BFC Bulletins Monthly News Digest
Tags Digital Transformation Open Banking Startups
Sberbank adopted a forward-thinking approach to creating its new, flexible platform, and the bank has decided to open access to elements of its platform through an API as well as partially publish its source code. The result of this has the bank pushing the boundaries of what it means to be a bank and taking a step towards becoming a technology company.
The new platform came about as a result of the bank wanting to push into other markets, and not just as a mortgage holder. Specifically, the bank began thinking about how it could grow in the following ways: be more customer-centric, provide a single space for information, create flexible mechanisms for complex products, offer an open API, incorporate machine learning, maximize its reliability, have horizontal scaling on low-end equipment, make full use of open-source technologies and build and maintain a data storage and processing system.
