753 views
VTB and Alfa-Bank to expand open banking pilot up to 1.5 million clients
Customers of VTB and Alfa-Bank can manage their accounts simultaneously in the two banks' apps. The focus group is currently being expanded to include up to 1.5 million clients. The banks signed the respective corresponding agreement at Finopolis 2025.
“Open banking technology, as clients see it, is very convenient: you have one banking app you like, and it incorporates most of your financial products, including prospective ones offered by other banks. VTB Online is currently used by over 28 million clients, and it's a sought-after functionality for them,” says Alexey Okhorzin, Senior Vice President and Head of Retail Products at VTB.
“For Alfa-Bank, the participation in the open banking pilot project is an important step in implementing our strategy to build the most convenient and integrated financial environment for our clients. We believe the future lies with open systems, where clients choose how and where to manage their assets,” emphasized Damir Battulin, Director for Digital Channel Development at Alfa-Bank.
Open API technology allows for the integration of various financial providers’ products and services into a single interface upon consent of the client. For example, one can securely receive and view information about debit accounts and cards of different banks in a single mobile app.