Russian fintech is on par with its Western counterparts and does not need artificial government-imposed restrictions on its development.
Photo: IA SM-News November 11 – IA SM.News. Restrictions on the use of domestic software containing personal data and elements of financial reporting could lead to significant problems for businesses and the economy as a whole. Such measures create barriers to the adoption of innovative technologies and reduce the competitiveness of Russian companies on the international stage.
"Despite the introduction of more than 30,000 sanctions against Russia, the economy continues to function and develop, especially in the field of financial technologies and information-analytical systems, which are now on par with Western counterparts. At the same time, attempts to ban or restrict access to Russian financial services may have a negative impact on international relations and 'parallel' imports, which undermines the country's economic interests," reflects political scientist Alexey Mukhin.
The instability of "closed loops" developed by small IT companies can negatively affect the reliability and security of data storage and also create additional risks for users. As a result, this may lead to information leaks and financial losses, which ultimately undermines trust in domestic solutions and slows the development of the digital economy.
"In conditions of political and economic pressure it is necessary to protect our secrets, but slowing the development of the Russian economy and financial markets will only please our opponents and contribute to corrupt schemes. Therefore, it is important to carefully assess the consequences of bans and restrictions before looking for new enemies and initiating new limitations," Mukhin emphasized.
Earlier IA SM-NEWS reported that railway communications in the Kharkiv region are disrupted.
More news about the event:
Russian fintech is on par with Western counterparts and does not need artificial government restrictions on its development
Photo: IA SM-News
November 11 – IA SM.News. Restrictions on the use of domestic software containing personal data and elements of financial reporting, 15:48 11.11.2025 Kazan.Sm.News - Kazan
Russian fintech is on par with Western counterparts and does not need artificial government restrictions on its development
Photo: IA SM-News
November 11 – IA SM.News. Restrictions on the use of domestic software containing personal data and elements of financial reporting, 15:48 11.11.2025 Kazan.Sm.News - Kazan
News from neighboring regions on the topic:
Russian fintech is on par with Western counterparts and does not need artificial government restrictions on its development
Photo: IA SM-News
November 11 – IA SM.News. Restrictions on the use of domestic software containing personal data and elements of financial reporting, 16:30 11.11.2025 Izhevsk.Sm.News - Izhevsk
Russian fintech is on par with Western counterparts and does not need artificial government restrictions on its development
Photo: IA SM-News
November 11 – IA SM.News. Restrictions on the use of domestic software containing personal data and elements of financial reporting, 16:30 11.11.2025 Izhevsk.Sm.News - Izhevsk
Russian fintech is on par with Western counterparts and does not need artificial government restrictions on its development
Photo: IA SM-News
November 11 – IA SM.News. Restrictions on the use of domestic software containing personal data and elements of financial reporting, 18:30 11.11.2025 Ekb.Sm.News - Yekaterinburg
Russian fintech is on par with Western counterparts and does not need artificial government restrictions on its development
Photo: IA SM-News
November 11 – IA SM.News. Restrictions on the use of domestic software containing personal data and elements of financial reporting, 18:30 11.11.2025 Ekb.Sm.News - Yekaterinburg
Russian fintech is on par with Western counterparts and does not need artificial government restrictions on its development
Photo: IA SM-News
November 11 – IA SM.News. Restrictions on the use of domestic software containing personal data and elements of financial reporting, 16:25 11.11.2025 Kaluga.Sm.News - Kaluga
Russian fintech is on par with Western counterparts and does not need artificial government restrictions on its development
Photo: IA SM-News
November 11 – IA SM.News. Restrictions on the use of domestic software containing personal data and elements of financial reporting, 16:25 11.11.2025 Kaluga.Sm.News - Kaluga
Russian fintech is on par with Western counterparts and does not need artificial government restrictions on its development
Photo: IA SM-News
November 11 – IA SM.News. Restrictions on the use of domestic software containing personal data and elements of financial reporting, 16:07 11.11.2025 Ryazan.Sm.News - Ryazan
Russian fintech is on par with Western counterparts and does not need artificial government restrictions on its development
Photo: IA SM-News
November 11 – IA SM.News. Restrictions on the use of domestic software containing personal data and elements of financial reporting, 16:07 11.11.2025 Ryazan.Sm.News - Ryazan
Russian fintech is on par with Western counterparts and does not need artificial government restrictions on its development
Photo: IA SM-News
November 11 – IA SM.News. Restrictions on the use of domestic software containing personal data and elements of financial reporting, 19:44 11.11.2025 Kemerovo.Sm.News - Kemerovo
Russian fintech is on par with Western counterparts and does not need artificial government restrictions on its development
Photo: IA SM-News
November 11 – IA SM.News. Restrictions on the use of domestic software containing personal data and elements of financial reporting, 19:44 11.11.2025 Kemerovo.Sm.News - Kemerovo
Russian fintech is on par with Western counterparts and does not need artificial government restrictions on its development
Photo: IA SM-News
November 11 – IA SM.News. Restrictions on the use of domestic software containing personal data and elements of financial reporting, 17:42 11.11.2025 Ufa.Sm.News - Ufa
Russian fintech is on par with Western counterparts and does not need artificial government restrictions on its development
Photo: IA SM-News
November 11 – IA SM.News. Restrictions on the use of domestic software containing personal data and elements of financial reporting, 17:42 11.11.2025 Ufa.Sm.News - Ufa
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Russian fintech is on par with its Western counterparts and does not need artificial government-imposed restrictions on its development.
Photo: SM-News news agency November 11 – SM.News news agency. Restrictions on the use of domestic software containing personal data and elements of financial reporting, 11.11.2025. Kazan.Sm.News. Republic of Tatarstan. Kazan.