Yandex plans to launch the issuance of loan products within its ecosystem as early as 2022, according to a review by VTB Capital following meetings with investors.

Yandex may launch loan products within its ecosystem as early as 2022

According to VTB, Yandex intends to launch pilot projects in the third quarter of this year. We are talking about services within Yandex.Plus and low-risk products related to e-commerce (buy now, pay later). Now the company is forming a team in the financial services segment and developing their technological core.

According to RBC, Yandex representatives do not comment on analysts’ reports, and also do not name the timing of the launch of financial services.

Recall that in April Yandex concluded agreement on the purchase of the bank “Acropolis”. As a result of the deal, Acropolis licenses were transferred to the company, including the universal banking license, which is needed to develop the direction of financial services and launch new products for users and partners.

A source: RBK


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