PJSC Sberbank : Sber and Etagi streamline LOC opening for real estate deals

The real estate agency Etagi has joined Sberbank API.Letter of credit as a user. From now on, when signing real estate deals, the agency can generate applications for a letter of credit and forward them to customers via the SberBank Online mobile application.

Any Etagi realtor can now automatically generate the parameters of a client's letter of credit and send them from their CRMs to the bank by pressing one button, without entering additional data. The application for a letter of credit is then sent to the client through the SberBank Online mobile application. They just need to follow the link and confirm the opening of the letter of credit. A few minutes pass between the moment the client sends their account details to the moment an account is opened.

Evgeny Kravchenko, senior managing director, director of Trade Finance, Sberbank:

"This integration makes the customer journey even simpler and more accessible, significantly reducing the transaction time. We are glad that optimizing and improving this service we work in conjunction with our reliable partner, the company Etagi. We will continue to further develop and improve the client experience hand in hand with other real estate agencies."

The integration of the new Sber service will enable the agency to make real estate purchases and sales transactions as simple, understandable and fast as they can be, while the full cycle of settlements for transactions is already available to realtors in any city of Russia.

The first deal taking advantage of the new scheme took place in the city of Ukhta. It was virtual through and through: an Etagi realtor formed the parameters of the letter of credit in the system, and the client confirmed the conditions and opened the letter of credit in the SberBank Online application. After the transfer of the deed, the bank sent the money to the seller's account.