PJSC Sberbank : Sber launches self-inspection of collateral for corporate borrowers

Sber has revamped the preparation of collateral statements for entrepreneurs applying for corporate loans. Corporate clients who have long-term relationships with the bank can independently inspect simple collateral (apartments, cars, special equipment, standard equipment and commercial premises); a bank employee is thus not required to inspect it.

A self-inspection is facilitated by a special mobile application with an intuitive interface. The app identifies the geolocation and gives tips on photo and video uploading details. After the client completes the inspection, the bank employee receives the data and reaches a conclusion on the transaction. The new framework speeds up the loan application process by minimizing the time spent on screening. For example, if freight transport is used as collateral, the inspection time is reduced by a factor of up to three.

Sergei Bessonov, vice president, director of Lending Products and Processes, Sberbank:

"The self-inspection project is a prime example of how fast and tech-driven changes can be when it comes to banking. We started piloting the service in late 2021 and thus far offer it to corporate customers with a positive credit history of at least three years at our bank and with deals that have a borrowing limit of up to RUB 300 mn. The service is available to entrepreneurs in different segments, from micro-sized businesses to large companies. We expect that the volume of assets cleared for self-inspection will grow to reach up to 50% of the loan portfolio by 2023. Not only does the all-new service speed up lending, it also complies with ESG principles: reducing the number of rides, it reduces emissions accounting for 15% of all greenhouse gases. According to our estimates, the self-inspection service should cut the carbon footprint by 680 metric tons of СО₂ per year, an equivalent of 255 car trips from Russia's westernmost to its easternmost part."