Financial Markets: Increasing Complexity, Maintaining Stability

3–5 July 2019, ST. PETERSBURG


Programme


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4 July

11:50–13:00

Presidential Library,
Conference hall 4 (third floor)
Microfinance Session 5.1: Credit Cooperation: Pathways Towards Earning Trust and Raising Popularity Credit cooperation, which re-emerged in Russia during the turbulent period of the 1990s, was viewed as a tool that provided the country’s citizens ...
Credit cooperation, which re-emerged in Russia during the turbulent period of the 1990s, was viewed as a tool that provided the country’s citizens with affordable and transparent financial services. Credit cooperatives (credit unions) were used for a good reason: throughout the world, they were viewed as a form of ‘safe finance’, or ‘household money’. To what degree does credit cooperation live up to this image in today’s Russia?
This session will examine the steps needed to make consumer credit cooperatives trustworthy, popular,
and viable institutions which can also play an effective role in tackling social issues.
Russian industry representatives will share their vision of the future, and the main provisions of the Credit Cooperation Development strategy – which the professional community plans to adopt in June 2019 – will be announced. An international expert will also express his views on the issues to be discussed.
Moderator
Galina Sharybkina, Advisor to the Director, Microfinance Market Department, Bank of Russia
Speakers
Igor Baginsky, Deputy Director, Department of Economics and Public Support for Agribusiness, Ministry of Agriculture of the Russian Federation
Tatiana Ivashkina, Chief Executive Officer, League of Credit Unions – National Union of Credit Cooperatives and Their Associations
Yury Marinichev, Member of the Board, Association of Credit Consumer Cooperatives ‘Gardarika’
Ulyana Mikhailova, Chairman, Pskov Regional Union of Trade Union Organizations ‘Pskov Regional Council of Trade Unions’

14:30–15:40

Presidential Library,
Conference hall 4 (third floor)
Microfinance Session 5.2: The Socialisation of Microfinance Organisations: Transforming Business Models through Regulatory Action Legislative changes that have come into effect since January 2019 have had an impact on the microfinance market as a whole and on the way individua...
Legislative changes that have come into effect since January 2019 have had an impact on the microfinance market as a whole and on the way individual participants operate. Tightening the previously existing limit on payments for short-term consumer loans and introducing a limit on the daily interest rate have forced the majority of microfinance institutions to change their business models in order to maintain their market presence.
Representatives of the professional community will speak about their business restructuring strategies and new opportunities for development.
An international speaker will present his views on possible ways to boost microfinance based on international experience. Participants will learn about the position of human rights advocates on the issues under consideration. They will also discuss prospects of introducing a debt burden indicator into the regulation. The indicator is designed to reduce the burden on borrowers and prevent a possible increase in household debt.
Moderator
Vladimir Chistyukhin, Deputy Governor, Bank of Russia
Speakers
Andrey Kleymenov, CEO, EQVANTA
Evgeniya Lazareva, Project Manager, All-Russian People’s Front ‘For Borrowers’ Rights’
Alexei Savatyugin, Assistant Chairman, Accounts Chamber of the Russian Federation
Muhammad Yunus, Professor, Founder of the Grameen Bank, Nobel Peace Prize Laureate of 2006
Nikolay Zhuravlev, Member of the Federation Council of the Federal Assembly of the Russian Federation, First Deputy Chair, Federation Council Committee on Budget and Financial Markets

16:00–17:10

Presidential Library,
Conference hall 4 (third floor)
Microfinance Session 5.3: The Development and Improvement of a Self-Regulation Institution on the Microfinance Market This session will review the main developments in the microfinance market since legislative requirements for self-regulation came into force. Prosp...
This session will review the main developments in the microfinance market since legislative requirements for self-regulation came into force. Prospects for further improvement, as well as the possibility for self-regulatory organisations (SROs) to play a bigger role in the process of monitoring and oversight will be covered.
Aspects related to shaping the monitoring environment will also come under discussion. Topics will include providing the necessary methods and instruments of monitoring for SROs, and implementing measures to improve the quality of work done by SROs.
Participants will examine the benefits of regulation based on key standards, and the flexible and prompt regulatory impact it would have on microfinance institutions. They will have the opportunity to find out how applying these standards has affected microfinance market participants, particularly with regard to financial stability. The topics of misconduct and preventing unfair practices will also come under discussion.
Moderator
Ilya Kochetkov, Director, Microfinance Market Department, Bank of Russia
Speakers
Igor Baginsky, Deputy Director, Department of Economics and Public Support for Agribusiness, Ministry of Agriculture of the Russian Federation
Renat Davletgareyev, Chairman of the Board, Credit Union ‘Renda Savings and Loan Fund’
Elman Mekhtiev, Chairman of the Council, Union of Microfinance Organisations ‘Microfinance and Development’; President, National Association of Professional Collector Agencies
Alexander Solomkin, Director, Self-Regulatory Organisation of Credit Consumer Cooperatives ‘Cooperative Finances’

17:30–18:40

Presidential Library,
Conference hall 4 (third floor)
Microfinance Session 5.4: Online Services in the Microfinance Market: Challenges and Growth Prospects The microfinance market is rapidly being transformed by the latest technologies. Loans are issued online, biometrics and artificial intelligence ar...
The microfinance market is rapidly being transformed by the latest technologies. Loans are issued online, biometrics and artificial intelligence are used almost as often as in the banking sector, and microfinance companies are becoming advanced platforms incorporating FinTech solutions.
Participants will discuss the challenges facing the online segment, including those emerging as remote sales channels expand, and present their methods of effectively confronting such challenges.
The session will also provide an opportunity to learn about currently available technical innovations that can be used, among other things, to minimise companies’ risks, reduce costs, enhance customer relations, and improve the quality of services.
Representatives of the business community will share their knowledge on remote scoring. In addition, a representative of the Bank of Russia will provide an update on the development of biometrics.
Moderator
Speakers
Irina Khoroshko, CEO, MoneyMan
Andrey Petkov, CEO, IFC Chestnoe Slovo
Danil Sherstobitov, Chief Operations Officer, Scorista
Ivan Zimin, Acting Director, Financial Technology Department, Bank of Russia
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5 July

11:50–13:00

Presidential Library,
Conference hall 4 (third floor)
Microfinance Session 5.5: Partnership between Credit and Microfinance Organisations: Benefits and Threats to Business and Consumers This session will cover the partnership between credit and microfinance organisations, and, above all, the development of microfinance companies th...
This session will cover the partnership between credit and microfinance organisations, and, above all, the development of microfinance companies that are part of banking groups. Microfinance institutions of this kind have access to cheaper funding, use advanced technologies, and apply high standards of customer service.
Participants will assess the impact that the development of such companies has on the microfinance market as a whole. Speakers will present their views on the potential benefits and threats for businesses and customers associated with incorporating microfinance organisations in banking groups.
Another important topic for discussion will be the customers’ interests: whether customers ultimately benefit from partnerships between credit and microfinance institutions, and how such partnerships affect the accessibility and affordability of financial products.
Moderator
Alexey Simanovskiy, Adviser to the Governor, Bank of Russia
Speakers
Sergey Chetverikov, Managing Director – Director of the Office, Lending Products and Processes Division, Sberbank
Sergey Kotlyarenko, General Director, Microcredit Company ‘Kupi Ne Kopi’
Arsen Lyametov, General Director, Microfinance Company ‘T-Finance’
Dmitry Peshnev-Podolskiy, Chairman of the Board, BCS Bank

14:30–15:40

Presidential Library,
Conference hall 4 (third floor)
Microfinance Session 5.6: Consumer Fraud and Borrower Misconduct: Taking Effective Countermeasures Participants will address issues faced by microfinance institutions regarding protection from customer fraud. Mechanisms to counter unfair practice...
Participants will address issues faced by microfinance institutions regarding protection from customer fraud. Mechanisms to counter unfair practices, as well as ways to minimise the damage to companies arising from customer misconduct, will also be considered.
Participants will examine new fraud schemes related to the development of remote sales channels, and share their experience in using modern technologies to manage those risks.
Discussions will also cover the development of anti-fraud initiatives, identifying triggers in client behaviour, and new tools for identifying and assessing borrowers.
Moderator
Victor Klimov, Financial Ombudsman in Insurance
Speakers
Alexander Akhlomov, Chief Product Officer and Co-Founder, JuicyScore
Lyudmila Gribok, Chairman of the Board, Regional Association of Pawnshops
Ivan Merinov, CEO, SMSFINANCE Group
Stanislav Romanchuk, Head of the Operational Search Unit, Russian MIA General Administration for St. Petersburg and the Leningrad Region