Call for faster development of digital banking in Belarus

Belarus should move faster towards the development of digital economy, in particular, digital banking, BelTA learned from Sergei Dubkov, Deputy Chairman of the Board of the National Bank of the Republic of Belarus, during the 11th international forum on banking technologies BankIT.

“The decisions that will be stipulated by the forum’s resume, the reports that were delivered during the forum allow me to state that digital banking is no longer an idea but something that has evolved into concrete measures. It is not based on allegations but quite a solid foundation,” said Sergei Dubkov.

“Anyway, clients will be the ones to choose and they will choose the most comfortable ways. If clients profit from using the infrastructure of mobile carriers to make mobile payments, then it is necessary to look in that direction. Moreover, the experience of other countries is available, for instance, Russia,” noted Sergei Dubkov. “If we cannot offer something clients like, then it means we are lagging behind. Meanwhile, we have to stay at the forefront at least in order to stay competitive”.

The official also said that within the framework of integration processes there is a clear call for keeping IT specialists in Belarus using economic methods instead of administrative ones. “Russia’s demand for IT specialists is estimated at 650,000. It means that Russian universities do not train enough IT specialists while the country’s domestic market is experiencing a shortage of workforce. So Russia will encourage labor migration,” said Sergei Dubkov.

The BankIT forum took place in Minsk on 19-20 November. The forum gathered representatives of the banking industry, IT companies and state-run enterprises. Participants of the forum discussed strategic matters concerning the development of the Belarusian IT market, the use of new technologies in the banking industry. Apart from that, the latest instruments designed to enable effective data protection, fight fraud, and counteract money laundering were highlighted.

The forum was organized by the National Bank of the Republic of Belarus, the research and technology association Infopark, and the Association of Belarusian Banks.