At the SPIEF, they talked about the competition between banks and marketplaces

Banks and marketplaces compete not only for financial products, discounts and loyalty programs. This was announced on June 5 by Dmitry Pyanov, First Deputy President and Chairman of the Management Board of VTB Bank, at the session "Banks and Marketplaces: Fair Competition on Digital Platforms" at the St. Petersburg International Economic Forum (SPIEF).

"I will allow myself to be hyperbole: if we compare classical banks with marketplaces, then marketplaces are further to the right in the hierarchy of "human happiness trading" than banks. Marketplaces are already merchants of happiness, and banks are merchants of money. And there is no happiness in money, as they say," Pyanov said.

According to Pyanov, marketplaces have become a daily point of attraction for users, where purchases, services and financial transactions are combined. The session discussed the impact of the platformization of the economy on the financial market, as well as the fair competition of banks on digital platforms.

Added value: increased control over marketplaces will bring their prices closer to offline

When prices on online platforms may change and whether to wait for customers to return to "traditional" stores

Deputy Minister of Economic Development Tatyana Ilyushnikova said during the session "Transformation of small Business: a new formula for SME growth" at the SPIEF that payment delays, changes in the terms of the offer, consumer terrorism and inequality in the position of Russian and foreign sellers are key business problems on marketplaces. She noted that the agency analyzes in detail the appeals of entrepreneurs and specific incidents related to the work of sellers on online platforms.