Financial IT Solutions Repository

History

2024

How the repository helps banks in Russia - TA opinions

After foreign IT companies left the Russian market, domestic financial companies faced the need to quickly find and implement new solutions that would comply with regulatory requirements, while being effective and safe. In addition, at the initiative of the Central Bank of the Russian Federation, the FinTech Association (AFL) launched a specialized repository of financial IT products. The main incentive for its creation was the decree of Russian President Vladimir Putin that by January 1, 2025, banks, as owners of critical information infrastructure, must complete the transition from foreign software to domestic software. TAdviser interviewed banks and IT market participants to understand how useful and in demand this initiative is.

According to Pavel Svarnika, Executive Director for Technology Strategy of MTS Bank, the repository of IT solutions plays an important role, since it allows functional customers and technical experts within the bank to most effectively update their view of the current state of the market of a particular class of products. As the task of migration to domestic products expands into niche and specific areas, the demand for the repository will multiply, the interlocutor of TAdviser is sure.

Our experience shows that using the repository allows specialists responsible for replacing specialized products to quickly immerse themselves in the context and choose the most suitable analogues or entire technology packages, Svarnik added.

The press service of Pochta-Bank told TAdviser that the repository, with good content, can become an almanac for IT solutions for each industry with good filtering by processes, directions, etc. The demand will be higher when more popular programs appear in it, for example, the list of 1C-based solutions will expand, the Post Bank emphasized.

According to Konstantin Usakovsky, Head of Work with the Largest Financial and Telecommunication Organizations of Softline Group of Companies, the repository of financial IT solutions is more informational and search in nature and serves as a platform for exchanging information on proven and certified solutions for the financial industry between market participants - suppliers and end customers (banks, insurance companies and NPFs), makes it easier to find the necessary solutions for the financial industry among many others.

According to Usakovsky, the additional value for users is that in addition to the storage of solutions, tools for joint testing and development are implemented on the platform.

All solutions are structured very clearly and accessible to users, which makes it a good source of information for understanding the general state of the market, its fullness, development opportunities and dynamics, "he stressed.

Ilya Gorshkov, Managing Director for Information Technology at VESNA, is confident that the IT repository, which was created by the AFL association, is in demand among banks, and it stimulates IT companies to develop new products, which will have a positive effect on the market and increase competition. However, the peak of the repository's popularity among banks is expected only in the third year of its existence, the expert believes.

Vasily Kutz, Director of Industry Solutions at Commercial Banks K2Tekh, drew attention to the fact that the solutions included in the Central Bank repository are selected for compliance with information security and must comply with relevant regulatory requirements and standards, for example, the international PCI Data Security Standard (PCI DSS) for protecting payment card data. Solutions are subject to technical and architectural checks, independent audits to assess their resistance to various types of cyber attacks. After being included in the repository, repeated checks and tests are periodically passed.

This increases confidence in listed products among market participants. Financial institutions save time that they would spend searching, evaluating and testing and can innovate faster and improve business processes, "Kuc added.

Include in DataSan Repository

The company Performance Lab"" on October 18, 2024 announced the inclusion of its depersonalization product data DataSan in the repository. FinTech Associations (AFL) More. here

Inclusion in the Marlin platform repository

The company's flagship product, HD Tech the development automation platform, ON Marlin is included in the Solution Repository IT for. financial industries FinTech Associations (AFL) Now companies in the financial sector have a comprehensive platform solution to optimize the development and operation process. The software developer announced this on August 29, 2024. More. here

Inclusion in the R-Vision VM Repository

On May 14, 2024, R-Vision announced that R-Vision VM technology for the vulnerability management automation system was included in the registry of IT solutions of the FinTech Association Repository on April 25, 2024 (register number - AFT0270). Read more here.

Inclusion in the R-Vision SIEM Repository

R-Vision On March 19, 2024, the company announced the inclusion of the R-Vision solution SIEM in the Repository ("FinTech Associations" AFL Repository). This repository contains verified - INFORMATION SECURITY products that are recommended to be used within the framework of import substitution. financial industries R-Vision SIEM Entered in the AFL register on March 15, 2024. The registry number is AFT0247. More. here

2023

Start Repository

At the end of August 2023, it became known about the launch of the repository of IT solutions for banks, which was created by the FinTech association. The main goal of the project is to consolidate information about available Russian and independent IT solutions for financial industry organizations.

By the end of August 2023, the repository is at the stage of early access - members of the FinTech association can already access IT solutions hosted on this platform.

In 2023, developers will integrate IT classifier cards for different market sectors, test protocols, data visualization and advanced search capabilities into the project. In 2024, the association expects to introduce business intelligence services and registers of safe and unsafe resources into the project.

The FinTech association believes that one of the main functions is IT solution cards. At this stage, the functionality of maintaining directories and their synchronization with the Unified Register of Russian Software (ERRP) from the Ministry of Digital Development of the Russian Federation has been implemented. It is planned to add the ability to copy the same type of information from existing IT solution cards and check the integrity of the data with the corresponding data from the EPRP.

Ivan Panchenko, Deputy General Director of Postgres Professional database management systems developer, said that the development of several repositories indicates competition in the market, and Russian services similar to GitHub are in demand, and the companies decided to meet demand.

Most large companies have and use internal code repositories - it is more profitable and convenient for them, and public repositories are not used at all or are used for a limited number of secondary tasks. Postgres Professional fully relies on its software infrastructure, we simply do not need third-party repositories, "he said.[1]

Creating a System

On March 2, 2023, Olga Skorobogatova, First Deputy Chairman of the Board of the Central Bank of Russia, announced the creation by the regulator of a repository of IT solutions for the financial industry.

It is expected that the repository will contain proven and proven IT solutions for all functions of banks and financial intermediaries. Also on this site, IT manufacturers will be able to offer customized solutions if they are needed.

The repository was created on the basis of the Fintech Association

We completed on the basis of the Association of Financial Technologies, colleagues, the creation of a repository for Russian solutions, open source solutions that are safe for our use, - said Skorobogatova at a meeting of the Central Bank leadership with bankers organized by the Association of Banks of Russia (ADB). Her words are quoted by Interfax.

According to the deputy chairman of the Central Bank, the Bank of Russia is ready to provide this repository to the Association of Banks of Russia, as well as place it in the public domain for all banks and participants, "because all existing IT solutions are grouped there or developed in terms of functionality that are needed for market participants and not only banks."

Open source software () Open Source can carry risks and will be tested, Skorobogatova said, answering the question of how banks will be able to make sure such solutions are safe. The regulator considers the certification mechanism as possible methods of such verification.

According to the agency, the need to create a repository of IT solutions for the financial industry arose after most foreign software suppliers left the Russian market in the spring of 2022. Against this background, the number of requests from banks to the Central Bank with requests for where to take the necessary IT solutions has increased.^[2]

Notes