Breaking News
VTB has increased the productivity and reliability of its digital investment brokerage service after activity more than doubled since the start of 2020
VTB Bank has successfully completed the first stage of an equipment upgrade to ensure the continued reliability and high-performance of its brokerage business. The core of the trading and database server have been updated. The productivity, reliability and stability of the systems have been improved to account for increased activity.
Since the beginning of 2020, the number of daily users of the VTB My Investments application has doubled and the number of active sessions at the time of trading on the Moscow Exchange tripled. The current volatility in capital markets has caused a surge in activity on the app but the system has been able to operate as normal throughout. Full technical support is also being provided remotely by VTB’s IT team.
Also in March, the annual stress testing of VTB’s digital brokerage business took place on the Moscow Exchange and was successful, proving its resilience and capacity. All the necessary data was collected for further analysis.
Vadim Kulik, Deputy President and Chairman of VTB Bank Management Board, noted:
“Despite the heavy load on our IT systems due to the explosive growth of customers on VTB brokerage services, we are continuing to increase their resistance to high volumes. We’ve now carried out the first stage of the planned scaling and optimisation of the trading systems for brokerage services and we will continue to work to increase the reliability and accessibility of our services for VTB clients. ”
Vladimir Potapov, VTB Capital Investments Chief Executive Officer, Senior Vice President, Head of VTB Brokerage Services, said:
“March was a record month for VTB brokerage business. The volume of transactions increased by two and half times the average monthly indicator, account replenishment was up three times and the number of new customers increased by 50%. Thanks to coordination and cooperation between the VTB Capital Investment team and the IT team, we have managed to go through peak days without any failures whatsoever. Providing high-quality, reliable and convenient services for customers is our top priority. ”
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