PAO Severstal, one of the world’s largest vertically integrated steel and mining companies, and Raiffeisenbank have completed full integration of their ERP systems for exchanging financial messages via the Transit 2.0 platform of National Settlement Depository (NSD). Raiffeisenbank is the first bank to connect Severstal to the platform via API instead of the conventional file exchange protocol.
Transit 2.0 is a system that enables corporations and their banks to exchange financial messages. The platform helps harmonize and standardize interactions between its users, making such interactions more effective and secure.
Alexey Kulichenko, Deputy General Director for Finance and Economics, Severstal: For a significant period of time, Severstal has been implementing and successfully using advanced IT solutions across all areas of its business. Building a one-stop-shop multibank on the Transit 2.0 platform is one of the priorities for the treasury function at the moment. Security is a crucial factor in exchanging financial messages with our partners. Interacting with banks via Transit 2.0 using an API connection helps us minimize information security risks and optimize data interchange processes.”
Natalia Moskalenko, Head of Corporate Payment Product Development, Raiffeisenbank:“Thanks to Transit 2.0, Severstal’s treasury will be able to use a single interface to manage accounts and to promptly exchange financial documents. Together with the corporation, we have decided to connect them to the platform via API that offers multiple advantages in comparison to file exchange. Thanks to API, clients can use our services both in ERP systems, and in treasury management systems and any self-developed recordkeeping systems.”
Alexander Nam, Managing Director for Technological Services, NSD: “We are happy to continue efficient cooperation with Severstal and provide all options offered by the Transit 2.0 platform. We see market demand for advanced services that help optimize the work and improve efficiency of a treasury function. The flexible integration mechanisms offered by NSD make it possible to customize the product for specific business requirements. We hope that the platform will continue growing fast thanks to strong support from market players.”