In a new demonstration of its commitment to develop or integrate the newest technologies, Sberbank, Russia’s national savings bank, has announced a competition for Russia-based IT developers to create new prototype solutions enabling the provision of financial services in real time.
The bank is leaving it to competition participants to pick areas of solutions applications. The only strict requirement is for developers to tap into in-memory technology (in-memory data grid or in-memory computing). Coming up with Internet of Things (IoT) and/or artificial intelligence (AI) based solutions will be a plus, Sberbank pointed out.
Among the key selection criteria are the innovativeness and applicability of an idea, the use of IMDG/IMC technology, the availability of an operational prototype, and the scalability of the solution.
A team to offer the best solution will receive 400,000 rubles (almost $7,000 at the current exchange rate) in prize money, the bank promised.
Contenders are expected to pitch their ideas and present prototypes by Sept. 29.
“In-memory tech has evolved from just a trend du jour into an industrial standard for solving problems that require a top level of productivity. The international majors tap into these very actively, and Sberbank is paying special attention to promoting in-memory competencies across the country,” said Mikhail Khasin, who manages Sberbank’s technology department.
Among the bank’s most recent high-tech initiatives are:
- Participation in a consortium of the country’s biggest banks to developed a distributed ledger dubbed ‘Masterchain;’
- A pilot program which could see cash delivered by drone;
- An R&D partnership on data analysis and artificial intelligence with top Moscow universities;
- A “strategic agreement” with Sistema, a major Russian conglomerate, and Sistema_VC, the venture arm of Sistema, in the fields of advertising technology and Big Data monetization.
The bank also intends to co-develop a giant “e-commerce ecosystem” with Yandex, based on a $500 million investment from Sberbank, and a “full-fledged e-health platform,” following the acquisition of a controlling stake in DocDoc.ru, a Moscow-based startup.
