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May 24, 2018

Russian Railways and Sberbank sign memorandum on cooperation in the field of innovative technologies

Russian Railways and Sberbank have signed a memorandum of cooperation.

The document was signed by Oleg Belozerov, CEO and Chairman of the Board of Russian Railways, and German Gref, President and Chairman of the Board of Sberbank, during the St. Petersburg International Economic Forum on 24 May 2018.

The memorandum expresses the parties’ intention to engage in mutually beneficial cooperation in the field of logistics and exchange experience in personnel management and develop modern technologies and other areas needed to meet the requirements of Sberbank’s clients and Russian Railways, as well as to develop joint financial activities and build long-term business models to facilitate the development of society.

The financial areas for possible cooperation also include financing the investment programme of OJSC Russian Railways through public capital market and bank lending tools, expanding cooperation on the salary project, preferential mortgages for the Company’s employees and expanding cooperation in Internet acquiring.

“Modern Technologies” provide for cooperation in the “Digital Logistics” project and includes the integration of banking services with the electronic exchange of freight cars, data exchange, the creation of models for rating consignors and cargo carriers, cooperation in creating Russian Railways’ own cyber security system, elaborating the use of Sberbank’s Internet of Things (IoT) platform for the processes of Russian Railways, especially the Smart Station project and monitoring railway infrastructure defects, and creating the Internet of Things (IoT) platform of OJSC Russian Railways.

Cooperation is planned on the joint use of the capacities of the Data Processing Centres of Sberbank and Russian Railways, consultations and exchanging experience on cloud technologies, exchanging experience on issues concerning robotics, cooperation in developing new directions for the state programme The Digital Economy of the Russian Federation (Digital Transport and Logistics, Smart City and Digital Healthcare) and exchange of experience on the use of Blockchain technology.

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