UrBC, Yekaterinburg, November 19, 2019. NEYVA Bank joined the Russian Central Bank’s faster payments system (FPS) and is now the country’s 26th and one of the Urals’ first banks to do so.

According to the bank’s official press statement, NEYVA Bank’s private customers will be able to make instant payments to their own or other holders’ bank accounts in any other FPS member bank using only a mobile phone number, any time, anywhere in Russia, starting November 18, 2019.

Chair of the Board at NEYVA Bank Pavel Yefremov says the bank keeps track of all the new services on the market and only launches the ones that can prove really useful for customers.

‘FPS looks relatively simple, but getting connected to the system is a technically sophisticated infrastructure project. This is a big challenge for a small local bank. We do understand, however, that introducing the FPS was necessary to make sure our customers can enjoy the same quality service as the customers of major nationwide banks. Besides, we wanted to become much more competitive and improve our customer service dramatically. We proved that we can compete successfully with the banking/fin-tech market giants,’ Yefremov says.

According to Yefremov, the launch of the FPS is an extremely useful thing for the entire Russian banking market.