OREANDA-NEWS. November 07, 2011. Sviaz-Bank and the International Analytics Unlimited Bank Club have held, with the Moscow Chamber of Commerce and Industry as sponsor, a subject round table on prospects for remote financial services being provided by banks, reported the press-centre of Sviaz-Bank.

Traditional financial services – bank loans and deposits – are beyond the reach of 2.7 billion people around the world. Because of Russia’s large area and a high concentration of banks in its capital, 40% of the country’s population, or around 60 million people, have no access to these services. This low penetration rate of banking services gives food for thought about development and promotion of remote service provision channels.

The round table participants discussed opportunities opened up in Russia by the National Payment System Law passed recently, in particular, banking services to be provided to the population by banks and non-bank lending institutions, specialized nongovernmental for-profit institutions, and mobile phone operators. They also examined international experience in setting up remote banking services channels; and shared their own experience in providing services of this kind and optimizing their networks of offices. Andrei Laikov, head of Sviaz-Bank’s BLIZKO money transfer system, was moderator of the discussion.

The round table participants gave considerable attention to problems that have surfaced on the money transfer system market. According to Andrei Laikov, many systems do not disclose the full cost of money transfers that includes, aside from the operator’s commission, the commission charged by the bank a customer get this service from. As a result, the customer pays much more than he expects going to the bank.

“The customer has to know all about the cost of a service, no matter what it is. The techniques used to calculate and disclose the effective interest rate charged on loans have to be applied to payments and transfers,” said Mikhail Mamuta, president of The National Partnership of Microfinance Market Stakeholders (NAMMS).

The round table was attended by representatives of Altaienergobank, the Banking Institute of the National Research University - Higher School of Economics, Megafon mobile phone operator, Ernst & Young, and Liberty Grant Ltd.