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Russia’s VTB and Rostelecom focus on big data
This article is part of the CW Europe issue of March-May 2020
Russian telco Rostelecom and state-run banking and financial group VTB are launching a big data platform and will offer it as a service to other organisations. The two companies signed an agreement in November, and the initial investment in the project was set at RUB1bn ($15.7m), split equally. “The new platform will facilitate the structuring of big data collected in the economy’s various sectors and, based on it, the building of digital solutions that correspond to contemporary market expectations,” said Andrei Kostin, VTB’s president and chairman of the board. “I am sure that the improving of the quality and accessibility of big data is one of the chief factors for successful development of a digital economy in Russia.” At the heart of the joint venture will be a big data platform open to all interested participants in sectors such as telecoms, financial services, retail and construction, as well as public sector organisations. All data added to the platform will be checked for legality and quality, and will be anonymised and...
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Features in this issue
Tech experts discuss the challenges and potential solutions to the Netherlands government’s IT problems
The Advocate General of the European Court says standard contractual clauses are lawful, but raises questions over the impact of US surveillance on the legality of Privacy Shield
Russian financial services and telecoms enterprises to create a platform that will allow them and other organisations to utilise big data technology