Sberbank Launches Digital-Only Lending via New App
Russia-based Sberbank has launched digital-only lending, following a series of steps in the fintech space. The bank’s new app allows users to apply for a consumer loan and receive a decision without having to visit the bank’s office. The app is currently available to Android users and will become available on iOS within a few months, according to a press release from the bank.
Managing Director of Sberbank's Borrow and Save Division Sergey Shirokov commented: “Sberbank aims to make digital as many services as possible. Today, we present a convenient service to users of Sberbank Online app for Android which allows applying for a consumer loan at any time and in any place with no need to visit the bank’s office. Even now, more than half of the bank’s clients apply for consumer loans online, receiving a decision in several minutes.”
In 2018, the bank continued its push to digitise a number of its services and partnered with young fintech companies to leverage new technologies such as e-commerce, advertising technology, educational technology, the internet of things (IoT), big data, machine learning, artificial intelligence (AI), robotics and cybersecurity.