Sberbank registers growing interest in Smart Invoices service
The bank reports that more than a million payments were made using its Smart Invoices service in August.
Clients of Russian banks are warming up to smart payment solutions, as indicated in an announcement made by Sberbank Rossii PAO (MCX:SBER) earlier today. The bank said that, in August, more than a million payments were made by Sberbank clients using the Smart Invoices service.
Igor Mamontov, Director of the Payments and Transfers Division of Sberbank, commented:
“With the knowledge of what bills people pay and using special algorithms to process this data and create personal offers we are able to provide a new level of service to all clients. Clients receive invoices that are valid for them at a convenient time. Smart Invoices is a good example of a service that lets us treat every client with the right level of care and attention thanks to modern information technology.”
As the bank has data about the payment activity of clients and the latest information about new accounts, it can easily predict when the client plans to make a payment, and sends the client an SMS with the account details. In order to make the payment, clients simply have to send the code that they receive via SMS to number 900.
Underlining the increased use of novel payment solutions by its clients, Sberbank also said that the number of users of its Auto Payment service has exceeded 35 million.
Let’s recall that Sberbank has recently become the first company whose product successfully passed the piloting phase of the Bank of Russia’s regulatory sandbox. Sberbank’s service helps remotely control permissions to carry out transactions using corporate client accounts.
The piloting was carried out by professional associations of financial market participants and interested state bodies. The Bank of Russia and expert councils that are created under the regulatory platform have made recommendations and recognised the introduction of the service as viable.
The regulatory sandbox of the Bank of Russia was launched in April 2018. It is a mechanism for piloting new financial services and technology that require changes to regulations. The use of innovative financial services, products and technology is modelled in the platform. As a result of the pilot, a financial service or technology can be approved through subsequent changes to the legal framework and can lead to their commercial roll-out.