VTB’s API Platform Gets CNew’s “Innovation Of The Year” Award

VTB’s API (Application Programming Interface) platform won in the nomination “Eco-system for digital transformation: Innovation of the year” at CNews “Innovations 2023 Awards”. The solution allowed to simplify and fully automate the process of connecting VTB’s external partners from different industries to the Bank’s services. The API platform improves the efficiency of interaction between the bank’s different internal systems, enhances their reliability and performance, and allows reducing time-to-implementation on new products and services within the bank.

The API platform was developed as part of VTB’s technological transformation and presented to the market in early 2021. Today, it features over 700 interfaces ready for connection, including solutions supporting interactions with insurance companies, subsidiaries of VTB Group, lead generation, and etc.

In 2022, Cinimex and Innotech helped to migrate the platform to domestic software completely free of imports. The migration will allow the bank to maintain a secure and sustainable technological foundation, which is designed to drive VTB’s partnerships with other businesses and ensure uninterrupted operation of all services on the platform.

The API platform is one of the milestones of VTB Bank’s technological transformation. It has given us colossal opportunities for further expansion of our services and partner eco-system. We were able to enhance interaction between the bank’s internal systems, and also reduced  development and time-to-integration to two weeks. This is why it is so important that the platform is distinguished by full technological sovereignty. The API platform was created in response to our business needs: everything is driven by the logic of business, translated into the language of IT,” commented Igor Besschastniy, Head of Department of Automated Interfaces, VTB Bank.

The API platform is built on a 100% imports-free tech stack. The system components are all domestically-made and unique for the Russian market,” said Denis Ermilov, Cinimex’s Deputy Key Accounts Director.

The bank knows everything about its APIs: which of them are top requested, which withstand peak loads, which have the highest pay-off, exact request latency and custom limits for each interface. Flexible platform settings allow tracking and controlling flows both inside the contour of the bank and data incoming from partners. This ensures all systems’ health and allows to add capacity to the systems that may need it just in time, thus boosting system throughput.  

Rigorous control over all APIs submitted to the platform allows saving resources and using APIs of external partners to create additional services.

The platform counts with file exchange and API-contract storage – API register, a well-functioning API-building pipeline — from design to billing service, and other services to control API lifecycle and distribute resources efficiently.

For more details about the project and the award see CNews.

Ask your question

Previous news
TAdviser: Russian IT Market In 2022 And Outlook For 2023
23 June 2023 | News
Next news
Cinimex To Participate in PLUS-Forum
20 June 2023 | News