The President and Chairman of the Board articulated a clear strategic shift for Sberbank, outlining a move from a traditional financial institution toward a people-centered organization. This vision was shared by German Gref, the Chairman of the Board of Directors, during the plenary session titled “The financial sector as the basis of stability of the Russian economy,” held on Finance Day at the international fair and forum “Russia” at VDNKh. He explained that the focus would be on recognizing each customer as a person with a unique set of needs, concerns, desires, and life situations, rather than simply viewing them as figures in a ledger or data point in a corporate system.
Reflecting on the bank’s journey, Gref recalled that two decades ago the typical wait time at a Sberbank branch could stretch to 40 minutes, and even straightforward transactions demanded considerable patience. He emphasized that such experiences have long since ceased to define the customer service standard at Sberbank, thanks to continual improvements and a relentless drive toward efficiency. In this light, 2024 was described as one of three pivotal turning points in the bank’s evolution, marking a break with the past and a step into a more adaptive, service-oriented future.
The leader traced the company’s development milestones, noting that the first turning point occurred in 2014 with the successful centralization of the bank’s systems. The second came in 2020, when Sberbank undertook a complete digital transformation of its services, moving away from legacy processes toward a seamless digital experience. He indicated that these shifts laid the groundwork for a broader, more integrated approach to serving customers in a digitally driven world.
At the end of 2023, the supervisory board approved a new development strategy designed to build an ecosystem of services that centers not just on financial products or customer needs, but on the person as a whole. The aim is to create a holistic platform where every interaction, be it with a legal entity or an individual accessing resources or entering the bank’s premises, begins with recognizing the person behind the action. This emphasis on the human element underscores a broader commitment to responsible, people-first banking.
Gref also observed that, in the past, a large portion of the bank’s workforce focused primarily on processing transactions. The transformation has shifted the workforce toward delivering more meaningful, value-added services that enhance the customer experience and address real-life situations beyond routine banking tasks. In this new era, the bank introduced digital services that set market standards and pioneered peer-to-peer transfers within Russia, enabling money to move directly between people without a branch visit. This innovation captured the attention of the audience and highlighted a broader trend toward decentralization of routine banking operations.
The President highlighted Russia’s leadership in lending speed, noting that Sberbank can offer rapid financing for small businesses and corporate clients. He stated that a substantial portion of loans—about 80 percent—are now provided under expedited timelines, with approvals often occurring within minutes. He pointed out that achieving this level of speed was unimaginable just a few years ago, yet it has become ingrained in the market standard today, reflecting a broader push toward faster, more accessible financial services for businesses of all sizes.
Looking ahead, the conversation turned to the potential impact of biometrics as the next major breakthrough in banking. Gref expressed the view that widespread biometric technology could eventually render traditional bank cards obsolete, reshaping how customers authenticate themselves and access financial services. This perspective signals a future where identity verification becomes more seamless and secure, further redefining the customer experience in the digital era.