Fintech-digest: preparation of switching off small banks from Visa and Mastercard, a pension calculator and not only

This week there were several events from the world of Fintech, which we would like to note in the digest.

• The Central Bank asks small banks to look for a spare card service partner;
• Google introduced technology trends;
• Alfa-Bank offers to calculate the cumulative pension when using a cashback card;
• Bitcoin is not everything - 2019 is likely to be a year of growth.

Preparing to disconnect Russian banks from Visa and Mastercard

The other day, the Bank of Russia sent a letter to the banks asking them to find a spare partner who could serve the data on their bank cards. This is done in order to cope with the next possible wave of US sanctions.

The letter was sent to small banks working with international payment systems Visa and Mastercard - not directly, but through large partner banks. The Central Bank advises small banks to enter into a spare contract in order to ensure the uninterrupted operation of bank cards.

It should be noted that the change of the partner bank is a long and painful process, which takes 3-6 months. And this process is accompanied by failures in the "card" systems. Changing the processing counterparty for a bank costs an average of 100 thousand US dollars.

Well and the main thing - it does not mean that banks disconnect from these systems in a short time and “chief, everything is lost”. Just for a number of things it is better to be prepared in advance and have spare capacity. Suddenly what.

+ Kommersant

Google Fintech Trends

Google Inc. has prepared a selection of promising technologies in the field of fintech. According to the company's specialists, the most trending in 2019 will be machine learning, chat bots and open APIs. All these tools are necessary for the bank to get rid of barriers to the client. In addition, for successful operation, banks need to actively cooperate with fintech companies that offer various promising solutions.



Now more than 50% of banks consider Big Data and machine learning to be key trends of the year. All this helps to automate processes, reduces costs and risks, allows you to provide a personalized approach to customers and partners (yes, this is another trend).

According to the company, focusing on the development of a single technology is not worth it, you need to develop them together, combined.

Alfa-Bank Cashback Card and Pension Calculator

We suggest calculating the size of your pension if you start using one of our cashback cards right now. There are several varieties of them, so the rate of accumulation of funds may be different. But this product allows you to save significant funds, and unnoticed.

Here you can calculate the size of the pension, if you use this card.

Bitcoin rate to grow in 2019

This year, despite all the aspirations of those who are engaged in the cryptosphere, the “native” in relation to Bitcoin and a number of altcoins did not work out. But experts are not upset and predict a rapid growth rate in the next year.

One of the experts is Mike Kayamori from Quonine. He believes that the situation after the new year will improve significantly. Perhaps the situation will help disabling many cryptographic farms, the operation of which has become simply unprofitable business.

If there are still a lot of miners out of business, then the balance is close. Looking at the shortfalls and over the market, one can understand how close the bottom is,

- Kayori said.

What course will be next year, the specialist does not undertake to predict, but believes that growth is quite possible and should be expected to be prepared. However, in the near future the course may decline even more.