In the end of February 2020, as part of the digital transformation of the treasury function of the Rosseti Group of companies, IDGC of Center and Volga Region, Rosseti’s subsidiary located in Nizhny Novgorod, Russia, conducted pilot transactions with Gazprombank and Sberbank via the Transit 2.0 platform of National Settlement Depository (NSD).
NSD, systemically important financial market infrastructure recognized by the Bank of Russia, developed the Transit 2.0 platform. NSD is a part of the Moscow Exchange Group of companies the shareholders of which include the Bank of Russia, Sberbank, VEB.RF and EBRD.
Transit 2.0 is a system that allows corporations and banks that service these companies to exchange financial messages. Developing this new multibanking service is a strategically important task focused on implementing a speedy exchange of financial messages with all counterparties. The platform unifies and standardizes participants’ interactions, and increases their effectiveness and safety.
“Implementing the Transit 2.0 platform is one of the phases of the digital transformation of Rosseti Group’s treasury function; by using it, we accelerate the operability, increase settlement reliability and safety, and improve the transparency of the group’s financial processes,” said Pavel Grebtsov, acting Deputy General Director for Economics and Finance, Rosseti.
“For Sberbank, it is important to provide clients and partners with the high-technology and up-to-date services that allow them to optimize internal processes and increase the financial management effectiveness. Using Sberbank’s Fintech API solution and our joint project with NSD, Transit 2.0 users can safely, simply and directly exchange payment instructions with banks via their own settlement systems,” added Vladimir Sitnov, Senior Vice President, Sberbank.
“Gazprombank pays special attention to the dynamic development of transaction-related businesses, in particular, to its technological transformation. Our partners will be able to process payments quickly and safely by using the new universal multibanking channel. We welcome the Rosseti Group management’s approach to the digitalization and further centralization of the treasury, and we are eager to make every effort to implement the integrated transaction-related banking solutions as soon as possible,” said Vladimir Busko, First Vice President, Gazprombank.
“We are happy that Rosseti, Gazprombank and Sberbank united to launch a pilot project based on our Transit 2.0 platform. The project’s results demonstrate the timeliness, convenience and reliability of NSD’s IT solution for financial institutions and major corporations with a wide branch network. We are sure that Transit 2.0 will let the project participants significantly optimize their settlement and payment processes, and the positive effect will increase while the platform is being scaled,” added Alexander Nam, Managing Director for IT Services, NSD.