A socially oriented non-financial development institution and a major organizer of nationwide and international conventions; exhibitions; and business, public, youth, sporting, and cultural events.

The Roscongress Foundation is a socially oriented non-financial development institution and a major organizer of nationwide and international conventions; exhibitions; and business, public, youth, sporting, and cultural events. It was established in pursuance of a decision by the President of the Russian Federation.

The Foundation was established in 2007 with the aim of facilitating the development of Russia’s economic potential, promoting its national interests, and strengthening the country’s image. One of the roles of the Foundation is to comprehensively evaluate, analyse, and cover issues on the Russian and global economic agendas. It also offers administrative services, provides promotional support for business projects and attracting investment, helps foster social entrepreneurship and charitable initiatives.

Each year, the Foundation’s events draw participants from 208 countries and territories, with more than 15,000 media representatives working on-site at Roscongress’ various venues. The Foundation benefits from analytical and professional expertise provided by 5,000 people working in Russia and abroad.

The Foundation works alongside various UN departments and other international organizations, and is building multi-format cooperation with 173 economic partners, including industrialists’ and entrepreneurs’ unions, financial, trade, and business associations from 78 countries worldwide, and 179 Russian public organizations, federal and legislative agencies, and federal subjects.

The Roscongress Foundation has Telegram channels in Russian t.me/Roscongress, English – t.me/RoscongressDirect, and Spanish t.me/RoscongressEsp. Official website and Information and Analytical System of the Roscongress Foundation: roscongress.org.

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В рамках ПМЭФ-2019 обсудят развитие финансовых технологий

Sessions addressing the development of the financial industry and some of its problems will be held as part of the business programme of the St. Petersburg International Economic Forum.

The session ‘Development of the Financial Services Ecosystem: How Big Data and Technology Are Changing the Market’ will deal with issues concerning the development of e-wallets and the changing role of those involved in the payment market. The discussion will be attended by: National Payment Card System CEO and Chairman Vladimir Komlev and Chairman and CEO Ant Financial Services Group (Alipay) Eric Jing. The session moderator will be Match TV General Producer Tinatin Kandelaki.

These days, e-Wallets are increasingly becoming the nexus between buyers and sellers, coming to the fore of payment processes. At the same time, you still need a card and bank account to replenish your wallet, and the level of penetration and availability of financial services can by no means be described as high everywhere.

«Technological development is rapidly changing the entire payment industry, from the mechanics of the payment process itself to people’s payment behaviour. Mobile payment services, rapid payment services, and e-wallets are gaining more and more popularity. At the same time, questions remain about such issues as the development of the infrastructure needed to accept various modern payment methods, the different level of financial accessibility, and the role of those involved. How will they continue to change in the near future, who will have an easier time interacting with the client, and who will have to discover themselves again in this industry», said Vladimir Komlev, CEO of NPCS (the operator of the Mir payment system).

The session speakers will talk about how the roles of the participants in the payment market have changed with the proliferation of e-wallets, what place payment card systems hold in the modern world, where banks are shifting their functionality, as well as the importance of big data analytics and customer experience in payments today and in the future.

The future of financial centres will be discussed during the session ‘How Can Financial Centres Survive in the Era of FinTech?’ The session will be moderated by Russia 24 TV channel economic commentator Nikolay Korzhenevsky. Speakers will include: Moscow School of Management SKOLKOVO Dean Marat Atnashev; First Freight Company (PGK) Chairman of the Board of Directors and Independent Director and Chairman of the Board of ‘Forum’ Analytical Center Alexander Voloshin; Moscow Exchange Chairman of the Supervisory Board and Rosneft Member of the Board of Directors and Independent Director Oleg Vyugin; Frankfurt Main Finance eV Managing Director Hubertus Vaeth; Paris Europlace CEO Arnaud De Bresson; IBS Group President Anatoly Karachinsky; and PwC Global Chairman Bob Moritz.

The development of financial technologies changes the usual models of provision of financial services, leading to deeper changes in the economic structure of society, including transformation of the existing model of financial centres. Nowadays major IT companies have become the biggest financial institutions, leading to depreciation of localization in the near future. The meeting participants will discuss whether financial companies and financiers are going to disappear from the urban environment, what Moscow’s potential is as a fintech centre, how will the financial industry’s transformation impact the urban economy, and whether financial centres will become fintech centres?

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