Sberbank enters business process outsourcing market27 November, 2018
- The bank will create a major player in the field of BPO and software as a service (SaaS) for various business sectors.
27 November 2018, Moscow – Sberbank today announces the completion of a deal to acquire Intercomp, Russia’s leading business process outsourcing (BPO) company. Under the deal, the bank is purchasing a 100% stake in the company from a group of investors headed by Elbrus Capital. The parties signed legally-binding documents this September and the deal was closed after regulatory approval was received, including from the Bank of Russia and the Federal Antimonopoly Service.
First Deputy Chairman of the Executive Board of Sberbank Lev Khasis:
“Sberbank has carried out a number of significant technological and organisational transformations of its support functions and accumulated deep experience in building client service processes that are similar in size to those offered by global service providers. The combination of the bank’s unique experience and the expertise of Intercomp, a leading HR and financial outsourcer, will allow us to enhance the Sberbank ecosystem’s client offering.”
Building a BPO service into the ecosystem for legal entities will let Sberbank Group’s clients receive a comprehensive offering, a single customer experience (for both banking and non-banking services), and develop more effectively by focusing on business instead of providing support for business processes. Outsourcing accounting, HR, payroll and other business processes will allow businesses to concentrate on building and actively growing their core operations. Expenses on these functions will fall thanks to more effective management of processes and technology by the provider and it will be less likely that complaints will be made by government bodies.
After acquiring Intercomp, Sberbank plans to upscale the business by entering new sectors (for example, micro-sized and small business), and also by boosting sales through bank channels, broadening the product line, and making the company more efficient by applying the latest technology. The Corporate and Investment Banking Business Block, headed by Deputy Chairman of the Executive Board of Sberbank Anatoly Popov, will oversee the future development of the company and its integration into the bank’s ecosystem.
Intercomp’s current and future clients will be able to take advantage of the combination of the capabilities of Sberbank Group and Russia’s largest BPO company and make use of high-tech solutions for various sectors. In addition to creating a range of benefits for Sberbank clients, the deal will also help improve Russia’s business environment by creating new opportunities for clients, raising investment potential, developing the service sector, and engaging young and experienced professionals from the country’s many regions.
ВРО (business process outsourcing) involves the contracting of business processes to a third-party service provider, thus allowing the client to optimise expenses on transaction processes. SaaS (Software-as-a-Service) is a software licensing and delivery model in which software is provided on a subscription basis by a provider.
Sberbank is the largest bank in Russia and a leading global financial institution. Sberbank accounts for about a third of the assets of the entire Russian banking sector. Sberbank is a key creditor in the national economy and holds the largest share in the deposit market. Sberbank’s founder and main shareholder is the Central Bank of Russia which owns 50% of the bank’s share capital and one voting share. The remaining 50% of the bank’s shares are owned by Russian and international investors. Sberbank serves over 145 million clients in 22 countries. With about 15,000 service points, Sberbank’s branch network is the most extensive in Russia. The bank’s foreign network consists of subsidiary banks, branches and representative offices in the UK, USA, CIS, as well as Central and Eastern Europe, India, China, Turkey and other countries.
The bank operates under general license No. 1481 issued by the Bank of Russia for performance of bank operations.
Intercomp is a leading provider of accounting and payroll outsourcing services in Russia and has been operating on this market for over 20 years. The company also operates in Kazakhstan, Azerbaijan and Georgia. Payroll, financial and HR outsourcing are the key services provided by the company. Intercomp’s current client base consists of 800 large and medium companies operating in 30 different industries as well as Russian state agencies. Intercomp holds several international quality standard certificates. Intercomp’s business in Ukraine was not included in the acquisition transaction and remains in the ownership of the group of investors headed by Elbrus Capital Fund. Intercomp Ukraine is going to be rebranded soon.