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Raiffeisenbank connects Severstal to Transit 2.0 via API

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PJSC Severstal, one of the world's largest vertically integrated steel and mining companies, and Raiffeisenbank have completed the full integration of ERP systems for exchanging financial messages through the Transit 2.0 platform of the National Settlement Depository (NSD). Raiffeisenbank became the first bank to implement Severstal connects via API instead of traditional file exchange.

Transit 2.0 is a system for exchanging financial messages between corporations and their banks. The platform makes it possible to unify and standardize the interaction of system participants to the maximum, increasing its efficiency and safety.

Alexey Kulichenko, Deputy General Director for Finance and Economics of Severstal:

Severstal for a long period of time introduces and successfully applies modern technological solutions in all areas of activity. Building a single multibank on the Transit2.0 platform is one of the Treasury's top priorities today. An important factor in the transmission of financial communications with our partners is security. Interaction with banks through Transit 2.0. using the API connection allows us to minimize the risks of information security and optimize the processes of exchanging data from the accounting system. " 2.0 ”will allow Severstal's Treasury to manage accounts in a single interface and promptly exchange financial documents. Together with the company, we decided to connect to the platform through an API connection, which provides many advantages over file exchange. Thanks to the API, clients can use our services both in ERP systems and in treasury management systems and any self-written accounting systems. "

Alexander Nam, Managing Director for Technological Services, NSD:

" We are glad continue effective cooperation with Severstal, providing all the opportunities that the Transit 2.0 platform has. We see the market demand for high-tech services that allow us to optimize the work and increase the efficiency of the treasury. Flexible integration mechanisms offered by NSD make it possible to modify the product to meet the needs of the business. We hope that the platform will continue to develop at a fast pace in the future thanks to the active support of the market. ”

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