How Sberbank is transforming from a bank into an online ecosystem

Russia’s Sberbank has a plan to create a fully-functional online ecosystem that combines banking services and non-financial services by 2024. To do this, the bank has been spent more than RUB 60 billion on a number of efforts. These include working with established companies, buying out companies and creating their own online services from scratch. Here are a few highlights of what Sberbank has been working on:

  • Working with established companies
      • Yandex.Market – the two created a market place in 2018 that hopes to become Russia’s version of Amazon.
      • Rambler Group – Sberbank recently announced that it will buy 46.5% of the group’s online business, ultimately allowing the bank to integrate itself into a number of existing online services run by the group.
  • Ownership over/controlling interest in existing companies
      • Yandex.Money – in 2012, Sberbank acquired a 75% minus RUB 1 share of the payment system.
      • – Sberbank purchased 100% of the site, which provides job search and staff recruitment services, in April 2019.
  • Own initiatives
    • DomKlik – DomKlik provides online advertisements for the sale of apartments.
    • Talk and Sbermobile – launched in 2017 as a pilot, the two services are virtual mobile operators that are based on Tele2 networks.
    • SberCloud – SberCloud offers users virtual data centers as well as the possibility to use artificial intelligence to solve certain tasks.