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Sberbank drops the “bank” from its name to take on tech firms

Sber has launched a series of digital services alongside its tech company revamp. These include SberBox, a TV streaming device, SberPortal, a smart speaker with six mics and a screen that provides gesture and voice recognition, Salute, a family of virtual assistants, and finally, the bank’s SmartMarket has launched. It allows businesses and entrepreneurs to create their own apps and work with Sber via a revenue-share model.

“It’s a huge investment, not a big investment,” the bank’s chief technology officer, David Rafalovsky, tells Reuters. “We’ve always had a chip on our shoulder, we believe we are a technology company with a banking license.”

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sberbank, russia, banking