The PSB talked about the progress of digitalization

PSB participates in projects for the development of the digital payment space for the population, said Alexey Shchavelev, Senior Vice President and head of the bank's retail business unit.

Speaking at the site of the VII Financial Forum of PSB "Just Capital", he recalled that the bank was one of the first in the Russian market to begin piloting operations with digital rubles for individuals and businesses. During this time, the number of participants who joined the digital ruble platform of the Bank of Russia has increased many times.: Today, banks, government authorities, infrastructure companies, representatives of the insurance business and IT vendors are among them, said Shchavelev.

"Now, before the start of mass use of the digital ruble, the participants of the pilot project will have to solve a complex task — to rebuild their own technological infrastructure, scale payment services for various types of transactions, and most importantly — to stimulate demand for settlements in
digital rubles and clearly demonstrate to future users the advantages of the third form of currency," said the top manager of the PSB.

He added that the key point in the introduction of the digital ruble is the economic motivation of commercial structures, including the possibility of its use in cross—border settlements. Shchavelev explained that there is a technical opportunity for this, but "the willingness of other countries and foreign counterparties to develop such cooperation will play a crucial role here."

Another important area of PSB's retail business is the creation of a secure digital infrastructure for socially significant projects. One of them is an electronic identification card "Their own" for combat veterans. It is both a payment instrument and "a universal digital key to all social benefits that are available to veterans," said the senior Vice President of the PSB. Currently, the bank has received more than 330,000 applications for the issuance of these cards.