Interfax: Spark Register

Main article: Small business of Russia

2023

SberBusiness ID authorization capability

Sber and Interfax launched the authorization of legal entities for SberBusiness ID on the SPARK REGISTER website. This open register contains information that companies voluntarily disclose about themselves. Sberbank announced this on October 18, 2023.

This authorization mechanism not only simplifies registration and entry into SPARK, but also ensures the reliability of registration data - the bank carefully checks each legal entity using SberBusiness ID.

{{quote 'author = said Anna Loevskaya, Director of the Digital Corporate Bank Division of Sberbank. | More and more companies voluntarily open up information about themselves and understand the meaning of reputation. And that's a sign of a mature market. It is important to provide such players with convenient and safe tools. SPARK is popular with businesses, because it contains verified and most complete information about counterparties. The use of SberBusiness ID makes working with the system even more comfortable,}}

Starting the Spark Register service

The Interfax Group announced on March 17, 2023, the launch of a voluntary information disclosure service - SPARK REGISTER for small and medium-sized businesses. SPARK REGISTER is designed to simplify small companies' access to transactions with large businesses, lending, public procurement. The presentation of the service took place at the site of the Inter-Industry Council under the Commissioner for the Protection of the Rights of Entrepreneurs of Moscow.

This service is integrated with the SPARK-Interfax system. It allows companies, having passed the identification and verification procedure, to enter and update data on their activities and financial results.  

Analysis of feedback from customers of the SPARK system showed that databases there is enough information in the public about only 3% the Russian of companies. 97% of companies, including almost the entire SME segment, are in the "gray zone" for, scoring algorithms which are used to assess the reliability and creditworthiness of partners.

The lack of data increases the costs of potential SME lenders and partners to collect, process and analyze information. As a result, the attractiveness of partnership with SMEs in the eyes of counterparties remains low, their access to lending, public procurement, subsidies, factoring and leasing transactions is difficult. 

SPARK REGISTER service participants disclose exactly the data that are most in demand when searching for and choosing a counterparty: registration and contact information, information about management and beneficiaries, about goods and services, signs of financial and economic activity.  

The participant profile becomes available both through the SPARK system, which is already used by large banks, companies and organizations, and can be directly sent to a potential partner. SMEs that have joined the project can place a special sign "SPARK REGISTER Participant" on their website.

Experience gained shows that SMEs that voluntarily disclose data about themselves strengthen their reputation and gain additional opportunities for business development. In an environment where the interest of the corporate sector in cooperation with small businesses is constantly growing, the SPARK REGISTER service should become an additional link between customers and suppliers, give small companies the opportunity to declare themselves, commented on the launch of the service Vladimir Gerasimov, First Deputy General Director of the Interfax Group.

A number of preferences are provided for small and medium-sized enterprises with participation in public procurement. This is a mandatory 25 percent quota for their participation in the auction, reduced terms of payment for goods and services and the amount of security for the application, as well as other support measures. However, there are difficulties when working with the state order - in 2022, 15% of appeals related to this particular topic. The lack of reliable information on the state and operational activities of SMEs is one of the key problems of their interaction with large businesses and a barrier to development. Voluntary disclosure of SMEs about themselves has great potential, commented on the event Commissioner for the Protection of Entrepreneurs of Moscow Tatyana Mineeva.