With the economy emerging from a recession, the retailer, e-commerce and banking sectors see both risks and opportunities. In coming years, it is expected that the country’s banking and retail sector will recover. With the improving economy, household incomes and spending are expected to narrow the gap with the European average in the long run, presenting even greater opportunity. Traditionally, there has been a large investment of government ownership in Russian baking sectors. Despite this, there has been a general trend towards improved governance and regulations. As the banking sector embarks on a path towards reform and privatization, there is substantial opportunity, greater competition and further baking section penetration. Furthermore, there is an expected uptick in overall credit growth and general consumer spending with the recovering economy and privatization in the industry. Consumers are expected to spend more on essential and luxury goods (with large affluent populations in Moscow and St. Petersburg driving sales of luxury goods), but it is the increasing influence of Western retail trends in the long run that will increase the appeal of imported goods. As the currency strengthens, making imported goods less, expensive, Russian consumers will look more and more to cross-border buying for the sake of “bargain shopping”. As the intersection of banking and commerce in Russia are evolving, knowing your customer has never been more important. The Worldview platform has your Russian electronic Identity Verification needs covered. Our data providers cover approximately 70% of the adult population with the following elements: First Name, Second Name, Surname, DOB, Inner Passport Number, Tax Identification Number.