Banking and Systems Report - Russian Federation, 2nd Edition - 2007
This second edition of the Russian Federation: Banking and System Report has been completely revised and updated. Since the first edition, our reporters, alongside our own Russian correspondent, have continuously sourced on-the-ground information from key individuals from within both the banking and supplier sector in order to provide an in-depth, insightful review of what is taking place within this dynamic market.
Russia presents a host of opportunities for both domestic and foreign banks as well as for the suppliers providing them systems. If a bank or supplier is to establish a secure foothold within Russia then now is the time to do so. This vibrant market has seen a substantial growth in the consumer market, which alongside the high interest rates, promises a lucrative return on investment. Corporates are, in turn, investing in Russian banking facilities as confidence in Russian banking continues to grow. A major consequence of the increase in retail banking is the need for banks to replace their old legacy system with newer models capable of meeting the new requirements. Moreover, as international players enter or as Russian banks look to expand further into the West, they are being faced with the challenge of coping with dual banking operations. Not only do they need to contend with existing Russian banking practices but they are having to conform to Western standards if they hope to compete on an international scale.