Russia’s National Settlement Depository improves channel For client interactions

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National Settlement Depository (NSD) just informed that it has improved the channel for client interactions by implementing the Application Programming Interface (API) for online banking services.

Now, the system allows clients to connect their software directly with NSD payment services in real time without using a special procedure to transmit messages from the automated banking system to the Online Bank. This lets clients reduce their costs and save time when conducting banking operations.

All users of NSD’s Online Bank may access the system for free, using ISO-20022 messages in XML format.

Svetlana Gryanchenko, Director of the Operations Department, NSD, said:

We continue to improve not only the service range, but also interaction channels. The new options of the banking service facilitate operations of our clients, especially those who are interested in the quick provision of brokerage services. The service connects clients’ and NSD’s systems and excludes an additional link of data export/import. Now, notifications of crediting funds in client accounts may be received more quickly. The process of payment data uploading and the automatic formation of daily cash flow statements have been accelerated.

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