UrBC, Yekaterinburg, May 4, 2018. The Ural Bank for Reconstruction & Development (UBRD) joined the FinTech Association and will now work on the association’s projects and contribute to research together with other large member banks. There are currently some twenty major finance, tech, and telecommunications companies active within the association.

‘FinTech’s innovative technological solutions will allow the national finance market undergo a major transformation and achieve a breakthrough improvement in the quality of its finance services; these services will also grow more affordable and convenient for our customers,’ the UBRD’s press service says.

For the last few years, the bank has been piloting a number of tech solutions relating to data analysis, cloud technologies, machine learning, and biometrics. For one, a robotized voice-assisted self-service system got launched in 2016, and a new scoring system based on big data processing principles as well as a voice recognition project were introduced successfully a year later. This served as a foundation for a whole range of voice and image recognition projects that the bank is planning to launch in 2018.