Yakov Sergienko, head of the consulting firm “Yakov and Partners” (partners of the former Russian division of McKinsey), believes that increased competition among Russian banks can be beneficial for the consumer. DEA News.
“We expect banks to start competing more actively for customers. I hope this will be a fight that will only benefit customers, both in terms of experience and in terms of quote,” said Sergienko.
He explained that the formulation of updated strategies is expected from both the country’s largest banks and financial institutions of medium and small banks. The advantages of Russia retain its advanced position in the development of payment systems, and open banking may become one of the trends.
Regarding cross-border settlements, Sergienko believes that with the growth and strengthening of regional settlement systems, more opportunities will open up for Russia.
Former Cuban Ambassador to Russia Julio Garmendia Peña hopedThat the Mir system will be fully operational on Liberty Island as early as 2023.