ВТБ обозначил ключевые вызовы на заре эры открытого банкинга

At the Ural Forum "Cybersecurity in Finance," VTB Senior Vice President Sergei Bezbogov outlined the main challenges facing market participants on the threshold of the open banking era. According to him, to successfully implement the concept of open APIs, it is necessary to address a number of issues related to security, regulation, and user awareness.

One of the key problems is achieving a unified security standard that would allow financial companies to securely exchange customer data and initiate payments. It is important that this standard covers not only interfaces, but also the entire technological landscape of market participants. Otherwise, Bezbogov emphasized, different levels of protection among different players may lead to vulnerabilities and risks for the entire system.

Today, large banks have significant resources to protect data, but smaller financial organizations, such as small banks and insurance companies, often cannot afford the same level of information security. This creates an imbalance and may jeopardize the protection of the entire open banking ecosystem.

Another significant aspect is the creation of a unified operator for the open API environment, which will be responsible for user identification, access administration, and legal regulation of processes. According to Bezbogov, such an operator should be equidistant from all market participants, and its powers and responsibilities should be clearly defined from the very beginning of the implementation of the open banking concept.

VTB conducted a large-scale study "Open Banking: Secure APIs for All," during which it analyzed more than 100 Russian and foreign sources. It showed that in the leading countries in the implementation of open banking, regulators of the financial market play a key role in its development. The concept of open APIs not only simplifies payment processes, but also contributes to more effective monitoring of financial flows, helping to identify suspicious transactions.

On the other hand, open banking can also create additional fraud risks associated with the interconnectedness of customer accounts in different banks. This underscores the need for a comprehensive approach to information security.

The VTB study also revealed a lack of mass information campaigns aimed at raising user awareness about the safe use of open banking. Currently, most recommendations boil down to general rules of digital hygiene, such as using strong passwords and not sharing access codes with third parties.

Bezbogov noted that one of the tasks of major players in the financial market should be to actively inform users about the principles of open banking, its capabilities, and potential risks. This will increase confidence in the system and reduce the likelihood of fraudulent activities.

Thus, on the path to implementing open banking, it is necessary to take into account a number of key factors: ensuring data security, building a clear regulatory mechanism, implementing a unified operator for the open API environment, and large-scale user awareness. Only with a comprehensive solution to these issues can open banking become an effective tool for the development of the financial market, ensuring convenience and security for all participants.