The Central Bank will seek “Federal structure” in the Internet

The Central Bank will begin to use bid data to search for “Federal structure”. On Thursday at the meeting of the Expert Council for protection of rights of financial services consumers and minority shareholders of the Central Bank of the Russian Federation said the head of Department of methodology and financial inclusion the Central Bank Mikhail Mamuta.

“We hope to implement before the end of this year,” Mamut said, adding that now the prototype is being tested.

The technology was developed by Yandex Data Factory. Specialized algorithm searches for the websites of organizations offering consumer loans. Using machine learning technology Matriksnet evaluates their legal status (the presence or absence in the register of microfinance organizations, which leads the Central Bank). After the implementation of the technology, the information about suspicious organizations to be experienced in the territorial units of the Central Bank. It will be verified and in case of detection of illegal issuance of loans, the staff of the Bank will pass on information to law enforcement agencies.

During testing it was discovered already 2169 suspicious website. The parties did not disclose the cost of developing technology.

“Is not expensive compared with the cost of expensive car. We expect that we will save by reducing the expenditure of time of our employees,” said Mamut.

The direction on work with “big data” — Yandex Data Factory (YDF) was launched in the “Yandex” in December 2014. in 2015 YDF brought “Yandex” first revenues, said the President of group of companies “Yandex” Arkady Volozh investors, announcing the year’s results, however, without naming specific targets.