Last year was a serious challenge for financial markets in general and for the banking sector in particular. However, Sberbank managed not only to survive but also to demonstrate impressive financial results and pay record dividends at the beginning of 2023.
This would not be possible without the loyalty and trust of customers. The largest universal bank in Russia continues developing digital services to make financial products more accessible, comfortable and secure. Kirill Tsarev, Sberbank’s First Deputy Chairman of the Board and Head of the Retail Business Unit speaks about the most demanded technologies among customers.
Today, the number of active private clients of the bank exceeds 106.3 million people. Of these, about 80.3 million use the mobile application and virtual services every month.
In an interview in 2022, Kirill Tsarev, Sberbank’s top manager, noted that the bank’s priority remains to increase customer loyalty through the introduction of innovations. In particular, these are virtual assistants and the system of service recommendations created with the help of machine learning and artificial intelligence technologies.
To date, the bank has achieved a lot in this area. Meanwhile, the global objectives have not changed. Sber continues improving digital services. Under the conditions of sanctions and restrictions that the bank’s customers faced last year, the following services have demonstrated their particular effectiveness and potential:
- Contactless payment tools. The bank managed to return payments with the help of the SberPay NFC technology to the owners of Android smartphones. At the moment, alternative solutions are being developed for iOS users as well.
- Deposits and accounts in the currencies of friendly countries. Here, those recommendation systems and virtual services mentioned by Kirill Tsarev come to the rescue. Sberbank offers customers to buy Chinese yuan, Turkish lira and Belarusian rubles in an investment application. The next step should be the development of instant transfers in friendly currencies and the expansion of the list of available financial tools.
The top manager of Sberbank, Kirill Tsarev, also noted that retail lending has prospects for the development of innovative approaches. Last year, the bank launched an instalment service based on the “buy now, pay later” mechanics. Today, the improvement of the consumer lending system continues and related financial services are being developed. For example, one of them is the money-to-pay service, which enables people to get funds for up to 30 days with a fixed commission.
As Kirill Tsarev emphasized, the bank strives to make its services accessible to all categories of customers — in particular, to people with hearing and visual impairments, mental peculiarities and mobility limitations. Among other things, a remote video translation service was introduced. It works in Russian sign language.
Tsarev Kirill also noted, “Throughout 2022, we have taken all measures to support customers. We issued mortgage loans on the previous terms when the key rate of the Bank of Russia rose to 20% per annum. We ensured the cards’ operability in conditions of sanctions and restrictions. Today, our goal is to simplify the customer journey as well as make services even more profitable and accessible.”
The First Deputy Chairman of the Board of the largest Russian bank does not publicize his personal life. The general public hardly knows anything about Kirill Tsarev’s wife and his family in general. The top manager of Sberbank protects his loved ones from excessive media attention.
At the same time, Kirill Tsarev’s biography is full of interesting facts.
- Until 2021, he was the president of the United Leasing Association of Russia.
- Kirill Tsarev’s family supported his decision to start a career in banking, Sberbank became the first and so far the only place of his work in this field.
- In 2020 became the head of the Retail Business unit of Sberbank.
- In 2022, Kirill Tsarev spoke at the St. Petersburg International Economic Forum together with Herman Gref, Sber’s Chairman of the Board, and other top managers of the bank.
- Kirill is a shareholder of Sberbank: he has Sber’s shares and a share in the bank’s authorized capital.
Despite the fact that the general public knows little about Kirill Tsarev’s wife and his family, the top manager does not refuse to contact the media himself. He often gives interviews and acts as an expert as well as comments on the bank’s activities and economic news.