Kommersant learned about the banks’ request to delay the transition to Russian software

A number of large Russian banks are asking to postpone until 2027 demands for the transition to Russian system software. About it writes Kommersant, citing sources.

According to the newspaper, representatives RSHBGazprombank, Promsvyazbank, VTB And “Dom.RF“made such a proposal at a meeting at the Bank of Russia. The requirement that critical information infrastructure (CII) entities must stop using foreign software comes into force on January 1, 2025.

The source explained that banks now predominantly use a database management system (DBMS) from Oracle. According to him, adaptation to domestic DBMS “will take a long time and require large investments.” The interlocutor added that the delay is needed so that Russian suppliers of automated banking systems (ABS) develop software with Russian DBMS.

A Kommersant source in the IT market claims that VTB, RSHB and Dom.RF are considering the possibility of establishing a consortium to prepare a new core banking system within a few years. An interlocutor at one of the banks clarified that the initiative belongs to VTB, the idea was announced about six months ago. According to him, the bank initially planned to develop an ABS on its own, but then realized that “the project is too large-scale and expensive.”

The Central Bank stated that it is discussing import substitution issues with market participants, including the timing of the transition to domestic software by 2025.