Raiffeisenbank and Slavneft, Russia’s oil and gas company, have begun cooperation using the Transit 2.0 financial message exchange platform run by National Settlement Depository (NSD).
This service allows the bank’s corporate clients to manage accounts via a single interface, and to quickly exchange financial documents (payment instructions, account statements, and other documents).
“Corporate clients can receive all the necessary financial documents at Raiffeisenbank. Integrated solutions allowing businesses to conduct settlements with many counterparties via a single window facilitate the process of interacting with banks and managing multiple settlement accounts. It saves resources and increases transaction reliability. Slavneft is the first company to utilize our offer. We expect that very soon the company will see the advantages of working with the bank using the single window principle via Transit 2.0,” said Maria Ilyina, Leading Manager of the Corporate Settlement Product Department, Raiffeisenbank.
“Slavneft’s experience in interacting with other banks via Transit 2.0 shows that it is possible to really save time and resources. As a major corporation with well-developed payment structure and settlement accounts opened with several banks, we are eager to exchange documents with all transaction participants using the unified system as part of one transaction. We are happy to see that the number of banks which have joined NSD’s platform is growing,” added Timur Kudoyarov, Head of the Banking Transactions Unit of the Corporate Finance Department, Slavneft.
“Connecting one more bank to the platform shows us that financial institutions and corporations have strong demand for NSD’s solution. Scaling the platform increases the positive effect of the Transit 2.0 project – the optimization of settlement and payment processes,” summed up Alexander Nam, Managing Director for IT Services, NSD.