• 12 Neglinnaya Street, Moscow, 107016 Russia
  • 8 800 300-30-00
  • www.cbr.ru
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Marketplace

The Marketplace system is a new electronic channel aimed at selling financial products; it is a reliable and user-friendly tool available 24/7.

About the project

In the context of the implementation of the Guidelines for Financial Technology Development for 2018-2020, the Bank of Russia and market participants launched the Marketplace project in December 2017. The project aims to arrange a system of remote retail sales of financial products (services) and registration of financial transactions.

The Marketplace project aims, on the one hand, to guarantee consumers equal access to the financial market, and, on the other hand, to lay the groundwork for the development of a competitive environment and the optimisation of financial services. The project’s advantages include the improvement of financial inclusion, in particular on the back of the removed geographical constraints. Consumers receive a remote 24/7 access to financial services and a wide range of financial products. The product range will include bank deposits, government and corporate bonds, shares of unit investment funds, OSAGO and mortgage loans. This offer may be further supplemented with more credit, insurance, investment and other financial products.

The project does not provide for public investment in the development of Marketplace elements, which is a truly market-based project. The Bank of Russia helps create a favourable regulatory environment for the system to run efficiently. The system’s pilot launches for top-priority financial products and the analysis of its participants’ business models will be taken into account in regulatory drafting.

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Last updated on: 23/07/2020