national blockchain- the platform MasterChain. Mortgage transactions with the electronic mortgage on the MasterChain already successfully carried out Raiffeisenbank and Sberbank.

Implementation of a case of accounting and storage of electronic mortgages in the decentralized depository system (DDS) became possible thanks to close interaction of AFT with the Bank of Russia and Rosreestr. As participant of a system in this process the file of the electronic mortgage will allow to transfer and extend inclusion of Rosreestr in DDS automatically, without use of additional external resources that significantly optimizes business process.

Rosreestr develops electronic interaction with credit institutions for the purpose of reduction of terms of a design of a mortgage and increase in security of real estate transactions. The possibility of an execution of the electronic mortgage at mortgage transactions is another step to formation of digital economy. Victoria Abramchenko, the Deputy Minister of Economic Development of the Russian Federation – the head of Rosreestr

The task of Raiffeisenbank within the pilot transaction was to analyze business process of work with electronic mortgages and to estimate what completions in the systems of bank and also normative and legal acts can be necessary for complete transition to the decentralized depository system. Introduction of electronic mortgages will influence both market participants, and clients of banks. For borrowers – this acceleration and simplification of process of a design of mortgage loans, and for banks - expense reduction on registration and storage of the relevant documents by 2-5 times. Andrey Popov, head of directorate of information technologies, board member of Raiffeisenbank

The Region company acted as depositary of accounting of the electronic mortgage issued by Raiffeisenbank.

DDS creates an environment for interaction and uniform standards, following which, banks and depositaries will be able to make processes of release, accounting and storage of mortgages by more effective. At the same time a system completely meets all requirements of the Russian legislation to safety of data, confidentiality and information security. Each participating depositary of DDS will have access only to those electronic mortgages which are transferred to it to accounting and storage. Further development of the DDS system will also allow to simplify securitization of mortgage mortgages considerably. Evgenia Klimova, head of department of depository service of Raiffeisenbank