The number of working capital loans issued online by Sber within seven minutes surpassed 4,000 in 2021. The total portfolio of agreements concluded since the launch of the product has reached RUB 621 bn, and the credit portfolio stands at RUB 340 bn as of August 1, 2021.

All of this was made possible by AI technology. Based on the customer's transaction information, credit history, and other data, the neural network understands when the customer requires financing and proactively offers them the necessary amount.

The launch of Online Lending brought about a genuine revolution on the corporate working capital market, reducing the application processing time by a factor of several thousand, going from two to three weeks to seven minutes. We launched the first version of the service in 2018 and since then have been constantly working to expand the available offers and improve the technology. Over 13,500 approved funding offers are currently available to clients through the Online Lending service, including collateral loans, credit against government contracts, loans to individual entrepreneurs, preferential lending under Ministry of Economic Development programs and preferential lending to agricultural producers under Ministry of Agriculture programs.

Sergey Bessonov

Vice President, Director of the Lending Products and Processes Division, Sberbank

Apply for an online loan on the SberBusiness mobile app. The amount requested is unlimited and is subject to customer evaluation by the bank.

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Sberbank of Russia published this content on 17 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 August 2021 16:03:05 UTC.