“Expert RA” proposed to create a fund for the development of banking IT products

MOSCOW, 20 Sep — PRIME. The financial sector support fund, through which banks could jointly finance the development and implementation of information technologies in their business, would be useful in Russia, especially for small credit institutions, Marina Chekurova, general director of the Expert RA rating agency, said in an interview with RIA Novosti.

In August, the Bank of Russia reported that it might consider creating an autonomous fund to support the financial sector, which would be formed at the expense of contributions from financial intermediaries. Then the regulator noted that support can be provided “in various forms depending on the scale of the problems”: in the form of direct capitalization through the acquisition of shares or subordinated obligations, in the form of providing capital guarantees that give the right to receive support when the financial situation of the organization worsens.

“This is a good, correct initiative. However, I see the task of such a fund in helping banks develop their business, which is becoming more and more expensive. For example, it could be a joint organization for the implementation of IT products,” Chekurova said in an interview in on the eve of the international banking forum “Banks of Russia – XXI century”.

She explained that a small bank cannot afford to spend large amounts of money on information technology, while it is no longer possible to do without such products in the current situation.

“It would be possible to jointly finance the development of such products and use them together. The form of organization of such a” common boiler “can be any – not necessarily a fund, maybe it will be a marketplace. That is, a kind of association of credit organizations to jointly solve business problems “, – suggested the head of “Expert RA”.

Read the full text of the interview on the RIA Novosti website ria.ru at 11.00 Moscow time.