Recent studies by Deloitte and RBR have found that in 2020 there has been an increasingly high demand for online and digital banking applications. When compared to 2019, in 2020 the number of people who reported to use mobile or PC banking applications on a regular basis increased by 30%. This massive increase in banking apps usage has been accompanied by an increase in the number of ATMs that support features such as touchless and mobile app withdrawals. 

The future is moving towards a higher and eventually full use of financial technologies to carry basic financial transactions. Banks are realizing this, and have come to understand the necessity of switching from outdated brick and mortar services to faster, more practical, and more efficient digital ones. This is largely the reason why so many of them have been partnering with or acquiring FinTech firms to help them update their services and offer a wider arrange of features for their users. 

SBank has been a leader in these processes. With its MVP releasing within the first months of 2020, the company has carrying dialogues with various banking institutions in order to collaborate in lending an inclusive, streamlined and high-quality experience for users of the platform. As the general market tendencies would indicate, it is inevitable that yet more branches and institutions will want to benefit from and invest in new financial technologies. 

What differentiates SBank from other online banking platforms that collaborate with traditional banking brands is not only its wider array of services, but its technological edge. SBank is one of the pioneering companies to fully employ distributed ledger technologies (DLT) into a global scale banking platform. These technologies can automatize payment processing, verifications and settlements, drastically increasing transaction security and efficiency while reducing costs and times. The DLT gives SBank a much wider range of possibilities, most noticeably, the ability for users to carry transactions from and to anywhere in the world, in real time and with small or nonexistent fees.  

With this in mind, it is expected that SBank’s unique banking services will prove highly attractive for customers and investors. As a lead in creativity and technological development within the financial service industry, SBank aims to work with the widest possible array of financial actors to push the industry forward with differentiated and groundbreaking services, making a significantly positive economic and social impacts.