Sber’s transformation into tech company is key topic of discussion at Sibos 2021

Oct 13, 2021

The world’s premier financial services conference, Sibos 2021, takes place from October 11 to 14. David Rafalovsky, Sberbank executive vice president, Sber CTO, and head of Technology, participated in this year’s event. During his presentation, he talked about how Sber transformed itself from a financial institution into a tech company.

Opening his speech, Rafalovsky shared Sber’s experience of building its own ecosystem, offering clients a variety of services, from ordering taxis to watching movies. According to Rafalovsky, growth opportunities are limited in banking, so financial institutions must go beyond offering standardized financial services in order to grow. Against a backdrop of global digitalization, it is not enough for clients to simply have quality banking – they need more, both at the product level and at the emotional level. One of these tools is virtual assistants.

David Rafalovsky, executive vice president, Sberbank; CTO, Sber; head of Technology:

“The decision to design our own Salute virtual assistants, who help clients carry out complex transactions between bank channels and create a unique customer experience, had a synergistic effect. It was important for us to craft a connection with the client at the emotional level, which was made possible by a multimodal architecture in which voice, touch, gesture, and computer vision are brought together to provide a stunning user interface.”

Rafalovsky also noted that virtual assistants will be omnipresent in a few years. They will be present on a variety of devices and are likely to take on a more complete form, e.g., they may appear as holograms complementing a voice. These are assistants people will be able to trust, nurture, and be friends with.

Sibos is an annual international conference, exhibition, and networking event organized by SWIFT for the financial industry. The event aims to discuss the most relevant issues facing the financial community. Sberbank is a traditional participant in Sibos. In 2021, the focus of the conference is the relaunch of the financial ecosystem and its adaptation to meet the requirements of clients, regulators, and society in the future.