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March-May 2020

Russia’s VTB and Rostelecom focus on big data

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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