Raiffeisenbank and Slavneft begin cooperation via NSD platform
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Raiffeisenbank and Slavneft begin cooperation via NSD platform 23 June 2020Moscow Reporter: Rebecca Delaney
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Raiffeisenbank and Slavneft have initiated cooperation through the National Settlement Depository (NSD)’s Transit 2.0 platform.
The programme allows Raiffeisenbank’s corporate clients to manage their accounts with Slavneft, Russia’s major oil and gas company, under a single interface, as well as efficient transfer of financial documents, such as account statements and payment instructions.
Maria Ilyina, leading manager of corporate settlement product at Raiffeisenbank, commented: “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. 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.”
Timur Kudoyarov, head of banking transactions in corporate finance at Slavneft, continued: “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.”
Alexander Nam, managing director of IT services at NSD, added: “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 optimisation of settlement and payment processes.”
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