Marketplaces reduce risks of manipulation and deception of investors
This was explained by Pavel Dengin, Deputy General Director for Development of INFINITUM Asset Services, on February 18 during the open discussion under the name “How a private investor can avoid falling victim to dexterous manipulators: the role of the government, market participants and society” that was organized at the platform of the Association of Russian Banks.
In his speech he noted that the risks of improper sale of financial products most often occur during the performance of a transaction at a bank branch, where the citizen sometimes comes to close a deposit and ends up holding a structured note. In this regard, despite the threats of online fraud, purchasing investment instruments online is preferable for investors because it allows them to study all documents without haste, assess their attitude to the risk, select products suitable for their risk profile and compare them with each other, and finally, simply take time to calmly think it all over without outside pressure.
“The goal of all the Marketplace and our Financial Platform participants is, among others, to create a technological platform that guarantees investor security and provides the conditions for a full understanding of the features of the financial product being purchased and the risks associated with it. This is how we can defeat misselling and protect the consumer," said Pavel Dengin. - It is important for an investor to be able to choose and compare products from different vendors on a single platform, which is a significant advantage of the open sales model - a Marketplace versus the current state of affairs, where the consumer is offered financial products from only one financial group".
The Financial Platform (https://platform.finance) is a state-of-the-art technological solution for online participation unit transactions (participation unit supermarket) developed by INFINITUM Company Group in 2017. In October 2020, the Bank of Russia decided to include information about the INFINITUM Asset Services in the register of financial platform operators.