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Sberbank sets up MVNO for mobile banking

Sberbank sets up MVNO for mobile banking

Sberbank sets up MVNO for mobile banking

Russia’s largest banking group, Sberbank, is to launch mobile banking via a mobile virtual network operator (MVNO).

According to Russian business daily Vedomosti, the bank has created a new subsidiary, SB-Telecom, which will act as the MVNO.

The development is at the early stage as the new firm hasn’t received any licences yet from Roskomnadzor – the Federal Service for Supervision in the Sphere of Telecom, Information Technologies and Mass Communications.

The plan is for SB-Telecom to provide telco services for Sberbank’s customers as well as firms within the group.

The subsidiary, which has a total equity of RUB 100 million ($1.5 million), is not owned by Sberbank directly, but via two companies Digital Technologies and Digital Assets.

White, blue and read

Recently, Sberbank initiated a number of other changes to its banking operations.

It announced a major technology overhaul. The bank’s senior MD of technology, Mikhail Khasin, did a presentation on the bank’s new business development platform at a recent conference, TAdviser SummIT.

The bank unveiled a new digital product, Sberbank Messenger – a communication platform for users to interact with friends and colleagues as well as with services providers, shops and businesses.

Sberbank Kazakhstan and OpenWay also launched a cardless cash withdrawal service on the Way4 platform.

Written by Antony Peyton

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