In the Russian Federation, from 2026, the use of open software interfaces (open APIs) will become mandatory for the largest banks, brokers and insurance companies. This is stated in the message of the Bank of Russia, which published the basic principles and stages of the implementation of Open APIs.
From 2027, open APIs will have to be used by microfinance organizations, depositories, operators of information systems in which digital financial assets are issued, and financial platforms.
These market participants will have to meet the criteria set by the Central Bank. Later, the practice will spread to other financial and then non-financial organizations.
An open API is a public application programming interface that provides developers with programmatic access to a software application or web service.
