VTB launches digital bank in Russian domestic messenger MAX

MOSCOW. June 5 (Interfax) - VTB's digital bank is now operational on the Russian MAX platform, the bank said.

VTB clients in MAX can check their balance and transaction history, transfer money, pay invoices or QR-code purchases, connect banking products, select cashback categories, configure notifications, and perform other actions. To complete a transaction, users need to log in to MAX using an access code, just as they would when entering the VTB Online app.

It is planned that the digital bank in MAX will also introduce other in-demand everyday functions, access to products, and customization options for clients.

The bank's services are secured at the same level as the mobile app and internet banking. For iOS smartphone users, the digital bank in the messenger can serve as an alternative to the AppStore app or internet banking via Safari, Luna, or Yandex browsers, VTB said.

"Currently, the number of active VTB Online users exceeds 22.5 million per month, and we see our clients' demand for easy payments and transfers in messengers, including on the new domestic MAX platform. That's why we're offering MAX users a full-fledged online bank for daily use. We expect hundreds of thousands of transactions to be processed on the platform by the end of the year," VTB First Deputy President and Management Board Chairperson Olga Skorobogatova was quoted as saying.

MAX is a digital platform developed by VK , integrating a messenger, payment service, chatbots, mini-apps and other services. The app has been available in stores since March 26.

VTB's chatbot and digital bank also operate on VKontakte. Currently, the chatbot's audience on the platform is around 2 million users, with around 30,000 unique users having utilized the bank's services on VKontakte, the bank said.