The IT market fears rising costs for processing information containing bank secrecy

by time news

2024-02-07 21:28:33

The bill being discussed in the State Duma, which will allow banks to outsource the development of IT solutions and store data with bank secrecy in cloud services, could “significantly increase the costs” of small and medium-level IT companies and “undermine competition in the market in favor of big players.” This is stated in a letter from the Russian Association of Electronic Communications, ARPP Domestic Software and the Association of Computer and Information Technology Enterprises (APKIT), sent on February 2 to the head of the State Duma Committee on the Financial Market, Anatoly Aksakov (A Just Russia). Vedomosti saw a copy of the document; its authenticity was confirmed by the executive director of APKIT Nikolay Komlev and a representative of the ARPP Domestic Soft.

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