In 2014, Sberbank spent twice as much on IT innovation than Yandex did
The expenditure is said to have included new projects and investment in IT infrastructure, such as new data centers
Jul 02, 2015
Sberbank, Russia’s largest government-owned savings bank, last year spent on IT solutions $1.3bn, or 5% of its operating revenue, a metric that the bank’s top management believes is "in the global ballpark," RBC reported. The expenditure is said to have included new projects and investment in IT infrastructure, such as new data centers.
"This was much more than the total spending budget of Yandex [Russia’s search giant—Editor’s note]," the source quoted Sberbank First Vice Chairman Lev Khasis as saying.
According to Mr. Khasis, about 3% of the state bank’s overall staff are employed in its IT division. The bank has also set up a dedicated subsidiary, Sberbank-Technologies, to provide up to 70% of all IT-related solutions the bank uses, including software development.
Mr Khasis said that with new services, such as Apple Pay and Android Pay, new opportunities are opening up for the digital companies. Both Apple and Google will be more aware of their clients’ financial activity, and will help the users rely more often on a smartphone as a "life control point," the top manager pointed out, adding that Sberbank is shooting for leadership in the race for the customer in a digital environment.
"This was much more than the total spending budget of Yandex [Russia’s search giant—Editor’s note]," the source quoted Sberbank First Vice Chairman Lev Khasis as saying.
According to Mr. Khasis, about 3% of the state bank’s overall staff are employed in its IT division. The bank has also set up a dedicated subsidiary, Sberbank-Technologies, to provide up to 70% of all IT-related solutions the bank uses, including software development.
Mr Khasis said that with new services, such as Apple Pay and Android Pay, new opportunities are opening up for the digital companies. Both Apple and Google will be more aware of their clients’ financial activity, and will help the users rely more often on a smartphone as a "life control point," the top manager pointed out, adding that Sberbank is shooting for leadership in the race for the customer in a digital environment.