Russia Launches “Multibank” to Streamline Corporate Finances

Major companies will soon manage accounts across multiple banks through a single digital interface.

Russia’s Alfa-Bank has unveiled “Multibank,” a new service designed to let corporate clients oversee accounts in different financial institutions from one centralized platform. The rollout is part of the country’s broader digital transformation in finance, initiated by the Bank of Russia, according to Gazeta.ru.

Initially available to clients working with the nation’s largest banks, Multibank is built on Alfa API and Alfa ID technologies, already integrated with enterprise ERP systems and fintech partners. The platform allows users to view balances and transaction histories from other banks — and, in the near future, send payment orders directly from Alfa-Bank’s interface.

“This is a new level of online banking that will simplify financial management for large businesses,” said Sergey Parshikov, head of Alfa-Bank’s Digital Channels Development Department for Corporate Clients.

Alfa-Bank plans to expand the service’s capabilities, further enhancing convenience for its customers. The launch of Multibank reflects a wider trend toward digitalization in Russia’s financial services sector.