Sberbank and RVC signed an agreement on innovative and technological cooperation aimed at the discovery of new technologies and boosting the efficiency of activities of the parties at the 21st Saint Petersburg International Economic Forum. The document was signed by Sberbank’s Senior Vice President and Head of Sberbank CIB Igor Bulantsev and CEO of RVC Alexander Povalko.
The agreement envisages the organisation of joint events to discover and implement modern solutions in the banking sector, as well as the exchange of analytical information about new technologies and innovative activities.
The parties showed interest in technological solutions aimed at increasing the operating efficiency of the bank and its clients. They plan to launch joint acceleration programmes in the area of financial technologies, develop cooperation models to raise investment in high-tech and rapidly growing companies, and develop joint financial products to finance companies of the “New Economy”.
As part of the agreement, RVC will help the bank to work with participants of RVC’s acceleration programmes, including GenerationS, the biggest startup accelerator in Russia and Eastern Europe. RVC will also provide assistance in the coordination of negotiations between the bank and leaders of the ranking of rapidly growing technological companies TechUspekh (Technological Success) and companies from RVC’s portfolio.
Sberbank sees RVC as a strategic partner and plans to actively expand cooperation in discovering new technologies that have a synergy effect with innovative activities of the bank.
“The agreement is in line with our efforts to implement innovations in the bank and, on a broader scale, in the Russian economy,” said Sberbank’s Senior Vice President and Head of Sberbank CIB Igor Bulantsev. “I am sure that the implementation of the agreement and cooperation with RVC will allow us to develop new technological solutions more actively for the benefit of our clients.”
“Cooperation with Sberbank will become an important step to promote innovative activities in the Russian banking sector. The fulfilment of the agreement will allow us to establish effective mechanisms for searching for and implementing promising technologies in the bank’s operations. Our joint efforts will contribute to improving technological solutions and developing the industry in general,” said CEO of RVC Alexander Povalko.
Machine learning, big data, artificial intelligence, blockchain, cybersecurity, advertising and marketing, distance education, knowledge management, augmented reality, and the internet of things are among the key technological areas of cooperation.
Information for editors
RVC is the Russian government’s fund of funds and the development institute of the Russian Federation. The main objectives of RVC are: encouraging the creation of Russia's venture capital industry and performance of the functions of the National Project Office of the Technology Initiative (NTI). RVC’s authorized capital amounts to RUB 30 bln. RVC’s capital is owned in full by the Russian Federation represented by the Russian Federal Agency for State Property (Rosimuschestvo). The total number of RVC funds has reached 22 (including two funds in foreign jurisdictions), with their total size of RUB 33 bln. The share of RVC is RUB 20.4 bln. The number of innovative companies approved for investment by RVC funds reached 214 in 2017. The total volume of approved investments is RUB 17.6 bln.
Sberbank is Russia’s largest bank and a leading global financial institution. Sberbank holds almost one third of aggregate Russian banking sector assets, it is the key lender to the national economy and the biggest deposit taker in Russia. The Central Bank of the Russian Federation is the founder and principal shareholder of Sberbank owning 50% of the Bank's authorized capital plus one voting share, with the remaining 50% held by domestic and international investors. Sberbank has more than 145 million customers in 22 countries. Sberbank has the largest distribution network in Russia with almost 15,000 branches, and its international operations include UK, US, CIS, Central and Eastern Europe, India, China, Turkey and other countries.
Sberbank CIB1 is the corporate and investment banking business of Sberbank. Its key areas of activity are corporate finance (including trade finance), the documentary business2, investment banking services, trade operations with securities, and private equity. Sberbank’s corporate and investment banking business provides integrated financial solutions and investment advisory services to its clients, which include major corporations, financial institutions, sovereign states and federal and sub-federal government bodies and organisations.
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