PRESS: Rostelecom, VTB may create big data exchange platform

MOSCOW, Oct 14 (PRIME) -- Russian state-controlled telecom operator Rostelecom and VTB Bank could create a platform of big data exchange, business daily Vedomosti reported on Monday, citing Rostelecom’s CEO Mikhail Oseyevsky and VTB Bank’s First Deputy President Dmitry Olyunin.

The executives abstained from any further comments, saying that it is too early to disclose any details of the project.

A source familiar with the idea said the companies will share data and process them by merging various client information in user profiles. For example, the system may have information on gender, age, purchases, income, movements, and the like.

There are options to value credit worthiness of a person, develop methods of attracting and keeping clients, the source said.

Another person familiar with the matter said the partners want to create an analogue of Chinese communications system WeChat, a single system where payments for goods and services would be done via one application on mobile phones, a more flexible way than the instant payment system.

Rostelecom and VTB Bank will be closely affiliated soon following the operator’s additional issuance of shares in favor of the bank in pursuit of consolidation of mobile operator T2 RTK Holding. VTB Bank will get 17% of Rostelecom.

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