VTB assessed the prospects of import substitution in the financial sector

The onset of technological sovereignty in the Russian financial sector can be expected before the end of 2028. This opinion was expressed by Sergey Bezbogov, Senior Vice President and Deputy Head of VTB's technology unit, during a speech at the Finopolis 2025 forum.

"In my opinion, we have done a lot in the last 3-4 years and are on the right track. So 2-3 years is quite a normal period to become truly sovereign in infrastructure technologies in our financial sector," Bezbogov said. In his opinion, "the market has realized that import substitution is not a problem or a burden, but it is our future."

"I would say that the architectural solutions that we are currently working on with vendors will be actively used by us in the next few years," Bezbogov said.

He added that for large companies, the use of import—substituting technologies is "a necessity of today." They are significantly cheaper than the solutions used in most cases by multinational IT corporations. "Sooner or later, most countries of the world will come to this, including those who now have access to solutions from global IT giants," Bezbogov stressed.

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