VTB increased the share of spending on domestic software to 75%

AK&M 27 March 2023 14:15

According to the results of 2022, VTB Bank brought the share of expenses on domestic software to 75% of total software expenses. At the same time, the share of Russian software for many classes of systems within the bank has exceeded 80%, and for some it has already reached 100%. It is expected that by the end of 2024, the volume of spending on domestic software will exceed 85%, and the share of its use for most systems will reach 90-100%. This is stated in the bank's message.

Import substitution has already affected absolutely all programs and IT tools with which any employee of the bank interacts. Today, vendor-independent solutions cover more than 60% of VTB's critical information systems. The economic effect for the bank from the transition to import-independent solutions will be at least 30 billion rubles.

By December 31, 2024, only domestic software included in the Unified Register of Russian Programs should remain in the bank's critical IT infrastructure. At the end of 2022, 21 technologies out of 180 in the bank's technology stack needed to be replaced, but alternatives for 8 of them have already been found. 

Among the most important achievements of VTB in the field of technological sovereignty is the completion in 2022 of the transfer of all channels of interaction with retail and corporate customers, including a single omnichannel business logic, to its own fully import—independent platform, as well as the implementation of operational and credit pipelines on import-independent technologies. To ensure technological sovereignty and independence from foreign vendors, the bank has created and is developing its own internal competence centers.

In addition, the expertise accumulated in the bank on working with freely distributed software made it possible to create its own vendor—independent cloud platform - VTB.Cloud. The solution allows you to completely abandon import-dependent analogues.

VTB Group is a Russian financial group comprising more than 20 credit and financial companies operating in all major segments of the financial market. In the CIS countries, the group is represented in Armenia, Ukraine, Belarus, Kazakhstan, and Azerbaijan. VTB banks in Austria, Germany and France operate under a European sub-holding headed by VTB Bank (Austria). In addition, the group has subsidiaries and associated banks in the UK, Cyprus, Serbia, Georgia and Angola, as well as one branch of VTB Bank in China and India, two branches of VTB Capital Plc. in Singapore and Dubai.