Samsung Electronics and Sberbank of Russia has signed a memorandum of cooperation to work together in various projects. The companies plan for joint work in areas such as corporate mobile devices, virtual reality, solutions for the protection of corporate information and personal data, biometrics, projects related to employee training and development of banking products.
As a part of the partnership, Samsung will participate in Sberbank’s loyalty programs. Samsung will also provide special conditions for devices for the bank’s employees, as well as unique mobile solutions, a press release from the bank stated. The companies also plan to conduct “regular joint innovative and technical seminars” for employees and clients of Sberbank. The two companies had recently announced their partnership to bring Samsung Pay to the bank’s customers.
“A strategic partnership with Samsung will give us access to the most advanced technologies in a number of promising areas. In addition, we are actively working on the efficiency of our internal processes, and we expect a synergistic effect from our own developments and technologies from Samsung,”said Teymur Shternlib, Sberbank’s senior vice-president.
Sberbank had recently announced the introduction of face recognition technology in their Internet banking services. They also tested biometrics on the face in one of their Moscow offices, installing an ATM with face detection technology. The bank now plans to further develop the ATM network and terminals with face recognition technology.
“We are confident that the partnership between Samsung and Sberbank will be successful. Sberbank is known as one of the most technologically advanced banks in Russia, actively using the latest solutions to increase its own efficiency and provide the best modern customer service. Thanks to the expertise of Samsung in the field of digital technologies, Sberbank will be able to strengthen its position in the title of the most innovative bank in the country,” said Alexander Krasnov, director of corporate business development at Samsung Electronics.
Headquartered in Moscow, Sberbank is the largest bank in Russia. The bank has widest network of divisions offering the full range of investment banking services. The Founder, Central Bank of the Russian Federation, is main shareholder of the Savings Bank. Over 40% of shares of the bank belong to foreign companies. About half of the Russian private deposits market, and one-third corporate and retail loan in Russia fall to Sberbank.
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