OREANDA-NEWS Sberbank will be a partner of the Innotribe Startup Challenge for Russia. The event, which seeks to showcase the best FinTech startups from Russia and also the CIS, will be held during the International Financial Congress (IFC). Hosted by the Bank of Russia, the IFC is Russia’s largest international financial forum. This year’s IFC will take place from 12-14 July in St. Petersburg.

Lev Khasis, First Deputy Chairman of the Executive Board of Sberbank, commented: “Sberbank is proud to be a partner of the debut Russia/CIS edition of the Innotribe Startup Challenge. We have a keen interest in FinTech, an area that is changing the way that the Russian financial services industry operates and develops. Supporting innovation-based events such as this one is in line with Sberbank’s long-term commitment to digital transformation and incorporating cutting-edge technology. We look forward to this event, which will showcase the region’s most promising FinTech startups.”

Matthieu de Heering, Head of Russia, CIS and Mongolia at SWIFT, says: “It is a pleasure to bring the Innotribe Startup Challenge to Russia, and an honour to be a part of the Bank of Russia’s IFC in St. Petersburg. It would never have been possible without the initiative from ROSSWIFT, in particular the strong support from the four partner institutions amongst its ranks. This is yet another demonstration of the Russian SWIFT community helping build nothing less than the future of the financial industry!”

Applications for the competition are being accepted from January 31. Innotribe will select 10 startups to enter the Startup Challenge programme, showcase their products at the IFC, and provide them with expert coaching and mentoring. Industry experts, bank decision-makers, venture capitalists and angel investors will be closely involved in selecting the participants and their strong expertise will also serve to advise and coach the startups prior to the event. During the showcase, the three best startups will be nominated by the audience as finalists, automatically securing their participation to Sibos, SWIFT’s annual global financial services conference, which will take place in Toronto from 16-19 October this year.

The Bank of Russia is the general partner of the Innotribe Startup Challenge. Other partners include ROSSWIFT (Russian National SWIFT Member and User Group), the National Settlement Depository and Alfa-Bank.

Sberbank is Russia’s largest bank and a leading global financial institution. Sberbank holds almost one third of aggregate Russian banking sector assets, it is the key lender to the national economy and the biggest deposit taker in Russia. The Central Bank of the Russian Federation is the founder and principal shareholder of Sberbank owning 50% of the Bank's authorized capital plus one voting share, with the remaining 50% held by domestic and international investors. Sberbank has more than 135 million individual customers and more than 4 million corporate clients in 20 countries. Sberbank has the largest distribution network in Russia with almost 17,000 branches, and its international operations include UK, US, CIS, Central and Eastern Europe, India, China, Turkey and other countries.

Launched in 2009, SWIFT Innotribe is about innovation and connecting people, networks and ideas. We bring together global innovators and investors, strategists, and influential decision-makers from leading financial institutions across the globe, providing them early insights into innovations that could disrupt current business models and create new opportunities for new ones. Through the Startup Challenge competition, we bridge the gap between the startup ecosystem and the financial service community. For more information, please visit www.innotribe.com or follow us on Twitter: @innotribe and Linkedin: Innotribe.