The State Duma of Russia has enacted the law on completion of financial deals with the use of financial platforms, which allows to open on the Central Bank’s base a financial marketplace offering various services.

RBC reports that the marketplace could be launched before the year-end. It will be an electronic platform – a supermarket where users can remotely get banking, insurance and other financial services round-the-clock, regardless of their location.

The clients will need to register at the platform to get access to the services of the companies featuring on the platform. In the first stage, citizens will get access to bank deposits, securities, and insurance products. Later on, the range of services will be expanded to include loan products.

The marketplace will become one more channel for attracting clients for the participant companies. The platform solution will enable them to reduce costs on attracting and serving clients.

All operations at the “financial supermarket” will comply with the information security requirements and the operators will be included in the special register of the Central Bank.

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