The ecosystem can be used as part of the new VTB Business Internet Bank for free, without any restrictions, additional settings and connections.

VTB's foreign economic activity (FEA) ecosystem is a personal account for international business participants, with seamless access to the new VTB Business Internet bank. It has built-in classic products and services - currency control, international settlements and real-time quotes. Furthermore, in the FEA ecosystem, new digital solutions are available to clients, such as the examination of international contracts, monitoring of FEA events, customs services and others.

The solution is based on the company's international contracts. The intuitive interface of the personal account allows customers to create a transaction card for a contract in a few clicks, upload commercial documents, as well as generate and send a payment. It also provides everything necessary for currency control, credit currency earnings, registering a contract or providing a supporting document. Most of the data is filled in automatically, using a system of "smart fields" and prompts helps to avoid errors. All information on transactions is available to entrepreneurs around the clock.

“Russian entrepreneurs today have high potential and great opportunities to work in the global market. At the same time, business owners often have to seek advice from various specialized experts or hire individual specialists. We set ourselves the task of ensuring that clients without special training can get the set of digital products and services they need for doing international business. To do this, we are launching a solution that is unique in the market, which in the “one window” mode combines all the functionality for working with foreign partners. The FEA ecosystem combines financial, consulting and service aspects, saves time, effort and costs for novice exporters and importers, as well as optimises business processes for companies that have been operating in foreign markets for a long time, ” said Denis Bortnikov, Deputy President and Chairman of VTB Management Board.

“The digital ecosystem of foreign economic activity for entrepreneurs has been implemented on a new omnichannel platform. It has been developed as part of VTB’s technological transformation, and is designed to ensure the availability and convenience of financial services for legal entities participating in foreign economic activity. The high requirements for the performance and fault tolerance of the new platform make it possible to implement high-quality FEA services that are reliable and provide a positive user experience. Microservice architecture allows you to quickly respond to changes in customer needs and promptly launch new services, including within the framework of the foreign economic activity ecosystem,” emphasized Vadim Kulik, Deputy President and Chairman of VTB Management Board.

In the personal account, a number of online assistants are implemented that will simplify and speed up the work of foreign economic activity participants: SWIFT confirmation for a foreign partner, pickers of IBAN numbers and currency transaction codes, round-the-clock quotes at market rates in real time and the "Order" option for automatic execution by the bank of transactions for the purchase or sale of currency at the rate specified by the client within 30 days. The calendar in the personal accounts will remind customers of the deadlines for the contract, the receipt of customs declarations, as well as revenue and other important events.

The list of digital services and solutions of the ecosystem will be constantly expanding. In the near future the ecosystem will feature an online order for the verification service of foreign partners from China and the CIS countries and a new line of solutions for customs support, with the participation of the bank.