Preparedness Strategies: Multiservices and Technologies in the Public and Private Sector
State should help businesses create infrastructure services, but not impede competition
Those platform solutions that are developing, and the platform economy is developing, can only be financed by major players. If the state does not interfere, we can end up with one or two players. Less than three is no longer competition. In the next stage, consumers will pay more, as they always pay for the monopoly — Elvira Nabiullina, Governor of the Bank of Russia.
All this [infrastructure platforms] is possible due to state infrastructure, due to the interaction with the banking sector — Anton Kotyakov, Minister of Labour and Social Protection of the Russian Federation.
As long as the state does not interfere in business and pricing issues at the created platforms, I believe this is a good thing. This leads to the demonopolization of the market. In addition to the fact that large players lose to the business disruptor, the disruptors get the opportunity to transform — Vladimir Verkhoshinskiy, Chief Executive Officer, Alfa-Bank; Member of the Supervisory Board, Alfa Group Consortium.
Overdemand for high-tech services increases the number of transactions and the competition level in Russian banking
We have a rather large number of services (and these services will grow), where users make many transactions. First of all, this is a large and frequently used service Yandex.Taxi. By the way, the development of the taxi industry has led to an increase in transactions in the country, because people are used to linking cards to services — Tigran Khudaverdyan, Managing Director, Yandex Group of Companies.
We believe that this [services] does not kill competition, but in some cases makes the work of people and the state – unification at the level of payments, allocation of budget funds – much more efficient; the rate of money turnover grows significantly. This leads to an increased competition — Vladimir Komlev, Chief Executive Officer, National Payment Card System.
Most companies cannot develop services by themselves, whereas the state cannot match business in terms of infrastructure
A significant number, most of the market players cannot develop such services on their own. This is one of the indicators. They cannot do this due to the large amount of financial resources needed — Elvira Nabiullina, Governor of the Bank of Russia.
We saw that executive authorities have serious problems with infrastructure. It is explained by the fact that often to make a payment decision we need a very close interdepartmental interaction between different information systems and resources of government bodies — Anton Kotyakov, Minister of Labour and Social Protection of the Russian Federation.
It is necessary to create components of national infrastructure and platforms that unite banks
Taking geopolitical risks into account, we must have components of the national infrastructure. So we created… the National Payment Card System on the territory of Russia – a 100% subsidiary of the Central Bank. The Mir card evolved this way. We cannot ignore these factors — Elvira Nabiullina, Governor of the Bank of Russia.
The question of [the need to] create services that are equidistant. When a platform is created that can be joined by any banks. We call such platforms super-bank ones — Vladimir Komlev, Chief Executive Officer, National Payment Card System.
The state needs to look up to commercial services in terms of the level of financial services
Today, if we compare the level of services in the commercial sector, our citizens request the same level [from the state] — Anton Kotyakov, Minister of Labour and Social Protection of the Russian Federation.
Our client should not feel the difference. If they get services from the Federal Treasury, these services should be provided the same way as by credit institutions. This is our objective that we are successfully accomplishing together with the Central Bank — Roman Artyukhin, Head, Federal Treasury.
The material was prepared by the Russian news agency TASS