Bank of Russia Locks In Open APIs for 2026–2028: Businesses Get a Multibank

The Bank of Russia has written the development of open APIs into its "Main Directions for the Development of the Financial Market" for 2026–2028. For companies, this means the multibank idea is no longer an option offered by individual players. It becomes part of the regulatory framework for the next three years. A multibank gives direct access to accounts, statements, balances and payments at different banks from a single interface. RB.RU, together with Alfa-Bank, looked at how this works today.

What are open APIs and why do banks need them

An API (Application Programming Interface) is an interface through which one application requests data from another or calls a function. The open model adds two conditions: common rules for all participants and mandatory client consent for data sharing. Banks, fintech services and accounting systems talk to each other through a clear standard, not through individual agreements and homegrown integrations.

Until now, many companies have faced a different picture. They hold settlement accounts at two or three banks, and each bank has its own online banking portal, its own statement format and its own processing times. An accountant or CFO collects balances by hand or maintains a set of custom integrations, each of which has to be supported separately.

The multibank as the first practical use case

Of all the possible uses of open APIs, the multibank is cited as one of the first that works in practice. The reason is simple: the pain point is clear and measurable. A company needs to see its money as a whole, not in pieces.

According to RB.RU's description, a client connects accounts from different banks with their consent and gets unified access to key operations. The main capabilities:

• viewing user profiles and accounts at different banks;
• retrieving statements and current balances;
• working with payments without switching banking systems;
• accessing banks' services from a single entry point.

In effect, the banking interface is separated from the banking data. The company picks the window it prefers, while banks remain providers of accounts and settlement infrastructure. This is a shift for banks too: competition moves from "whose online banking looks nicer" to service quality, speed and terms.

Key parameters

• Technology: open APIs, a single standard for data exchange between banks, companies and services.
• Regulatory basis: the Bank of Russia's "Main Directions for the Development of the Financial Market" for 2026–2028.
• What is available to businesses: accounts, statements, balances, payments.
• Access condition: only with the client's consent.
• First practical use case: the multibank.
• Participant in the analysis: Alfa-Bank.

What the source material does not cover

The source text gives no list of banks already connected to the multibank, no timelines or fees, and no data on how many companies use the service. It also lacks details on security standards and on how consent is revoked. These questions will determine whether the model goes mainstream or remains a tool for large clients with a well-developed finance department. For now, one can speak only of a direction: the regulator has set its course, and a major bank is showing a working use case.

Where companies should start

The first step is an audit of your own banking relationships. List which banks hold your accounts, which systems receive data from them, and how much time goes into reconciling balances. If manual collection takes hours every week, a multibank delivers a quick payoff.

The second step is questions for the provider bank. Ask which banks are available for connection, how consent is issued and revoked, which operations are permitted via API and which remain available only in the online banking portal, and how limits and action logging work. Payment permissions require stricter control than read-only access.

The third step is to separate roles inside the company. Viewing balances and statements can be opened to a wide circle of employees, while creating payments is better left to a limited group with multi-step approval.

If the regulatory course holds through 2028, open APIs will become an ordinary part of corporate financial infrastructure. Companies that figure them out early will get a shorter cash management cycle and less dependence on a single bank.