VTB testing Mastercan to conduct mortgage transactions

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VTB testing Mastercan to conduct mortgage transactions

According to Bank representatives, the project can be deployed for large-scale utilization in the first quarter of 2019.

“VTB testing operations with the electronic embedded in the DDS on Mastercan in the working group, the AFL together with the other participants. The timing of the start of commercial operation of the system depends on the willingness of the first cycle of operations of DDS. We believe that a realistic deadline for the project launch in the first quarter of 2019, as currently the system of DDS and documentation necessary for system implementation are being finalized”, – said the representatives of VTB.

First mortgage transaction on Mastercare held Raiffeisenbank and the company “Iteca”. According to managing Director of the Association “FINTECH” (aft) Tatiana Zharkova, on a pilot project called “Accounting for electronic mortgages” have been Gazprombank and AK bars Bank, but soon they intend to join other parties.

“Blockchain technology can significantly increase the speed of transactions, and to ensure the reliability and safety of information during electronic interaction. In a short time using a DDS, it will be possible to make transactions with e-mortgages, which will simplify the securitization transaction”, – said Zharkov.

Earlier, the head of the working group of technology development of distributed registries aft Alexey Arkhipov expressed the opinion that Mastercam “state” platform from the Bank of Russia – “in varying degrees, will be shared by all”.

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