Sberbank branches throughout Russia have become the key to the implementation of the company’s ambitions to transform into Russian Amazon: the Bank plans to make online purchases from them. It is reported by Financial Times.
The British edition indicates that the Sber wants to use his competitive advantages to offer customers everything – from shipping food to entertainment streaming services. It is argued that the creation of its own ecosystem is key to the bank, since “the high-tech industry is already invading its financial territory.” As a result, the organization wants to combine about 40 companies in one “Super Using”.
First Deputy Chairman of the Board of Sberbank Lev Hasis called these efforts by the Priority of National Security. “If such ecosystems do not appear in Russia, the Russians will have to live in American and Chinese networks. Apple has its own ecosystem based on monopoly access to popular devices. Google and its systems are also a separate ecosystem. There is still Facebook. All of them develop Online trading systems, payment systems, and so on, “he explained.
According to Financial Times, Sberbank is in a unique position, having 100 million customers, 27 million of which use a mobile application daily. In the first half of 2021, the Company reported a record profit of $ 8.5 billion.
Moody’s analysts explain the success of the Russian bank in that it adheres to such an approach to optimizing expenses, which are based on AI technologies. This allowed him to save in 2020 billion rubles in 2020 billion and reach the cost effectiveness rate of 34 percent is lower than that of banks in Western Europe and Scandinavia.