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

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

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

Sergei Bessonov, Vice President, Head of Lending Products and Processes, Sberbank:

“The self-inspection project is a great example of the speed and technological change in banking. We started piloting the service in late 2021 and so far we are offering it to corporate clients with a positive for at least three years in our bank and with transactions with a borrowing limit of up to 300 million rubles. The service is available to entrepreneurs of different segments, from micro-enterprises to large enterprises. We expect that the volume of assets cleared for self-inspection will increase to reach up to 50% of the loan portfolio by 2023. The all-new service not only accelerates loans, but it is also in line with the principles ESG: by reducing the number of journeys, it reduces emissions representing 15% of all According to our estimates, the self-checking service should reduce the carbon footprint by 680 tonnes of СО2 per year, which is the equivalent of 255 car journeys from the westernmost part to the easternmost part of Russia.”

Warning

Sberbank of Russia published this content on February 21, 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unmodified, on February 21, 2022 1:50:05 PM UTC.

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