Category: Russian Finance

Translation. Region: Russian Federation –

Source: Mainfin Bank –

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Sovcombank Press Service

In the "Best Service for Unauthorized Clients in Digital Channels" category, Sovcombank was recognized by Naumen for its accessibility of information and convenient transition from information to registration. In the "Operational CX Leader" category, DMGlobal recognized the bank for the efficiency of its internal processes, sophisticated automation of client scenarios, and channel integration.

"Real service is when you don't notice the technology, but feel only care. We're changing our approach: every click should be based not just on an algorithm, but on personal responsibility to the client. We're actively developing this area so you can feel the support of specific people, even on digital channels. Market recognition confirms that we're on the right track. Becoming a leading bank isn't about market share, but about your peace of mind," comments Ilya Radaev, Head of Customer Experience at Sovcombank.

CX Digital

The assessment covered the entire customer journey. At the acquisition stage, visibility across digital channels, ease of navigation, information completeness, and conversion of initial interest into a request were analyzed. At the purchase stage, the ease of product registration, from selecting terms to confirmation, was assessed. At the support stage, the speed and quality of service via voice channels, chats, and AI-powered assistants were assessed. At the retention stage, the level of personalization of offers, transparency of terms, ease of product management, and public feedback management were assessed. The study relied on data from more than 25 touchpoints and over 200 metrics.

erid: F7NfYUJCUneTUx3r8MD7

11:00 02/05/2026

Source: Sovcombank Press Service

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

Translation. Region: Russian Federation –

Source: Mainfin Bank –

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Why won't the Central Bank of the Russian Federation limit acquiring fees?

The Bank of Russia sees no reason to limit fees for acquiring services. The regulator conducted a study and concluded that the measure does not improve the structure of the payments market or affect prices for end consumers. Therefore, even with the restrictions in place, price reductions in stores are not expected.

"The Bank of Russia will continue to develop payment services and instruments, creating conditions for fair competition and reducing the cost of banking services," the regulator noted.

Another reason for abandoning the fee cap is that such a measure would only redistribute income from banks to small businesses. As a reminder, the Central Bank of the Russian Federation has previously capped banking service fees: in 2020 amid the pandemic and in 2022 due to the onset of the economic crisis.

What is the reason for the increase in the cost of banking services in 2026?

Discussion about supporting small businesses by limiting acquiring fees began in January 2026, prompted by the implementation of tax reform, which primarily impacted small and medium-sized businesses. Thus, the authorities introduced the following measures:

The limits for the preferential tax regimes of the simplified tax system (STS) and patent tax system (PTS) have been revised; the VAT rate has been increased from 20% to 22%; the VAT exemption for banking operations has been abolished; and taxation has been introduced for banking operations and services, including account maintenance, card issuance, PIN code changes, etc.

Tighter taxation conditions have already led some entrepreneurs to abandon their operations, while others have begun raising prices. As a result, the changes could trigger a new round of inflation and prompt the Central Bank of Russia to return to its policy of raising the key interest rate.

09:00 02/03/2026

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Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

Translation. Region: Russian Federation –

Source: Mainfin Bank –

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Why was there an increase in cash in circulation in 2025?

The increased demand for cash comes as no surprise to the industry. Russians are showing interest in this payment method for several reasons:

Internet problems – outages and disconnections are being reported amid air raid sirens, preventing card and app payments; the introduction of additional transaction controls – amid numerous stories of card and account blocking, Russians prefer cash; a reduction in the key rate – the yield on deposits and savings accounts is declining, making bank savings products less attractive to investors.

Another factor is seasonality, as the highest demand for cash was recorded in December of last year. In the lead-up to the holidays, citizens receive bonuses and additional payments, which they plan to spend. Furthermore, Russians are reluctant to keep their money in the bank during the long New Year holidays, when most branches are closed.

How did the outflow of funds from banks into cash take place?

In the first half of 2025, Russians preferred to keep their money in bank accounts, driven by favorable terms amid a high key interest rate. This trend reversed in June, as the regulator began easing monetary policy. The largest outflow of funds (836 billion rubles) was recorded in December. This is the highest level in 11 years; a higher figure (918 billion rubles) was recorded only in 2014.

"The temporary increase in cash in circulation does not pose any negative consequences for the economy, but overall, the trend increases risks for the banking industry," the regulator noted.

By the end of 2025, the total volume of cash in circulation was estimated to exceed 19.4 trillion rubles. Meanwhile, the share of cash payments in the Russian economy remains near its historical low: around 14% of total transactions. However, this situation may change in the future, and Russians will increasingly prefer cash payments.

16:00 01/27/2026

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Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

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Source: Mainfin Bank –

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Why did the authorities abandon the idea of banning microfinance organizations?

The Central Bank did not support the idea of a complete ban on the activity microfinance companiesRegulatory officials cite several reasons why microfinance organizations should continue operating:

The services of such companies are in demand on the market, and the number of borrowers exceeds 15 million people;
microloans They allow for quick and easy cash withdrawals; microfinance products are also popular in the POS loan segment, which citizens can apply for directly in stores; the microfinance services market is actively developing and improving.

"We need to focus not on banning microfinance organizations, but on improving the quality of services, including combating unscrupulous market players and fraudsters," the regulator's representative noted.

By the end of 2025, the microfinance services market is expected to grow by between 5% and 16%, half the 2024 figures. However, MFI services remain in demand, and the total amount of problem debt owed by clients of such companies exceeds 1.1 trillion rubles.

How is microloan regulation being tightened in Russia?

The authorities abandoned the idea of banning microfinance organizations, but decided to focus on tightening regulation. Among the most significant changes in the microcredit sector:

In July 2025, microfinance organizations (MFOs) were prohibited from using unofficial income data; in September of last year, lenders were prohibited from making mass calls to clients; also, starting in the fall, MFOs must verify loan recipients – money can only be sent to the person specified in the loan agreement; in January 2026, it was prohibited to issue more than one loan per citizen with an interest rate exceeding 200% per annum; in the spring of 2026, MFOs will identify borrowers only by biometrics (with exemptions made only for small companies); in April 2026, the maximum cost of a microloan will be reduced from 130 to 100% of the original amount; in 2027, MFOs will be prohibited from entering into additional agreements under which lenders previously included fines and penalties in the loan principal.

As a result, experts predict a crisis in the microfinance services market due to the new laws. By the end of 2026, approximately 150 companies, or over 15% of all MFIs in Russia, could exit the industry.

10:00 01/20/2026

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Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

Translation. Region: Russian Federation –

Source: Mainfin Bank –

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Why does Russia's financial sector have the right not to disclose information?

The financial sector of the economy came under a massive blow from sanctions after the start of the Western Economic Cooperation (WEC) – in 2022, the West began imposing restrictions on large Russian companies, including banks, as well as individuals associated with this business. To combat sanctions, the regulator has permitted financial institutions not to publish "sensitive data," including:

information about management bodies; information about business owners; data about company officials; information about reorganizations; information about business activities.

Currently, disclosure of ownership structure information is a right, not an obligation, for businesses operating in the financial sector. The regulator has calculated that only 3 jar out of 352, as well as 28% microfinance organizations, 12% of management companies and less than 8% of NPFs and insurers.

How will banks disclose information about owners from 2027?

Businesses were granted the right not to disclose information about the owners and managers of financial companies until the end of 2026. However, starting in 2027, these exemptions will be partially lifted – organizations will be required to disclose information based on 12 criteria, including the following:

the presence of persons under whose control the bank is located (microfinance organizations, non-state pension funds, etc.); the presence of citizens of "unfriendly countries" among the owners; participation in the capital of companies whose licenses were previously revoked by the Central Bank.

"Financial institutions will be able to disclose information in a new, anonymized format. If they are not satisfied with this approach, publication under the old format is possible," the Central Bank of the Russian Federation stated.

At the same time, the regulator is already trying to satisfy the market's need for information: the Bank of Russia's website publishes data on credit institutions' compliance with regulations. Most Russian banks, including Sber, T-Bank, VTB, PSB, Gazprombank And Alfa-Bank.

09:00 01/06/2026

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Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

Translation. Region: Russian Federation –

Source: Mainfin Bank –

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What budget payments will be made using the electronic ruble?

The government has published a list of expenses for which transactions can be made using the digital ruble. The list includes the following federal budget expenditures:

Social payments to citizens; salaries of civil servants; financing of construction services; repair work at government facilities.

Starting in 2026, payments to the budget and government agencies can be made in digital rubles. The Ministry of Finance clarified that using the new form of national currency is only possible at the citizen's discretion; authorities will not force Russians to open accounts. Social benefits and wages will continue to be received in the usual format—via bank accounts and MIR cards.

How is the digital ruble being launched in Russia?

An experiment with a digital ruble was launched in Russia in the summer of 2023. This new form of payment was intended to be an alternative to cash and non-cash payments. By 2025, over 9,000 individuals and over 1,000 companies had joined the project, and approximately 100,000 transactions had been conducted using the currency. Large-scale implementation has been repeatedly delayed due to banks' reluctance to lose profits, as well as the lack of technical and legislative readiness.

"In mid-2025, the law on the digital ruble was signed by the president. Large companies will be required to use the new payment method starting in September 2026, while other market participants were granted a deferment until 2028," the expert recalled.

The first budget payments using the digital ruble were made this fall – the federal budget then transferred the salaries of a parliamentarian and several students, as well as payments for government contracts. The project is continuing to expand, and the Central Bank plans to raise public awareness of the new payment method.

12:00 12/30/2025

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Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.